At the R&B Management Group we stress the importance of having a great management team around to support talented individuals. When personalities reach a position of prominence there are a multitude of negligent opportunities and missteps that can cost this person much of what they have worked to obtain. The sports world has seen a recent example of how valuable it is to have an effective agent or manager on staff.
In professional sports, contract clauses are very important. Missing the small print can cost players millions of dollars and even more down the line due to teams never forgetting the mistake. Tarell Brown of the San Francisco 49ers recently fired his agent, Brian Overstreet of E. Overstreet Sports Management due to a situation in which the player missed out on a $2 million dollar bonus because he skipped a voluntary workout.
For those that may not understand, Brown was supposed to be paid the bonus if he showed up to a workout that was scheduled during the off-season. This was documented in his contract, but Brown did not show up to the event and was not paid the $2 million dollars. According to Brown his agent told him that he would be “OK” for not showing up, but the player would find out through Twitter that he would not receive the bonus and the snowball was sent downhill.
The financial hit could cost Brown much more than $2 million dollars. Since this bonus was a type of base salary escalator, the player could be out of additional payment increases down the line – costing him more millions. All of this is due to a misunderstanding of a valuable contract. What is even more tragic is that Overstreet’s other clients may have lost faith in him and the firm can lose more valuable players in the coming months. Not only was this mistake valuable to the player, but the agency itself is going to suffer.
The partnership between the talent and agent/manager is something that has an undeniable amount of worth. While mistakes in the professional world due happen; that does not mean they are inexcusable. Players must have the trust of the team around them both on and off the field. The same goes for every other personality within the entertainment world.
For more information about how the R&B Management Group can meet your talent management needs, visit our official website here.