Download SPMT 481 sport agent final Exam | Actual Questions and Answers Latest Updated 2024/2025 (G and more Exams Sports Law in PDF only on Docsity!
SPMT 481 sport agent final Exam | Actual Questions and Answers Latest
Updated 2024/2025 (Graded A+)
How does someone become an agent (2) - ✔✔Find a client You have to be lucky and have a plan __ people who act as sports agents - ✔✔ 25000 __ certified agented in the 10 major sports leagues - ✔✔ 4000 Number of players in the NFL - ✔✔ 1728 Number of certified agents in the NFL - ✔✔ 1112 What is the percent of agents who represent at least 1 player in the NFL - ✔✔30% Number of players in the NBA - ✔✔ 360 Number of certified agents in the NBA - ✔✔ 183 Number of agents who represent at least 1 player in the NBA - ✔✔< Number of players in the MLB - ✔✔ 1200 Number of certified agents in the MLB - ✔✔ 328 Percent of agents who represent at least 1 player in the MLB - ✔✔100%
What is the reason that all agents in the MLB have clients - ✔✔You can't become a sports agent until you have at least 1 player on the 40-man roster How can so many agents make a living in this business - ✔✔They can't The question you need to ask yourself before becoming a sports agent (2) - ✔✔How are you going to convince a player that you can do a better job than an experienced agent How are you going to show them that you know all of the ins and out of negotiating a contract and doing all and doing all of the other myriad things that agent does The "Galloping Ghost" Turned pro after 1925 season Gave immediate legitimacy to professional football - ✔✔George Harold "Red" Grange Held out for $167,000 each, $42,000 more than highest paid player - ✔✔Sandy Koufax/ Don Drysdale What are two pioneer sport management firms - ✔✔International Management Group (IMG) ProServ Who is the founder of International Management Group (IMG) - ✔✔Mark McCormack (1960) Who is the founder of ProServ - ✔✔Donald Dell (1970) Who were the sport agent pioneers (4) - ✔✔Bob Woolf (1965)
Mid-90s: Consolidation begin § SFX Sports § Assante Corp. § Octagon § Creative Artists Agency (CAA) §Wasserman Media Group - ✔✔Consolidation of Agency Firms the fiduciary relationship which results from the manifestation of consent by one person to another that the other shall act in his behalf and subject to his contract, and consent by the other so to act - ✔✔Agency one who acts primarily for the benefit of another - ✔✔Fiduciary the one for whom the action is to be taken - ✔✔Principal the one who acts for the principal - ✔✔Agent The agent owes his principal the...of undivided loyalty, and the duty to act in good faith at __ times - ✔✔fiduciary obligation (called the "duty") all violating a fiduciary duty create a __ __ for the agent - ✔✔legal liability What are two ways to create an agency relationship - ✔✔Express contract Implied contract a specific agreement between the parties that contains the agency agreement - ✔✔Express contract
the agreement is implied from the words or actions of the parties - ✔✔Implied contract The Authority of Agent source of the power to act is always __ __ - ✔✔the player What are the two types of agent authority - ✔✔Express authority Implied authority specifically sets forth those things that the agent may do for the player - ✔✔Express authority authorizes the agent to do whatever is reasonably necessary to complete the transaction the player has expressly authorized the agent to complete - ✔✔Implied authority Limitations on the Agent's Authority (3) - ✔✔contractual limitations delegation of authority unauthorized acts Agent to Player or Player to Agent: To obey the instruction of the player - ✔✔Agent to Player Agent to Player or Player to Agent: To use reasonable care, skill, diligence and judgment in performing the duties assigned - ✔✔Agent to Player Agent to Player or Player to Agent: To disclose all material facts to the player - ✔✔Agent to Player Agent to Player or Player to Agent: To refrain from acting adversely to the interests of the player - ✔✔Agent to Player
State Statutes are passed by the - ✔✔state legislatures 3 athletes agent statutes - ✔✔Sports Agent Responsibility & Trust Act (SPARTA) Uniform athlete agent act State athlete agents Acts When was the Sports agent responsibility & Trust Act signed into law - ✔✔9/24/ What is the Sports agent responsibility & Trust Act - ✔✔Designed primarily to protect universities not athletes The following provision is for which act: Prohibits certain acts Requires certain disclosures Creates civil liability for violation by agent States and institution have right to sue Liability is in addition to state statutes - ✔✔Sports agent responsibility & Trust Act The following provision is for which act: Creates uniformity among states Creates reciprocity between states Provides criminal penalty for agent Provides civil liability for agent & former athlete University has right to sue - ✔✔Uniform athlete agents act
What does the Uniform athlete agents act do - ✔✔to protect student athletes and amateur sports Most state Agent Acts are very similar, adopted from the provisions of the - ✔✔Uniform athlete agents act __ states (and D.C.) have passed Uniform athlete agents act - ✔✔ 38 __ states have agent laws other than Uniform athlete agents act - ✔✔ 3 __ state (NJ) has Uniform athlete agents act pending - ✔✔ 1 __ states (including NJ) have no agent laws - ✔✔ 9 In __, __ was the first state to pass a statute to regulate athlete agents - ✔✔1981, California In __, __ was the next state, establishing an extensive regulatory scheme, and creating both criminal penalties and civil liability for agents - ✔✔1987, Texas Texas replaced the __ __ with a version of the __ __ __ __ in 1999 - ✔✔original act Uniform athlete agents act Texas Athlete Agent Act - ✔✔Texas Occupations Code Requirements for certification for the NBPA (2) - ✔✔Apply for certification Four-year college degree
Post-career development Retirement planning Estate planning Sport medicine consultations Draft preparation assistance How is the agent's fee determined (3) - ✔✔Contingent fee Hourly fee Flat fee Contingent fee (3) - ✔✔Most popular Percentage of compensation under contracts Percentage above minimum salary (under CBA) When talking about contingent fee, what is the percentage of pay they can take from (5) - ✔✔Salary Signing bonus Reporting bonus Roster bonus Performance incentives When talking about contingent fee, what is the maximum percentage fees that an agent can take from a player in the MLB - ✔✔ 3 - 4% When talking about contingent fee, what is the maximum percentage fees that an agent can take from a player in the NFL - ✔✔3% When talking about contingent fee, what is the maximum percentage fees that an agent can take from a player in the NBA - ✔✔4%
