Sports Agents Become Indispensable/Sports Marketing Booms in China, Business and Industry Trends Analysis

Sports agency, as we know it today, was largely defined by the efforts of the late superagent Mark McCormack, founder of IMG Worldwide, Inc. (formerly International Management Group).  McCormack and his company 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.  Soccer superstar Cristiano Ronaldo will earn $88 million in 2016, through salary and winnings alone according to Forbes.  Another soccer player, Lionel Messi, came in as…

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