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, 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.  Soccer superstar Cristiano Ronaldo earned $93 million in 2017, through salary and winnings alone…

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