15 trades overall in the NBA draft. The Knicks and Trail Blazers are getting hammered for their decisions, but we’ll leave that discussion to the so-called analysts. The fact that there were 15 trades in the draft brings me thinking back to an article by the Sports Law Blog [The Legality of Oral Promises by NBA GMs to Potential NBA Draft Picks]. With many oral promises made by NBA GMs to potential picks before each NBA draft, there must be some promises broken when 15 trades occur. As the Sports Law Blog mentions, many underclassmen may decide whether to stay and extra year in school or go pro based on these oral promises, that do not seem very gauranteed in the event of a 15 trade draft. Based on the fact that this past draft had a lot of movement and that future drafts will probably follow suit, it may be advantageous for future pros to workout for as many teams as possible (not only the teams that make oral promises) and for college athletes to not put all of their eggs in one basket by basing their decision to go pro solely on the premise of gaining these oral promises. The Sports Law Blog goes on to talk about the legality of breaking these oral promises.
On to the sports business news:
Steve Nash is now endorsed by Clearly Canadian, a beverage company out of Canada (surprise, surprise). He’s locked up to a 3-year deal where the Average Joe will have to painfully see Steve Nash’s face on Clearly Canadian drinks and on stand-ups in grocery stores. Clearly Canadian competes with Gatoraid and hopes to take a good amount of market share by creating the agreement with Steve Nash. Good luck.
Adam Morrison has already signed with EA Sports, Addidas, and had his suit from draft day cut up afterwards to appear on future Topps trading cards. How much do I have to pay for a clipping of his stache?
Arn Tellem represents 6 first-round draft picks. He is now part of the Casey Wasserman Media Group (WMG) in Los Angeles, California. Tellem’s shift to WMG from SFX is very similar to Tom Condon’s shift to CAA from IMG. These old marketing and media content businesses that have historically stayed away from the business of sports are starting to gain a huge market share in the business with the addition of superstar agents to their rosters. Look for the trend to continue.
Leon Rose/Antonio Ricciotti is the agent for the first overall pick, Andrea Bargnani.
[tags]nba, nba draft, endorsements, adam morrison, steve nash, knicks, trail blazers, andrea bargnani, arn tellem[/tags]