NBA agents are pursuing overseas contracts for their respective players: Lockout Update
The National Basketball Association (NBA) has locked its players over a bitter labour dispute with the league players. The players’ representatives, the Players Association and the NBA owners are not coming on to mutual grounds
for the new Collect Bargaining Agreement (CBA) which has many controversial clauses. These clauses are not acceptable to the Players Association while the NBA locked its players until these issues will resolve between two parties.
On the other hand this very work stoppage in the league is forcing many league players to play overseas as long as the lockout prevails in the league and now some reports have arrived in the media which are suggesting as many players’
agents are also pursuing overseas contracts for their respective players/clients. These reports have clearly highlighted many factors which are the primary causes for these agents who are pushing hard for getting international contracts for their potential
players.
These agents are also seeing the uncertainty which is prevailing in the league and not sure about the future earnings. The primary source of their earnings are directly linked with the league players and since the league is in
lockout situation these agents are also looking outside the window and finding their chances in many European countries.
Several agents who came out in the media explained about some of those factors with great brief. One particular agent looked pretty determined to tell all the behind aspects when he said, “The agent fee is 10 percent, paid by the
team, not paid by the player, So if a player goes over and now he’s getting $100,000, there’s an agent fee of $10,000 that the team pays. Now, sometimes, that gets broken up, there’s a broker overseas, without even getting back into kickbacks.”
Another agent who is representing high-end talent in the NBA for several years now also stated in the media and said in detail. He also gave an NBA players’ example for better understanding and described the whole scenario with
great detail. He said, “Well, let’s use a practical example, Deron Williams, OK, so he’s making, let’s probably say $500,000 U.S. a month. You’re getting at least three months out of him if the lockout continues, that $1.5 million. So you might ask for $150,000
up front, sure. Obviously, I’m going to have issues if I don’t make any money here. But the fact is here I’ve got a fiduciary obligation, I can’t advise somebody the wrong way.”
Apart from benefits and handsome earnings from these overseas deals there is still a great threat for these players and their agents. There were also some other agents present who highlighted a very important aspect of these overseas
deals with several international basketball clubs. They told the media about the real threat to those players when one of them would face injury. The basketball international governing body FIBA and the NBA have no insurance cover for these players during
the lockout in the league.
Tags: