Sports Agents Become Indispensable/Sports Marketing Booms in China

Sports agency, as we know it today, was largely defined by the efforts of the late superagent Mark McCormack, who founded International Management Group with a handshake deal to represent golfer Arnold Palmer. McCormack and his company, which later become known as IMG Worldwide, pioneered the negotiation of highly lucrative contracts for top athletes. World-class athletes can earn millions of dollars yearly by excelling in their sports, but they can also multiply their incomes significantly by endorsing products, participating in special events and speaking to groups. According to Forbes, Argentine soccer star Lionel Messi garnered $130 million through salary, winnings and endorsements, making him the number one highest paid athlete in the world in 2022.

Sports agents make this possible by serving athletes in an ever-increasing number of ways. From contract negotiation to endorsement deals to special event planning to investment planning to personal handling, agents have become indispensable to top athletes in every sport.

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