Letters of intent (also known as LOIs) are often used as precursors to final long-form agreements. They typically contain material elements that the parties agree to with clear divisions between binding and non-binding provisions contained therein. It allows the parties to put something down on paper and move forward with a working relationship in the interest of time, while it is contemplated that a more thorough agreement will be executed at some point in the future.
I was unaware that the Arena Football League (a sub-NFL league comprised of professional football players) used Letters of Intent until I received an LOI from an agent. A copy of the extremely short LOI is embedded at the bottom of this article, along with attached documents including a Player Biographical Information sheet, a very simple grant of publicity rights, assumption of risk/waiver of claim agreement and authorization for release of health records or medical information form.
The documents are much shorter than I am used to, and that is with the clear understanding that LOIs are meant to be brief and not overly burdensome in a way to tie up negotiations between the parties contemplated to form a business relationship.
When asked who drafted the document, a football agent whose name will remain anonymous replied, “I’d say most likely by a non-lawyer or one without much experience.”