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re: After not being the #1 overall pick, Geno Smith fires his agents
Posted on 4/30/13 at 12:24 pm to wope
Posted on 4/30/13 at 12:24 pm to wope
How's that work with payment?
I don't know the first thing about it, but I do know that agents usually get a percentage of every contract/endorsement a guy has that they help broker.
But in this case, the agents are fired before signing his deal, so I wonder how they are compensated for the work they did up to this point.
I don't know the first thing about it, but I do know that agents usually get a percentage of every contract/endorsement a guy has that they help broker.
But in this case, the agents are fired before signing his deal, so I wonder how they are compensated for the work they did up to this point.
3
Posted on 4/30/13 at 12:28 pm to shel311
Who covers his advance??? He didn't buy that suit.
Posted on 4/30/13 at 12:34 pm to shel311
quote:
How's that work with payment?
They had a documentary on this on ESPN a while back. One of the agents they followed had this happen to him, and IIRC (and someone can correct me I'f I'm wrong) the agents pretty much just lost a ton of money they invested in the athlete.
Posted on 4/30/13 at 12:34 pm to shel311
quote:
How's that work with payment?
ESPN did a 30 for 30 on agents. What I gathered from it is that the players are not financially liable to the agents at all. The agent fronts the money for training, marketing, etc, but the player isn't actually "under contract." Meaning they are free to change representation at any time with no penalty.
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