In whose best interest: Sport agents and limited disclosures: An NFL players test case.

摘要

The purpose of this research was to examine the sport agent and athlete relationship in the National Football League as it relates to the financial disclosures required by the National Football League Players Association's (NFLPA) Registered Contract and Financial Advisor programs. This study investigated the current regulatory safeguards provided for by the NFLPA and players' knowledge of the impact of these parameters on their respective player contract.;This study involved a document analysis, a literature review, and personal interviews with current players in the National Football League (NFL). The document analysis was conducted on the agencies that currently regulate the sport agent and athlete relationship in the NFL as well as similar industry codes of professional conduct. The following documents were selected for analysis due to either their direct regulation of the sport agent and athlete relationship or because of their unique attempts to regulate industries similar to the sport agent and athlete relationship: The National Football League Collective Bargaining Agreement as Amended (2006), The National Football League Players Association Constitution (1994), The National Football League Players Association's Regulations Governing Registered Contract Advisors (2006), The National Football League Players Association's Code of Conduct Governing Registered Financial Advisors (2006), The Sports Agent Responsibility and Trust Act (SPARTA), the Uniform Athlete Agent Act (UAAA) (2000), The American Institute of Certified Public Accountants Code of Professional Conduct and The American Bar Association's Model Rules of Professional Conduct.;The purpose of selecting required financial disclosures to be studied was four-fold. First, the pilot studied revealed that current and prospective NFL players rely heavily on their agent for assistance in managing their complex personal, professional, and financial matters. Second, documented research shows that players in the NFL do not fully comprehend the difference between the gross and net income that is generated via their individual player contract (Dubner, 2002). Third, current NFLPA research shows that there is a discrepancy in the amount of agency fees charged by National Football League Player Association Registered Contract and Financial Advisors (Duberstein, 2003). Fourth, the impact of income taxes and agency fees on the individual player contract are enormous and failure to effectively comprehend this liability can lead to a gross mismanagement of financial resources.;Findings of this study have shown that the NFLPA Registered Contract and Financial Advisor programs have successfully assisted their members in gaining a general understanding between the gross and disposable income that is generated as a result of their individual player contract. However, it is additionally clear that although players of the NFL have a general understanding of these liabilities, they are unable to comprehend and specifically state as to exactly what percentage and total dollar figure of their contract will go towards paying the following liabilities: Federal, state, and local income tax, social security tax, applicable entertainment taxes, and agency fees. It is necessary that the NFLPA amend their processes and methods for distributing this financial information to their clients to ensure that their members are able to better grasp their financial situation.