How do agents and agencies typically get compensated for sponsorship deals?
Answered in: Sponsor Interviews & Expert Sessions — Series BundleThe Answer
Compensation structures vary but typically include: retainer-based payment (six months to one year) plus a percentage of every deal brought in. The lower the retainer, the higher the percentage; with no retainer, the percentage is even higher. These percentages don't decrease on renewals - agents continue to receive their percentage as long as the partners stay with the athlete, since the agent originally brought the deal. This protects agents from athletes who might try to cut them out after deals are secured. Athletes need to understand that if an agent brings funding they never had before, that agent deserves ongoing compensation for as long as those sponsor relationships continue.
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Sponsor Interviews & Expert Sessions — Series Bundle
Long-form conversations with the people who write the checks and the people who help racers get them: Monster Energy's CFO, Coca-Cola, Hookit, the Mint 400, Wahoo's, super-agent Bob Walker, Megan Meyer and more. 14 recordings, 8 hr 56 min. Includes: Monster Energy CFO Explains ROI; Al Rondon of Coca Cola explains what sponsors want; How Monster Joe selects teams to sponsor; Bob Walker explains everything about agents & agencies; Matt Martelli on sponsorships and activations; How Hookit values social media; Megan Meyer on how to grow a social following; Megan Meyer on creating value with social media; Wing Lam on getting sponsored by Wahoo's FIsh Taco; Get the media to talk about you; Creating 20 Years of Value; Rob Mac 30 Year BFG; Why BOXO USA sponsors racing; Why K&N Filters sponsors racing.
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