Key points for athletes to consider before signing a sponsorship agreement
The financial rewards available to professional athletes from entering into brand endorsements are extensive. However, whilst the amount of the fee and identity of the brand is inherently important to any athlete’s decision to enter into an endorsement, athletes also need to bear in mind the impact that their endorsements and other commercial activities may have on aspects of their life other than their bank balance. This article looks at some of the key factors that athletes should consider when negotiating an endorsement agreement, including:
how best to structure the term and financials of the agreement;
awareness of potential commercial restrictions owed to third parties;
how to limit any impact on an athlete’s sporting commitments;
how to control use of an athlete’s image; and
issues arising when an endorsement ends or is suspended.
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Joe Tompkins: Senior Associate, Onside Law
Joe is a senior associate at onside law who specialises in commercial law in the sports sector. His particular focus is advising rights holders on contractual matters relating to the exploitation of their commercial and media rights, high-value sponsorship agreements and the delivery of international sporting events. He acts on a wide range of commercial matters for international federations, national governing bodies, clubs, individuals and agencies, including World Rugby, the ECB, Saracens, Team Sky and a Premier League football club.