A sports agent represents an athlete and helps identify, pursue, and negotiate jobs and endorsement deals. As your career grows, you may experience greater demands on your time. More competitions, media appearances, speaking engagements and travel requirements can leave you with less time to develop and maintain your skills on-the-court.
An agent can help you manage your time, allowing you more time to focus on playing the game by:
- Understanding your value in the basketball market and negotiating with team management to pay you what you are worth
- Understanding your needs and goals to negotiate the length of your contract, salary and extra incentives that may be available to you
- Identifying, pursuing, and securing additional sources of income through endorsements, appearances, speaking events, etc.
Use different representatives for different parts of your personal and professional affairs, such as looking for legal and/or financial counselling. Placing complete trust and authority in one person to handle all your matters may sound convenient. However, if something were to go wrong or the trust was breached between you and your agent, it would be better if that breach only affected one aspect of your career instead of all aspects of it.
Therefore, use a separate lawyer to plan your estate and a separate financial advisor to manage your money and investments.