Beginning a career as a sports agent can put you in contact with some of the most talented athletes in the world, and help you find and promote emerging new stars. There is more to being an agent, however, than simply recruiting new athletes into the profession, and the job requires hard work and a specific skill set in order to be successful.
Today, the 100 highest-paid athletes in the world stand to earn over $3.8 billion dollars [€3.3 billion] in total, with almost a third of that sourced from endorsements and appearances. Sports agents are an integral aspect of ensuring both a long-lasting career for their athletes and that those athletes earn an appropriate income which reflects their skills and labor. Read on to find out how working as an agent can put you in touch with some of the biggest names in sports.
Match Your Skills to the Right Sport
There is potential for a sports agent to begin a career working with athletes of almost every major sport across the globe. In Europe, sports such as football, Formula One racing, and rugby come to mind instantly, but there is a certain appeal in specializing in a sport which does not have as much significant public recognition, such as handball, which has a loyal following of fans across the continent.
Sports management courses teach valuable skills
There are various skills required to succeed in a career as an agent, from organization to financial planning to public and promotional components and beyond. A key aspect of any agent’s success is their familiarity and knowledge within their field, which helps them spot new talent and negotiate better contracts.
One of the benefits of enrolling in sports management courses before you begin a career as an agent is that it can help you identify which specific sports and interests you are passionate about, whether that includes football, racing, or even skiing and ice hockey. It can also provide more in-depth context on sports ethics, media rights and relations, and player, team, and event financing.
Identify Your Client’s Priorities and Your Own
One of the most essential and primary duties of sports management careers is, not surprisingly, management. In order to know how best to serve and manage your client’s career, it’s important for you to clearly understand their goals and career path so you can both work towards a common outcome.
There are a few questions to consider when structuring and planning your client’s career. What are their short-term economic outlooks? What do their profile and endorsements look like? Consider important outside factors that influence their finances such as their location and lifestyle, too. For instance, an F1 driver living in Monte Carlo will have a different standard of living than a Premier League football player in Manchester.
Provide Quality Representation with a Sports Management Degree
Your client’s career should be treated as if it were your own because their success and yours are in many ways interdependent. An athlete’s good name and reputation can be just as important as their talent because it can lead to endorsements and appearances, and a career as a sports agent includes cultivating a positive public image and representation.
Representing a successful athlete is part of becoming an effective agent
As mentioned before, endorsements comprise a large part of a major athlete’s income, and good representation influences how the athlete is seen by the public. Many of the highest-earning stars also pursue philanthropy and charity work as well as community involvement. Furthermore, it is important to cultivate a positive image because it will help prepare for success even after retirement from the sport, as many agents continue their work outside their client’s athletic career.
Are you interested in kicking off your sports management degree?
Contact Geneva Business School today for more information.