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According to the State of California Secretary of State's office, operating as an athlete agent requires registration, state licensing and obtaining a surety bond in the amount of at least $100,000. Agencies and agents must both register and both pay an application fee of $30.00 (agencies must pay application fees for each athlete agent that they employ).
Athlete agent licensing as well as other operative laws and procedures are governed by California Business and Professions (B&P) code sections 18895.2 (et seq) and athlete agent bonding requirements imposed pursuant to B&P Code Section 188978.87(b). Conviction of a felony will result in a denial of a license.
How to Become a Sports Agent in California
Study sports law by reading books, sports magazines, sports-related newspapers and visiting sports-related websites. Stay abreast of important people in sports and keep up with changes and proposed legislation in California that may affect athlete agents and athlete agencies.
Enroll in a sports management course and athlete agent classes (see "Resources" and "References"). A college degree in sports management is a valuable asset.
Serve an internship or work/volunteer for a sports agent or agency.
Obtain a current licensing packet from the State of California Secretary of State's office. Contact the Special Filings Unit at the following office:
State of California Secretary of State Special Filings Unit P.O. Box 942877 Sacramento, CA 942877-0001 916-653-3984 sos.ca.gov
Complete the application and pay the $30.00 application filing fee (as of July 1, 2010). Athlete agents must designate the name and address of an agent for service of process who is located in California.
Get certified as a sports agent and by the professional leagues that govern the athletes you will be representing.
Familiarize yourself with the current player contracts and salary survey. You should follow events and performance by professional and amateur/college athletes. Keep track of the team or league owners, scouts and staff members of teams, leagues and player unions.
Work for an agency or establish your own office. Advertise and networking. Any funds received for the benefit of your clients should be placed in a client trust account.
Review all contract offers for sponsoring products for your athlete clients.
Prevailing commissions/fees are about 10% of gross athlete income plus reimbursement of travel and other out-pocket expenses such as photocopying, postage and travel expenses
Learn and follow ethical guidelines. This includes knowing rules relative to prohibitions against gambling ties and contacting amateur athletes for purposes of signing them up for agent representation prior to periods of eligibility.