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It makes it unlawful for an agent to directly or indirectly recruit a student athlete by giving any false or misleading information, making a false promise or representation, or providing anything of value to a student athlete, or anyone associated with the athlete, before he or she has entered into an agency contract.
Sports agents generally receive between 4 and 15% of the athlete's playing contract, and 10 to 20% of the athlete's endorsement contract, although these figures vary. NFL agents are not permitted to receive more than 3%, and NBA agents not more than 4%, of their client's playing contracts.
[1] SPARTA is an acronym that stands for The Sports Agent Responsibility and Trust Act of 2004. [2] See 15 U.S.C. §7801 (2008). An athlete agent is someone who enters into a contract with a student-athlete, or directly or indirectly recruits or solicits a student-athlete to sign an agency contract.
It makes it unlawful for an agent to directly or indirectly recruit a student athlete by giving any false or misleading information, making a false promise or representation, or providing anything of value to a student athlete, or anyone associated with the athlete, before he or she has entered into an agency contract.
NCAA rules forbid student-athletes to agree, orally or in writing, to be represented by an agent or organization in the marketing of his or her athletic ability or reputation until after the completion of the last intercollegiate contest, including postseason games.
So here are 17 tips for making a good selection of an agent: Big Names are not everything. Complete trust is the single most important element in choosing your agent. More money does not equal better representation. But, more money can help provide you with important services. Beware of promises.
The Act created certain requirements for contracts between an agent and a student-athlete. Read about those requirements here. Finally, among other things, agents are prohibited from: Giving misleading information or making false promises in order to get a student-athlete to enter into an agency contract.
Agency law also requires that sports agents use care in acting on behalf of their athlete clients and expend reasonable efforts to provide material information to them.