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GEMALaw Sports & Entertainment Law Symposium

Darren Heitner — Mon, 12 Apr 2010 16:48:57 +0000

What: The 3rd Annual Georgetown Entertainment & Media Alliance (GEMA) Sports & Entertainment Law Symposium

When: Friday, April 16, 2010

Where: Georgetown University, McDonough Room 200

Cost: Attorney receiving CLE credit ($159, $179), Attorney/Practitioner w/out CLE credit ($99, $129), Non-Georgetown Student ($19, $39), Georgetown Student (Free, Free). First number is applicable if you register before April 7th. Second price is if you wait until after that date to register. Click here to register.

Agenda:

8:15 – 9:00 a.m. – Networking Breakfast

9:00 a.m. – Welcome and Opening Remarks

9:10 – 10:55 a.m. - Adapting to New Media: A Look at the Legal Barriers Faced by the Entertainment and Media Industries in Adapting their Business Models to Include New Media.

Dan Brenner, Partner, Hogan and Hartson
Erin Dozier – Associate General Counsel, National Association of Broadcasters
Bennett Fidlow – Partner, Schroder, Fidlow, Titley & Davis, PLC
Mark MacCarthy - Adjunct Professor, Georgetown University
Jon Sichel – Acting General Manager, Travel Channel Media

11:00 – 12:30 p.m. - The Future of the Music Industry: A Look at the Drastic Changes to the World of Music.

Robyn Guilliams – Attorney, Fettmann, Tolchin & Majors, P.C.
Marcus Johnson – Founder, Three Keys Music Label
Colin Rushing – Attorney, SoundExchange

12:30 – 1:30 -p.m. – Lunch

1:35 – 3:05 p.m. - Privacy v. Publicity: A Look at the Competing Interests of an Athlete and Entertainer’s Right to Privacy versus the Media’s Right to Speak Freely.

Meaghan Kent – Attorney, Venable LLP
Terence Ross – Partner, Crowell & Moring
Alicia Shephard – Professor, Georgetown University School of Continuing Studies; Ombudsman, National Public Radio

3:10 – 3:35 p.m. – Networking Break

3:40 – 5:10 p.m. - Labor and Arbitration in Sports: A Look at the Role of Arbitration in the Sports Industry.

Donald Fish – Assistant General Manager, Director of Legal Affairs, Washington Capitals
Damon Jones – Vice President and General Counsel, Washington Nationals
James Oldham – Professor, Georgetown Law; Labor Arbitrator
Benjamin Zelenko – Senior Counsel, Baach, Robinson and Lewis PLLC

5:10 – 6:30 p.m. – Reception

7:05 p.m. – Washington Nationals Game - Tickets will be sold in conjunction with Symposium registration at a discounted rate.

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About Darren Heitner

Darren Heitner is a CEO, sports agent, journalist, entrepreneur, and innovator. Darren created the first sports agent blog on the internet, SportsAgentBlog.com, which receives upwards of 5,000 unique visits per day from sports agents, athletes, media sources, and the general public. In the blog, everything from contract negotiations to endorsement deals are examined, providing the framework for a great deal of information upon which he has been able to depend. In 2009, Darren created EntertainmentAgentBlog.com, which has the same purpose of SAB, but focuses on the entertainment industry. Darren is also the CEO and Founder of Dynasty Athlete Representation, a full service sports and talent agency that handles contract negotiations, marketing endorsements, financial planning, legal services, etc. Darren graduated from the University of Florida in May 2007 with a Political Science Major and was valedictorian of his class. He is a member of many Honors Societies including, Florida Blue Key, Phi Beta Kappa, and Phi Kappa Phi. He is now in his third and final year at the University of Florida Levin School of Law, where he is serving his second consecutive term as the President of the Entertainment and Sports Law Society.

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Work in Sports: 6 Tips to Get Ahead

Darren Heitner — Wed, 10 Mar 2010 13:30:19 +0000

Graduating from your undergraduate institution in April or May and want to break into the business of sports (particularly in the representation of athletes) but have no idea where to start? Here’s a list of options. There is no “right” path to success, but the following list provides some insight into ways that you can better prepare yourself for the life as a sports agent and possibly get your first foot through the door.

1. Don’t Stop Learning

Have you taken the LSAT or GRE? If not, it may be too late to take either standardized test in order to be admitted into a law school or masters program this Fall. If you have taken one of the 2 tests, you may want to consider getting a graduate/law degree. For one, the NFL requires that you have one if you wish to be certified by the players’ association. But even if you just want to focus your practice on basketball, baseball, or some other sport, the knowledge, tools, and connections you will gain from a masters program or law school are very valuable in this field. My own two cents – Go to law school and see if the school allows you to take some out-of-law classes like Sport Marketing.

2. Apply for Sports Internships

This business, like most, is heavily dependent on relationships. Interning at an agency will allow you to create new bonds to people within the industry and will let you understand who you need to speak to once you are a part of the business. Also, an internship provides invaluable experience to people who hope to get into the industry. As much as I talk about the sports agent field on my site, nothing compared to hands-on experience.

3. Read Sports Business Books

If you visit my site, I provide a list of books written by sports agents. Some of the books are more valuable than others, but it is smart to read about others views and experiences in and about the industry. Some of my favorites include An Athlete’s Guide to Agents, Fifth Edition, Never Make the First Offer, and Representing the Professional Athlete.

4. Read Sports Law Review Articles

While many people seem to think that law review articles are declining in readership, some of the best scholarly work is still published in this medium. Sports Law Blog often releases new Sports Law related pieces that are released in a variety of reviews and journals. I also recently came out with a piece that is applicable for anyone looking to break into the industry – http://www.dartmouthlawjournal.org/articles/Heitner.pdf.

5. Attend Sports Symposiums

More important than the information learned at these events is the possibility to meet and network with those who have established names for themselves in the industry. Who knows, you just might land an internship or a job with someone speaking on a panel. Oftentimes, those in attendance are also involved in the industry or are lawyers looking for a way in. And the panels also happen to be very interesting. I have had the pleasure of participating as a speaker on quite a few panels as of late. I will be on one or two panels at the upcoming St. Thomas University Sports and Entertainment Law Society Symposium on March 13. If you are in Miami and will be at the event, make sure to connect with me.

6. Do Something No One Has Done

My big break was in the creation of SportAagentBlog.com What unique value will you bring to the industry? How will you stand out? The industry is cluttered with bright minds. Find out what makes you special.

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Tim Tebow’s Marketing Potential

Darren Heitner — Mon, 04 Jan 2010 14:00:24 +0000

I am tired of hearing “football experts” opinion that Tim Tebow does not have the make-up to be an NFL quarterback. “He’s too heavy.” “He starts his throwing motion too close to the ground.” “He takes too long to release the ball.” “He does not find the open receiver.” “His build is more suited for a fullback or tight-end.” Tebow recently stated that all he wants is a chance to prove himself as a quarterback at the next level. He will be given that chance, but even if he does not succeed in that position, he will still make enough money to support his lifestyle for the rest of his life.

As an agent, I have not involved myself in the sport of football as much as in my other divisions. Sometimes I cannot stand the characters involved. I am generalizing here, but football agents at times care less about ethics and the players often lack any sense of loyalty. Tim Tebow is the type of player who would make me forget that and instead be wishing he was a client of my agency.

Tebow will likely be a first round pick, even though it is unknown how he will fare on the professional field. However, aren’t all college football players risks? Eric Crouch and Gino Torretta won the Heisman Trophy. They didn’t do anything in the NFL. If the Jacksonville Jaguars draft Tebow, as many assume they will, the Jacksonville native will immediately increase ticket sales. The NFL is a business at its core, and ticket sales drive team earnings. Jacksonville has done a pathetic job of filling its seats making many believe, not too long ago, that the team would move to Los Angeles.

Tebow is a marketing agent’s dream. Tim was not even supposed to live past birth. He survived and was home schooled, while he parents instilled a strong sense of faith in him. That explains the eye blacks that Tebow used every game as a college football player. Each week, he displayed a verse from the Bible. He cares about three things: His family, his faith, and service. Every year, Tim goes to the Philippines to do missionary work.

The guy who many believe can run better than he can pass, just threw for 482 yards against Cincinnati, who was undefeated going into the Sugar Bowl. Tim Tebow shows his emotions. If he is not smiling on the field, he is probably crying, but he is a guy who any team would want on their side and any company would want endorsing their products. Whether he makes it as a professional Quarterback or not, he will be successful in life and a great return for any company that invests their money in him.

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How to Network at a Sports Symposium

Darren Heitner — Tue, 01 Dec 2009 14:43:19 +0000

We are about to enter Sports Symposium season. This Friday is the granddaddy of them all: The Princeton Sports Symposium. Amongst the panelists are former Baltimore Orioles and Chicago White Sox general manager Roland Hemond, Sports Illustrated senior writer Tom Verducci, President of Ponturo Management and chairman of the Leverage Agency sports marketing firm Tony Ponturo, IMG agency’s executive vice president of sports programming Barry Frank, etc.

Other fantastic symposiums that are right around the corner include the UF Sports Law Symposium on January 29, 2010 and the University of Miami’s 13th Annual Entertainment and Sports Law Symposium on February 5, 2010. Travel costs in this economy are not always easy to justify, but these events are some of the best places to learn about the business of sports. They are also the premier spots to network with the sports industry’s leaders.

If you are fortunate enough to attend at least one of the major sports symposia, you should go to the functions fully prepared to network effectively. Below, I provide some Dos and Don’ts so that you are able to venture to these locations with a full arsenal.

Dos

Bring at least 100 business cards. Don’t have a company? No problem. Get creative. Symposiums are great places to meet a bunch of new people. For the people you already know or have communicated with, don’t waste their time exchanging the paper. Pretend that you care about the environment and keep the cards in your pocket. For the people you would like to know, start with a handshake and ease your way into a conversation before you exchange your contact details. Grab other peoples’ cards and after the symposium, use that information to link up with them on sites like LinkedIn.
Put your nametag on the side of your body that you shake hands with. Simple thing that many people miss. I am terrible with names; do everything you can to make me remember yours. If you shake with your right hand, put your nametag on your right lapel.
Talk to as many people as you can during breaks. Breaks are not for coffee and cake. They are the primetime to network. Find someone who is not on a phone and not already with a group of people. Introduce yourself.
Get to the symposium early and stay late. Use every moment available to try to meet new people. Make yourself seen and stand out as much as possible. Leave the lime green button down at home (unless you can pull it off…and kudos to you if you can), but make people wonder why you seem to be so important.
Smile. No one got great sleep the night before and everyone is going to be groggy by the end of the day. Cheer other people up with your brilliance.
Butter up the organizer. No matter how much prep you put into this day, the organizer of the symposium has put 10,000 times as much effort into making sure that the event runs smoothly. The organizer is someone you want on your side, as he/she had to secure all the speakers to attend. You better believe that the organizer has quite a few connections.

Don’ts

Skip panels to network. While the networking is great, the main purpose you are there is to learn from those who have a lot to share. Skipping the panels to network is frowned upon. Bathroom breaks are permissible, and small talk from the room to the bathroom is fine. There will be plenty of time to schmooze.
Talk about how you can’t wait to get out of there. Then why are you there in the first place? You have to have something better to talk about.
Lack enthusiasm. This is your one chance to be in front of the “decision makers” in this industry. You don’t have to call a central office and be redirected to a voicemail, only to never hear back from the person you are trying to contact. Drink 10 cups of coffee and be ready for showtime.
Forget your notepad. Jot notes about the topics discussed on the panels, but also keep notes on the people you meet outside of the rooms. Don’t do it in front of those you just talked with, but when you have a chance, make some notes so that you have something to follow up on with the subjects you met.

If you are at this Friday’s Princeton Sports Symposium, make sure to come say hi to me. I will be a panelist on the Partnership Activation Rising Stars Panel along with some other awesome young entrepreneurs. It’s at the same time as Lewis Howes’ panel, so you better be going back and forth between the excellent panels instead of trying to network with those taking a bathroom break!

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8 Ways Agents Should Research Athletes Before They Sign Them

Darren Heitner — Mon, 28 Sep 2009 14:16:13 +0000

Sports agents who take any and every athlete who contacts them on their website will not last very long in this industry. Representing athletes is much like playing the stock market; you have to make a rather large initial investment in order to have a chance to make any significant profit.

You could load up with a bunch of penny stocks that are high risk, do not cost much. One or two of those athletes break through and you could be generating a solid profit. On the other hand, you could invest big money into a guy with proven skill and high ratings from scouts. Unfortunately, the main difference between stocks and athletes is that stocks are not going to leave you mid-investment. An athlete can.

A big decision for agents, especially in the offseason, is figuring out a list of players to recruit. There are people who are high up on the list because of talent and factors that lead the agent to believe that he would be an easier guy to recruit, whether it be due to proximity, relationships with current clients, etc. There are also “reaches”, guys agents would like to represent, but will cost a lot of time and money to get in front of, and most likely will not go with you.

On to some of my methods of research.

1. Scouting services:

Some services are free and some you have to pay for. In basketball, one of my favorite services is DraftExpress.com. A site developed by a fellow Gator grad, Jonathan Givony, DraftExpress provides up to date scouting reports on a variety of talented basketball players and hits up almost every showcase on the planet. In baseball, my pick is Perfect Game Crosschecker (pgcrosschecker.com). They provide thorough rankings of future draft classes, break it down state-by-state, hit up the major showcases, and provide detailed information for top prospects. Want to know a prospect’s parents names? They have you covered. BaseballAmerica’s Prospect Plus program is also strong, but it stops covering players once they graduate from high school. In football, I am a fan of the old NFLDraftScout.com. Since it was acquired by CBS Sports, I have been looking for a suitable alternative. While it is not strictly a scouting service, I enjoy Neil Stratton’s InsideTheLeague.com, which highlights player movement, which agencies are going after which players, and provides draft expectancy for the next class of players, by school.

2. Scouts:

Scouting services are the 2nd best option to actually talking to scouts. This is something hard for new agents to do, because their rolodex may be thin in this area. Over time, and as an agent picks up more players within various organizations, these contacts develop. Hold them near and dear. In baseball, the scouts not only tell the organizations who to draft, but are also often in charge of presenting the offer sheet.

3. Facebook:

Want to know a kid’s character? You are not going to find that out through a scouting service. Nothing beats meeting the player and his family in person, but sometimes money and time get in the way. Also, Facebook can be a way to weed out some guys on your list so that you do not have to waste the time of traveling to visit them in the first place. Check the player’s interests, see what types of videos and pictures he is posting. Are his status updates worrying you? Only take players who will allow you to sleep well at night. Facebook helps.

4. In-Person meeting:

If a player passes the Facebook test and you talk with him and his family over the phone and through email, it is very important to meet them in person. Living in an area where you base most of your recruiting is important so that you are able to save on the valuable areas of time and money. I dress differently depending on the setting of the meeting. If I am going to an athlete’s game, I won’t wear a suit and tie. I’ll dress comfortable, especially since it is usually 90+ degrees in the state of Florida. A Dynasty t-shirt and jeans work. If I am visiting a player at his home, a button down with slacks is more appropriate. Impress the player and his family, but don’t scare them off, either.

5. Use your current clients:

Your current clients are invaluable sources of information. Many of them have either played with the guy you are recruiting or have heard things from others who have played with them. In fact, you may not even know that one of your clients knows the guy personally, and would be happy to put in a phone call to him to supply praise for your agency.

6. Use other guys you are recruiting:

Perhaps you have already decided that you will recruit another player at the same school. Talk to him and ask him what he thinks of this other guy you are thinking about recruiting. It may lead to a package deal, or you may realize that you want to only stick with the first guy since their personalities don’t mesh. The original player may say that in no way will he sign with an agency that his teammate signs with. This is important information to garner.

7. Talk to the player’s coach:

This will accomplish two things: 1) The coach may know the player more than the player’s own family. He knows the player’s work ethic, potential of growth, and personality on and off the field. 2) Building a relationship with the coach will help you recruit more of his players down the line. Additionally, if you do a good job with his players, the coach may ask you to represent him!

8. Use intuition:

When it comes down to making a decision on if you want to spend your time and money to recruit a player and then a lot more time and money to actually represent him, you have to take everything that you have learned in the points above and then really make a decision that is best for you and your company. Sometimes, you need to ignore some of the negative statements you read or hear because you truly believe in the athlete. Intuition is probably the most valuable component of this list.

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An Agents Guide To Athletes

Darren Heitner — Thu, 27 Aug 2009 13:55:44 +0000

In roughly four months, Bob Ruxin and I will be releasing a new book: An Athlete’s Guide to Agents, 5^th Edition. The book will cover everything from NCAA rules and regulations to turning pro early…and it even discusses the agent selection process. That process is not a one-way street. The principal is the athlete, who has control over his agent; however, the agent also has to agree to represent the athlete.

Athletes are often asked, “What influenced you to pick the particular agent/agency you chose for contractual and/or marketing representation,” but a question that is rarely asked of an agent is, “Why did you choose to recruit that particular player to be your client?” Some agents, especially those first starting on their own, do not have the luxury of being picky. But once an agent has a firm client-base, he is not going to go after twenty players in all fifty states.

So how does Mr. Somewhat Established Agent decide who to spend his time and money on? At the end of the day, if the potential client is not going to make the agent any money, then he is most likely not worth the agent’s time. I say most likely, because sometimes an agent may think about taking a player because of his referrals.

Let’s say a player is sub-par and has no shot at a long-term professional career, but he went to the strongest high school in his state for the sport that he played and retains a strong connection to the coaches and talented players who will one day go pro. That may be a guy you invest in because of the benefits he may bring to the table on referrals.

For the most part, though, an agent is only going to focus on recruiting the studs: The guys who are going to get the big bonuses and the strong multi-year contracts. That said, many agents will tell you that it is tough to recruit based on talent, alone. At my company, I will not take in a client, no matter how amazing he is at his sport, if he lacks character. You may be thinking to yourself that I am full of shit. But I tell you no lie. I am not about to invest five figures in a guy that I do not 100% believe in. That same guy can take my money and run. And it happens a lot in this business.

In judging character, I look for many attributes:

1) Care for one’s family,

2) Hard work ethic on-and-off the field,

3) A non-acceptance of mediocrity,

4) An openness to experiment with new ideas and technologies,

5) If there is a support system in place, that the athlete understands who has his best interests in mind and who is just there for a piece of the pie.

There are many more things that I search to figure out, but this is just a small sample for you to take a look at.

For all the criticism that was thrown at Mike Vick after he was convicted of dog-fighting charges, his agent, Joel Segal of BEST, stuck by his side. Was it because Mike Vick is an exceptionally talented athlete? That is part of the answer. But my opinion is that Segal sees something in Vick that many of us are not able to figure out from all of the media spin: That Vick’s character has changed and he is a new man.

We will be able to judge if this is the case, but I doubt that Segal and BEST would put their names on the line if they did not believe in Vick as a person outside of football. On the other end, current UFL Commissioner, Michael Huyghue, dropped Adam “Pacman” Jones as a client after his run in with the law. Commissions on Pacman’s contracts obviously were not worth dealing with the whole package.

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Should Sports Agents Network With Their Competition?

Darren Heitner — Mon, 17 Aug 2009 14:40:00 +0000

“If you’re an agent, don’t be friends with other agents.”

It should not come as a surprise that the agent who wrote the statement above is one of only a very few in my industry that I do not get along with. He attempts to steal clients from other companies, talks down on his competition instead of listing his positive qualities to potential clients, and will be dealt with by his players’ association, and hopefully weeded out of the industry. But is he correct in his statement? If you are an agent, should you treat all other agents as your enemies and never speak to them, only about them?

I have taken the exact opposite stance and since founding SportsAgentBlog.com on December 31, 2005, attempted to befriend as many agents as possible. Those agents know that I have my own practice and that they have or will be competing with me over clients, but 9 times out of 10, are happy to network.

I have found many benefits from networking with others in my industry:

1. Advice.

No matter how many years of experience you have in your practice, you have not encountered every possible scenario. It is nice to have a group of connections that you can ask a question to without wondering if they will use it against you. If you think that the players’ associations will answer all of your questions (in a timely fashion), think again.

2. Recommendations.

You might be interested in only representing professional basketball players. If you network with an agent who only represents professional football players and that agent gets a call from a basketball player looking for solid representation, you may get a referral at my favorite price (free).

3. Credibility.

I am only 24-years-old. I still have another 6 months before I become 25. So age is often a concern for players and their families when I approach them about representation. I can show off my body of work and current client base, but it also helps to have others in my own industry with much more experience as friends. I can name drop BJ Armstrong, Matt Sosnick, Glenn Toby, etc, and they would all be more than happy to say something positive about me (at least I hope that is the case!).

4. Additional Connections.

Today’s agent does not only negotiate professional contracts. He helps an athlete with retirement planning, financial planning, setting up charities, finding endorsement opportunities, social media strategy…need I go on? Undoubtedly, you are not an expert in every area mentioned, and you may not be connected to some of the best in those professions. Your agent buddies may be able to help connect you with others, who in turn, will give you a better chance at retaining the clients you fought so hard for in the first place.

Through SportsAgentBlog.com, LinkedIn, Twitter, Facebook, and the Blackberry that never leaves my side, I have created a huge network of agents that I consider friends. I routinely get emails from agents who appreciate my work with the blog and what I have done with Dynasty at such a young age. Should I respond to their emails and calls by telling them to F off? That sounds silly to me. And I actually enjoy being friends with my colleagues (yes, competition can be colleagues).

Agents get a bad enough reputation from the media as is. Overall, sports fans don’t like us (holdouts/high salaries), our wives/girlfriends don’t

like us (always traveling/at the computer/on the phone)…hell, everyone calls us Jerry Maguire, individually. At least we can like each other. We have to deal with each other at recruiting events, annual meetings, and professional games. Let’s at least pretend to get along.

And don’t get mad at me if I write something semi-damaging about you on my blog. I’m just reporting the facts, and the site helps pay the bills.

Photo Credits: Enemies; Jerry Maguire

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Keep it Personal or Get Down to Business?

Darren Heitner — Wed, 05 Aug 2009 11:58:46 +0000

There are not enough hours in the day to successfully manage a plethora of social media profiles. The bottom line is that you need to make money. Social networking sites will help you build a strong network of contacts, but you still must devote a large portion of your business day to selling and perfecting the actual services you provide in order to generate some sort of income. Personally, I have taken a liking to Facebook and Twitter. I never managed to build up a strong enough Digg reputation and StumbleUpon is not a site I travel to very often.

Let’s say you are like me, and use your Facebook profile primarily to connect with friends and share photos. I also have a Facebook Fan Page for my company, where I provide updates and links to stories written about my clients. Okay, that’s an easy split. But what about Twitter? Should you be Tweeting about your business from your personal account, or should you have a separate business account to manage all business-related tweets?

Until recently, I devoted a large chunk of my personal Twitter profile tweets to updates about my company and clients. But I have rarely tweeted about my business from that account since creating a separate account for my company. I use CoTweet to allow other employees access to the business Twitter profile, so that I am not the only one who can update our followers about Dynasty news.

The consequence of this action is that I am submitting less Tweets from my personal account, but at least my followers are getting updates about me, which after all, is the person they chose to follow. If you really want to know about Pete Parise getting a save for the AAA Memphis Redbirds, or Rulon Davis’s chances of making the Denver Broncos active roster, you can do that too…but you are going to have to follow my company’s profile.

Is it a good idea to create this split? My company profile has much less followers, but it was also not created nearly as long ago as my personal account. Is a company profile even interesting enough to be its own entity?

Photo Credits: Facebook ; Twitter

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Endorsements 2 Point 0

Darren Heitner — Fri, 31 Jul 2009 14:35:34 +0000

Most amateur athletes have recurring dreams about that future big payday. They assume that the money will start pouring in once they sign a contract with a professional organization in a large American sports league. For many, that day never comes. For those who do “go pro” they will quickly realize that the first contract does not pay much. The second and third contract will garner the big bucks. In all actuality, though, if an athlete wants to truly strike it rich, he will be the best at his trade, and command most of his earnings off of the field of play.

Tiger Woods, Phil Mickelson, LeBron James, and a host of other superstar athletes make more money per year in endorsements than in salary and winnings. An endorsement is simply an athlete giving approval, sanctioning, and support to a product or service. The product or service being endorsed hopes to benefit from a boost in image through the association with the athlete…with the intention of earning more profits in the end. The athlete receives compensation for endorsing the product or service.

In the past, endorsements included an athlete making public appearances, recording television commercials, and posing for billboards, often in exchange for an up-front payment. Times are changing. Many companies want to know that they are getting value from their endorsers, and have decided to strike deals that include the athletes as a part of their core business. For instance, you have undoubtedly seen Mike Golic on TV promoting Nutrisystem. He reveals a unique URL that provides a discount to those who sign up for the service. This serves as a tracker, which may be built into his payout per the contract Golic signed with the company. Expect to see more of this in the future.

Twitter and Facebook will continue to promote these new types of endorsements. Dwight Howard has over 350,000 fans on his Facebook page. A company may ask his agent to post a link on that page to the company’s product or service. That same company may buy a certain number of “endorsed tweets” on Twitter. The links and tweets can have certain trackers built in, to see how much value the athlete is bringing to the company. The new mediums allow companies to track results, but also integrate the strong communication features of these social networks. A brilliant viral campaign or a fun contest can be much more beneficial than a paid tweet.

In sum, I believe that in the future, we will see more athletes working with companies looking for endorsements, instead of working for them. Gone are the days of huge up-front payments for a plain old endorsement. Endorsements 2.0 is about using the new mediums effectively and paying athletes for the true value that they bring to the table. Dream about that for a while.

Photo Credits: Preppy Princess and Bettorsedge

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