“SHOW ME THE MONEY!”  Who was the sports agent made famous by Tom Cruise or Jay Mohr in the movie, Jerry Maguire?  And does that movie accurately portray what a real sports agent does on the day-to-day?

Sports agents like Drew Rosenhaus, pictured above when he was featured on 60 Minutes,  may represent almost 150 clients, with one goal in mind for each one:  to build their brand.  A sport’s agent’s number one priority is looking out for their clients’ economic interests.  But these interests are more varied than just employment contracts.

How are Sports Law attorneys different from sports agents?  For one, a Sports Law attorney can not only evaluate a client’s economic opportunities, but analyze the legal effects, liabilities, and risks associated with those opportunities.  Also, a typical sports agent is compensated by getting a percentage of the athlete’s paycheck.  On the other hand, usually lawyers in Sports Law are paid a flat fee up front, and the rest of the earnings are retained by the athlete.  And finally, with the right experience, an attorney can apply for a sports agent license, while a sports agent will have to go to law school and be licensed to practice law before being known as a lawyer.

Good sports agents and Sports Law attorneys can negotiate endorsement deals,  which, with strategy and luck, has the power to turn an athlete into a megastar.  A good sports agent or lawyer will help an athlete protect their image and likeness, negotiate a teams’ franchise association with a league, or provide advice on financial planning, organization of favored charities and personal appearances.  The goal is total career management for the athlete.

The Yau Law Firm now has a licensed sports agent and Sports Law attorney.  See which athletes, teams, and leagues we represent.  If you’re thinking about a career in professional sports, it is important to consult with an athletic agent and lawyer before signing with a team.

Filed under: Sports Law by Yau Jo-Anne Tuesday, December 20th, 2011