Sports agencies have become booming businesses in the U.S. Sports franchises receive millions of dollars each year for television and marketing rights. In addition, the remuneration for sports men and women has reached new heights. According to Forbes magazine, the top ten sports agencies negotiated $37.6 billion in contracts and ended up making 1.8 billion in profits in 2015.
Creative Artists Agency
In 2015, this agency made more than $260 million in commissions. It has also shown its clients the cash with over $6.4 billion in current player contracts. CAA has more than double profits and contracts under management compared to its nearest competitors. This firm is supported by its leading NFL division, but it represents athletes from all sports. The agency’s baseball division negotiated Robinson Cano’s $240 million deal with the Mariners, Buster Posey’s $167 million deal with the San Francisco Giants, and Ryan Howards’ $125 million deal with the Phillies. CAA has negotiated over $1.6 billion in MLB contracts.
The CAA basketball division negotiated more than $800 million in player contracts. Some of its clients include Chris Bosh and Dwayne Wade of the Miami Heat, Carmelo Anthony of the New York Knicks and Chris Paul of the Los Angeles Clippers. CAA hockey negotiated Sidney Crosby’s $104 million deal with the Pittsburgh Penguins and is the lead sports agency in the NHL with more than $1.3 billion in negotiated deals.
Boras Corporation bears the name of one of the most successful sports agents, Scott Boras. Boras created himself an empire in Newport Beach with more than $117 million in commissions. This sports agency has netted more than $ 1.7 billion in baseball contracts .Boras Corporation represents some of the biggest baseball stars including Max Scherzer of the Washington Nationals, Stephen Strasburg of the Pitchers, and Jacoby Ellsbury of the New York Yankees.
Relativity Sports has negotiated more than in $3.2 billion in player contracts and has made more than $114 million in commissions. Despite its meteoric rise, the achievements of relativity sports have recently been overshadowed by the bankruptcy claims of its parent company, relativity media. However, the future of relativity sports seems quite certain. After the studio filed for Chapter 11, a company associated with Pittsburgh Penguins co-owner and billionaire Ron Burkle discussed buying the sports agency.
The agency has increased its client list and hired football agent Ben Dogra shortly after he departed from CAA. Adrian Peterson of the Minnesota Vikings, Larry Fitzgerald of the Arizona Cardinals, Marshawn Lynch of the Seattle Seahawks Dwight Howard of the Houston Rockets, and Miguel Cabrera of the Detroit Tigers are some of its clients.
Wasserman Media Group
Wasserman Media Group, LLC represents sports men and women in a wide range of sports including the NBA, golf, and tennis. The company does marketing and endorsement contract negotiations for its clients. Its NBA division represents LaMarcus Aldridge, Anthony Davis, and Russell Westbrook. Wasserman Media Group also represents golfers including Hunter Mahan, and Zach Johnson.
Excel Sports Management
This sports agency is based in New York. It is among the most powerful agencies in the U.S representing athletes from the MLB, NBA, and Golf. It has some of the youngest and most talented baseball players in its MLB branch including Joc Pederson, Freddie Freeman, Clayton Kershaw, and Masahiro Tanaka. Excel’s list of young talent extends to its NBA department with some big names including Kevin Love, Michael Carter-Williams, Blake Griffin, and Hassan Whiteside.