I happened to stumble across a superb article over at CFO Magazine. Many prominent Sports Agents took part in making 4-page piece possible. It is from the current, January 2006 Issue, and is definitely worth taking a look at. (btw: Anna’s picture was not only placed on this thread for eye-candy…but also because her contract negotiation is discussed in the CFO article)
Here are some important negotation tidbits that was brought to light by the article:
- You have to be willing to “push the envelope,” but to try to avoid confrontation.
- First step for a negotiation = catalog what you want.
- Rely heavily on two-way communication. Try to make the other party disclose the offer that you settle on.
- Research the negotation history of the person you will be in conversation with (ex: does the person actually have authority or will he/she have to get approval?)
- Find out how you are going to prove that your client exceeds the competition.
- The best deals are often brokered when your client has alternatives (free agency and many teams looking to acquire him/her).
- THE MOST IMPORTANT THING IS TO BUILD GOOD RELATIONSHIPS (let’s just say that I capped that message because I am 100% in support of it)…do not burn your bridges as some agents have done in the past.
The entire article may be viewed by clicking here
[tags]sports agent, cfo, negotiation, contracts, clients[/tags]