Compliance

 

Information for Sports Agents and Financial Advisors

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Information for Sports Agents and Financial Advisors

Do/Don’t Agents/Advisors/Runner

  • DO’s

o  You MAY request information from a professional team or organization concerning your professional market value.

o  You are permitted to use your head coach to contact agents, professional sports team or organizations on your behalf. (However, your coach is not permitted to receive any compensation for these services.)

o  You, or your parents or legal guardians, MAY negotiate with a professional team.

o  You MAY secure advice from an attorney or third party concerning a proposed professional contract, provided the attorney or third party does not represent you in negotiations for that contract. An attorney may not be present during discussions of a contract offer with a professional team, nor may the attorney have direct contact (in person, by telephone, by regular mail or email) with the professional sports organization (this would be considered representation). You are required to pay such an individual at their normal rate.

o  You MAY compete professionally in one sport and be an amateur in another. Signing a professional contract, however, may terminate your eligibility for an athletics scholarship in any sport.

o  You MAY retain an agent whose duties are specifically limited in writing to representing you only in the sport(s) in which you compete as a professional.

o  In sports other than football or basketball, you MAY enter a professional league draft once during your collegiate career without jeopardizing your eligibility, provided you are not drafted and you declare your intent to return to college in writing to the Director of Athletics within 72 hours following the draft. (See Compliance Services for basketball draft information and rules.)

o  You MAY try-out with a professional athletics team at any time, provided you do NOT miss any class time. You may receive expenses provided the tryout lasts no more than 48-hours. Tryouts longer than 48 hours must be paid for by you, but you still cannot miss class time to engage in this tryout

  • DON’Ts

o  You may NOT agree (orally or in writing) to be represented by an agent for the purpose of marketing your athletics ability or reputation in that sport. An agent contract that is not specifically limited in writing to a particular sport is applicable to all sports.

o  Once an agreement (oral or written) is made with an agent or to compete in professional athletics, you are ineligible for participation in that intercollegiate sport, regardless of the legal enforceability of the contract.

o  You may NOT agree (orally or in writing) to be represented by an agent until after your eligibility has ended, including your team’s post-season competition.

o  You, your relatives, or your friends, may NOT accept benefits from an agent, financial advisor, runner or any other person associated with an agency business. These benefits include (but are not limited to) transportation, money and gifts, regardless of the value of the benefit or whether it is used.

o  You may NOT retain professional services (legal advice) for personal reasons at less than the normal charge.

o  A coach or other member of the athletics staff at your institution may NOT, directly or indirectly, market your athletics ability or reputation to a professional sports team or organization (except as allowed by the head coach in the DO’S section).

o  If you reach an agreement with an agent, your college has the choice of whether to cancel your athletics scholarship as of that day forward.