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Athlete agents are regulated by Florida's Department of Business and Professional Regulation (DBPR). Applicants must be at least 18-years-old, pass a background check, and pay the required application fee of $630. It can take some time before the DBPR processes an athlete agent application.
In 1966, Bob Woolf became the first lawyer to represent an athlete in contract negotiations, negotiating Wil- son's contract with the Red Sox.
They serve as professional representatives for athletes, helping promote their clients to future employers and representing athletes throughout the contract negotiation process. Agents also serve as liaisons between the athletes themselves and their financial affairs and legal teams.
Evolution: The sports agency business has changed over the past five years in that more and more athletes are now signing with a player agent for their player contract and also signing with a marketing agent for their on and off the court/field opportunities.
Historically speaking, most sports agents recognize the inception of the profession stemming from the work of several individuals during the 1960's. However, sports agency can actually be traced back to 1925 when Red Grange hired an agent to negotiate his professional football contract.
The U.S. Department of Labor predicts that employment for agents and business managers of artists, performers, and athletes is expected to grow by 10 percent, faster than the average for all careers, through 2028.
Due to the length and complexity of contracts, many sports agents are lawyers or have a background in contract law. Agents are expected to be knowledgeable about finance, business management, and financial and risk analysis, as well as sports. It is important for a sports agent to follow trends in sports.