Sports Professional Management - Our Services

By: Spm Sports  09-12-2011
Keywords: Athletes, Disability Insurance, Investment Professionals

As a family advisor, Sports Professional Management will provide advice and direction to families who are looking for assistance with their son's collegiate and professional careers. Through significant experience and developed relationships, we will provide insight and help make important decisions for your son as he prepares for different stages of his hockey career and life. Any involvement or association with our clients is completely within the NCAA rules and regulations. This is a verbal agreement with no contracts or fees.

At Sports Professional Management, we work with each player individually during the negotiating process to structure a contract that is specific to his needs. Through this effort, Sports Professional Management negotiated one of the first "one-way" contracts for a player out of college. We were also the first to create contract language such as an "overall contract guarantee", "Olympic Team clause", and an "Education clause payable in cash". At Sports Professional Management, we use all of our resources to enhance a contract's value and provide our players with the best opportunity to be successful.

We have had significant experience and success in negotiating contracts for players at every stage of their careers. We have negotiated "salary cap" contracts for entry level players; helped one of our players to receive the largest salary arbitration award in the history of the NHL; and negotiated one of the largest contracts in all of sports for a client. No matter what contractual situation a player is in, Sports Professional Management has been there before, and our clients can rely upon our experience to negotiate a successful result.

Sports Professional Management offers its players access to a full range of investment and insurance products. Sports Professional Management has established relationships with top investment firms, insurance companies and banks in the United States and Canada to assist its players with investment decisions and planning. We specialize in conservative investment strategies that enable our players to maintain their high standards of living even after their playing careers are over.

Whether you are a first year professional in need of an organized budget, a player in the middle of his career accumulating wealth, or a veteran preparing for retirement, Sports Professional Management will help to insure that your financial goals are met. We have all heard the stories of athletes that have squandered their earnings or have lost a lot of money in inappropriate investments, at Sports Professional Management, we align our players with investment professionals from top firms, who will educate each of our players and provide them with a plan so this cannot and will not happen to them.

Sports Professional Management supplies its clients with a complete range of tax preparation and planning. Lewis Gross personally oversees every client's tax preparation and works with each player to institute a proper financial plan. Lewis Gross has had extensive experience in handling athletes and has spoken at many conferences on athletes and taxation. Sports Professional Management realizes that in today's environment, it is crucial to provide our players with the best tax service possible.

Taxation of professional athletes has dramatically changed over the years. Currently, most of the U.S. states require an athlete to file an income tax return in that state, if the athlete plays a game there. This has placed a huge burden on the athlete in terms of necessary filing. Sports Professional Management makes sure that every player files whatever returns are necessary. Since all the preparation is done in-house, we are not concerned with the costs of filing, only that the athlete complies with the law.

As a player moves forward in his career and his earnings continue to increase, there is the necessity to create an estate plan. The U.S. government can take over 50% of a players net worth, without proper estate planning. Therefore, as part of our fee, Sports Professional Management covers the cost of a proper estate plan. We are one of the few agencies offering this service. Once again, it is part of our efforts to protect our players both during and after their careers.

Whether you are a National Hockey League player, Minor League player, or have yet to turn professional, disability insurance can be a very important tool by which to limit your risk and insure your current and/or future earnings against injury and illness.

As a professional, depending upon the league in which he is playing, a player receives career ending disability insurance benefits through either the NHL and the NHLPA, or the PHPA. Often, however, this coverage is not enough to sufficiently protect the player. Sports Professional Management closely monitors each player's needs, and utilizes four different disability insurance specialists to support the player's coverage when needed.

Sports Professional Management also educates players and their families to the disability insurance options available to a player prior to turning professional. The NCAA, for example, has instituted a program by which top collegiate players can insure themselves without having to come out of their pocket up front, to pay the premium. This coverage is designed to insure the player's future earning potential, as a professional, while playing as an amateur in college.

Sports Professional Management can help design a disability insurance plan to cover a player's needs at every point in his career.

Sports Professional Management is fully equipped to provide its players with a variety of marketing and endorsement opportunities. We have been successful in negotiating some of the largest equipment and trading card contracts for our clients. Futhermore, we are constantly searching for opportunities for our athletes on both a regional and national level. Our athletes have been seen in television, radio and print advertisements, as well as in numerous personal appearances throughout North America. Sports Professional Management also puts together hockey schools for our individual players, which can be an excellent source of summer income.

It is our goal to provide our athletes with a constant flow of marketing revenue, while introducing them to business contacts that provide our players with excellent opportunities after retirement. The following is a partial list of corporations that we have negotiated endorsement deals with: Sony, BMW, Burger King, Warner Brothers, as well as virtually every hockey equipment manufacturer and trading card company.

Sports Professional Management continues to service its clients even after they retire from playing. Everything that we do for our players during their careers; contract negotiation, tax planning, investment strategies, marketing and business opportunities etc., are geared towards creating a successful retirement for them.

We are always exploring post career opportunities for our players such as the ownership of minor league teams, franchising of sporting goods stores, coaching opportunities and media positions, as well as non-sports related ventures.

When you choose Sports Professional Management to represent you, you are choosing a firm that will work hard for you in every aspect of your career and your life.

Keywords: Athletes, Disability Insurance, Investment Professionals