Amidst talks of the NBA lockdown and pay cuts, the league’s players will surely suffer financial setbacks. In this scenario, the final amount the player receives depends on their agents and contracts.
How NBA agents shape up their client’s future
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ESPN’s Adrian Wojnarowski released another episode of The Woj Pod Show, his podcast. In the episode, he spoke about the financial impacts on the NBA’s front office and stressed the importance of having a good agent. Especially during these times.
He explains why agents are important for the players, “Free agents who could be without a contract, they would be the most affected ones and it would be the job of their agents to sell their client to the team and get them a new contract.”
Meanwhile, when talking about the season’s unlikely redemption he said, “as we are still unclear how this season will pan out and they (NBA) discussed that the league would no way look at finishing the complete season which would take up a lot of time if the games resume early July, impacting the start of the next season.”
ESPN’s front-office insider Bobby Marks and Wojnarowski further analysed the financial implications of the suspended season.
According to Marc Stein, the NBA players will definitely be affected in terms of payment.
Roughly 90 percent of NBA players will have received less than half of their 2019-20 salaries by the time April 1 checks go out because they are on 12-month payment plans, league sources estimate
— Marc Stein (@TheSteinLine) March 31, 2020
NBA players receive paychecks Wednesday but have not been assured further payments. Some details to keep in mind if the NBA seeks to withhold 1.08 percent of each player's 2019-20 salary for every game missed by invoking a "force majeure" clause designed for emergency situations:
— Marc Stein (@TheSteinLine) March 31, 2020
An example of why league players should have great agents
Even though the entire NBA league’s paycheck will get cut in half, there are some very fortunate players, who invested in the right agent.
Nine of the league’s players secured all-you-can-get deals. According to Stein, these deals are “negotiated all-you-can-get deals which feature the maximum allowable salary advance alongside an accelerated six-month payment schedule.”
Los Angeles Lakers star LeBron James, and Brooklyn Nets stars Kevin Durant and Kyrie Irving are some of the lucky ones. Other names include Washington Wizards star John Wall and Detroit Pistons star Blake Griffin.
Nine who secured these all-you-can-get deals, which pay out 90-plus percent of their 2019-20 salaries by April 1, are represented by Klutch Sports on contracts structured and negotiated by agent Rich Paul and attorney Mark Termini
— Marc Stein (@TheSteinLine) March 31, 2020
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Rich Paul of Klutch Sports Agency represents all these nine players. The community knows him as a super agent, and now we know why.
Paul has shown his brilliance and foresightedness as an agent. He takes measures beyond what a regular agent would. Moreover, the steps he takes to ensure the best circumstance for his players set him apart from the pack. Also, he looks to give his best for his clients and does everything he can and more to boost them upwards.
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