What is an Oklahoma Athlete Agent Bond?
In North America, the sports market was valued at a whopping $60.5 billion in 2014 alone. It is then projected to rise to $73.5 billion by 2019. One huge reason for the swelling growth is its anticipated income coming from media rights transactions, which has been calculated to go beyond gate revenues.
A contributing factor to the success in obtaining media rights deals is the existence of athlete and sports agents, also referred to as representatives, who work as mediators and envoys between the athlete and the sponsors, team proprietors, and company CEOs. Their task is to ensure that the athlete catches the best financial deal and the finest playing arrangements. The agent needs to have a broad understanding of financial matters and a massive awareness of legal services. The agent is instrumental in assisting a sportsman/woman with financial services such as providing suggestions and recommendations for investments. Owing to this enormous influence of an athlete agent to a sportsman/woman with regards to his/her sports career, there are massive opportunities for fraud and deceptive activities to take place. To avoid these adverse situations to happen, an athlete agent has to secure the Athlete Agent Bond.
The Oklahoma Athlete Agent Bond is an unimpeachable assurance that an athlete agent with intentions of getting into an agency contract shall not commit the following specific acts:
- Offer any false or confusing information or make a fake undertaking or representation;
- Give anything of value to a student-athlete before the student-athletes entering into an agency contract;
Why do you need an Oklahoma Athlete Agent Bond?
The Oklahoma Athlete Agent Bond is likewise a secure pledge that an athlete agent will not solicit the participation of a student-athlete who is not qualified or suitable to enter into a professional-sports-services agreement.
You need the Oklahoma Athlete Agent Bond because you are a person of integrity and an expert who values the tenets of professionalism. With this bond, you will stand apart from your peers in the industry and will be regarded as a respectable athlete agent.
It is also a secure guarantee that an athlete agent shall not deliberately:
- Initiate contact with a student-athlete unless the athlete agent registered under the Uniform Athlete Agents Act;
- Provide false or misleading information in an application for registration or renewal of registration;
- Predating or postdating an agency contract;
How much does an Oklahoma Athlete Agent Bond cost?
The Oklahoma Athlete Agent Bond’s coverage is for $50,000. The bond’s premium amount is reliant on your credit history, your reputation as an athlete agent, and your standing in the community. Premium payments are also dependent on your credentials as an athlete agent and your previous performance as a sport professional.
How do I get an Oklahoma Athlete Agent Bond?
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