In an athlete agency contract, a student-athlete authorizes the athlete agent to negotiate or solicit an endorsement contract or a contract with a professional sports team for the student-athlete.
The Uniform Athlete Agents Act (UAAA) and its 2015 revision created certain requirements for these contracts. See “Show Me the Money! The Uniform Athlete Agent Act (UAAA)” for an overview of the UAAA.
Under the UAAA, an athlete agency contract must include:
- The agent’s compensation, including the amount and method of calculating that amount;
- Names of any unregistered, non-agent persons receiving compensation as a result of the athlete signing the contract;
- Descriptions of the reimbursable expenses and services that the agent intends to provide;
- A statement indicating that the agent is registered in that state and a list of other states in which the agent is registered; and
- Certain warning provisions, such as the potential impact on eligibility and the requirement to notify athletic directors.
The student-athlete must sign an additional document, acknowledging that he or she understands the potential impact on his or her eligibility from signing the contract. Additionally, within 72 hours of signing the athlete agency contract, both the athlete agent and the student-athlete must notify the athletic director of an affected educational institution. If the student-athlete has a scheduled athletic event within those 72 hours, the notification must occur before the event takes place.
Under the UAAA, an athlete agency contract is voidable if it does not meet the above requirements. These contracts may be cancelled within 14 days of signing.
