Professional athletes have been emphasizing the importance of sports agents over time. A modern-day athlete has more opportunities and with rising opportunities, the risks and hassles also peak, but the question still exists – Are sports agents necessary?
Ever wondered what makes Roger Federer worth $64 Million? Roger’s salary and winnings constitute of only $6M and the remaining $58 M come from off-court appearances and endorsements!
It takes more than just the knowledge of market value and player worth. Tony Godsick, Roger’s agent, has carefully selected and associated Federer’s image with brands like Nike, Wilson, Credit Suisse, Mercedes, Rolex, Lindt, Moet & Chandon, etc. to maximize his potential value.
Players must manage their on-ground performance as well as keep their off-ground agreement such as team contracts, business agreements and endorsement deals in check. Identifying new opportunities, building and maintaining a healthy brand equity, negotiating the correct contract terms are becoming increasingly important in such a cluttered ecosystem.
The essence of athlete representation lies in identifying strategic revenue streams, right type of endorsements, appearances, images and managing the player’s digital presence.
Dave Schuman, NFLPA certified contract advisor and Co-founder of Inspired Athletes, advices people to do their research, learn about the game and build relationships. According to him, it is important to enjoy the play and the players you decide to work with, cause only then will you love your job every day!
Not only is this job demanding, it has some cool perks too! Hang out with your favorite sports celebrities, manage their stardom and relationships, get in on all the back-stage action and become their go to buddy.
Baseline Ventures, the agency that represents Olympic medalist P.V. Sindhu, cricketer Ravindra Jadeja, Billiards & Snooker Champion Pankaj Advani among others shares some insights on tactics used in Athlete representation.
Tuhin Mishra, managing director and co-founder of Baseline, suggests a socialist approach and emphasizes on associations with meaningful-offer-led and least noisy brands for P. V. Sindhu. Whereas, he focuses on leveraging the enthusiasm towards Indian cricket and maximizing commercial potential of Ravindra Jadeja’s value over the next few years.
Depending on the type of sport and the players’ stage in their sports journey, multiple strategies and tactics need to be adopted and fine-tuned according to the current market sentiments. To deep-dive into these strategies and gain more insights on what goes into athlete representation, sign up for our course here.