Understanding Various contracts in sports law
What are the various contracts between sports players and other parties?
There are various contracts between players and other parties are:
- Standard Player Contract
- Appearance Contract
- Endorsement Contract
- Indemnity Agreement
- Agency Contract
Standard Player Contract
Standard Player Contracts are signed between Sports Clubs and the Athlete where the Athlete agrees to play for the concerned Sports Club. These types of Contracts are signed by the athlete, regardless of their salary and bonuses.
Appearance Contracts are signed by the athlete to appear in public functions, in exchange for certain considerations. The terms of such appearance and the requisite compensation rates are established in these contracts.
Endorsement Contracts establish the relationship between the athlete and private sponsors. These contracts enable the sponsors to use the name or image of the athlete in advertisements.
These agreements are also called as Insurance Agreements. As many sportspeople are susceptible to physical injuries, this kind of contracts become quite important for the athletes, sports clubs and sports event organizer.
The agent is the person who manages most of the professional aspects of the athlete. Agent and athlete have agent and principle relation between them.
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