Sports Business

How Much Is Too Much For A Professional Athlete?

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Andrew Carnegie once stated, “Take away my factories, my plants; take away my railroads, my ships, my transportation;  take away my money;  strip me of all these, but leave me my key people and I will have them all back again.”

Throughout the history of sports, many athletes have failed both on and off the field of play, both during and after their playing days.  The difference, however, between ultimate success and long-term failure can be and should be the people surrounding the athlete.  Following some type of setback from an injury to being cut to being traded to some type of economic hardship, the ability for an athlete to pick himself up and get going again, might be directly related to the people he surrounds himself with.

While an athlete can be well served by a good “team” around him, he must also be aware of fees.  If someone provides a service for an athlete, naturally he should be compensated for that service.  It’s widely known that many athletes have their bills (mortgage, car payments, utilities) paid by someone as a service.  The person responsible for this service should gauge the client simply due to the fact he makes millions of dollars per year.  As a result of today’s modern day banking and upcoming technological advances, athletes do not need to pay thousands or hundreds of dollars per month for the “service” of having their bills paid.  How much is too much?  The fee should be zero, or very close to that figure.

Disclosures.  The information contained herein is neither an offer to sell nor a solicitation of an offer to buy any security.  Past performance is not a guarantee of future results.  Further, the information herein is intended solely to provide general information and does not constitute a promotion of any offerings or products.  Donald J. Kushner is an independent financial advisor with Arque Capital, Ltd., and does business as DK Sports Financial.  Arque Capital, Ltd., and DK Sports Financial are unrelated entities.  Securities offered through Arque Capital, Ltd.  7501 E. McCormick Parkway, Suite 111 North Court, Scottsdale, AZ 85258.  (602) 971-9000.  Member FINRA/SIPC.  Any unauthorized reproduction of this information is strictly prohibited.

By Darren Heitner

Darren Heitner created Sports Agent Blog as a New Year's Resolution on December 31, 2005. Originally titled, "I Want To Be A Sports Agent," the website was founded with the intention of causing Heitner to learn more about the profession that he wanted to join, meet reputable individuals in the space and force himself to stay on top of the latest news and trends.

Heitner now runs Heitner Legal, P.L.L.C., which is a law firm with many practice areas, including sports law and contract law. Heitner has represented numerous athletes and sports agents as legal counsel. He has also served as an Adjunct Professor at Indiana University Bloomington from 2011-2014, where he created and taught a course titled, Sport Agency Management, which included subjects ranging from NCAA regulations to athlete agent certification and the rules governing the profession. Heitner serves as an Adjunct Professor at the University of Florida Levin College of Law, where he teaches a Sports Law class that includes case law surrounding athlete agents and the NCAA rules.

One reply on “How Much Is Too Much For A Professional Athlete?”

I totally agree with this article its always about the people you are surrounded with. I’ve read a book “From athletes to business” and I got learn that this is important for an athlete to think long term …

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