I Just Signed a Professional Sports Contract. What Should I Do Next?
You have dedicated your life to mastering a sport, and finally, your dream has come true. You have signed a professional sports contract. You have called your family and shared the good news, and maybe even spent an evening or two celebrating.
You know what is expected of you on the field. But what about your contract, money, finances, image? Building a sports career today is about far more than your performance on the field. Before you run out and spend all your contract money on exciting big purchases, consider hiring these professionals to assemble your own team for success.
1. Financial Advisor
To best handle your newfound salary and make sure you are taking advantage of every dollar, consider hiring a financial advisor. Be sure to choose a firm that specializes in wealth management for professional athletes. They will understand the details about your career that will help you manage your salary most effectively.
2. Hire a Sports Lawyer
This professional is an expert in the types of contracts and clauses that you will be dealing with throughout your career and can provide specialized advice to improve the outcome of every negotiation you have. This person is essential to be sure you are getting the best contracts that you can to avoid possible commercial dispute resolution.
3. Consider a Sports Agent
A sports agent can help you build the relationships and connections that you need to build a career off the field. From product endorsements to post-career retirement opportunities, a sports agent can facilitate a gateway to another level of success that you may not find possible to achieve alone.
4. Contract a Publicist
In today’s day and age social media is a necessary evil. Managing your social media and media appearances and endorsements is a boots-on-the-ground operation. Securing a publicist will allow you to manage this powerful tool for building your brand and making sure your message is heard.
Landing your first professional contract is an exciting event, but some planning for the future can ensure that it is just the beginning of a long successful career.
