The Ethical Duties of Sports Agents

The Ethical Duties of Sports Agents Author's Name The Institutional Affiliation Course Number and Name Instructor Name Assignment Due Date Answer 1 Sports agents have several functions. Agents assume multifaceted roles throughout their careers, acting as chief negotiators, career counselors, managers, scouts, and even managing legal liaisons, if necessary (Bull & Faure, 2022). They simultaneously assume several roles to represent their player with exceptional versatility. As chief negotiators, agents try to secure the best deal possible, which includes negotiating good salaries, bonuses, and incentives. They have to manage all the gathered funds on behalf of the athlete honestly (Anonymous, n.d.). Thus, the agent plays an important role in the athlete's development. Answer 2 Sports agents, either lawyers or non-lawyers, must operate according to ethical guidelines. The lawyers who work as agents are bound to abide by general rules and the laws of the agency (Bull & Faure, 2022). However, non-lawyer agents work only under the agency's authority. Agents should follow ethical guidelines such as fiduciary duty acting in the client's best interest (Anonymous, n.d). They should be transparent regarding fees, commissions, and other financial transactions. Lastly, agents should act professionally. They should be punctual and precise in communicating with clients and agencies. Answer 3 Conflict of interest is a common yet tricky situation in the sports agency field. There are several ways through which a sports agent can successfully resolve a conflict of interest situation, legally and ethically. (Anonymous, n.d) The step towards conflict resolution is transparency. An agent must be upfront with all clients and disclose every detail to respective clients (Rosner, 2004). After disclosing every detail, the client will decide whether to continue with the agent or if he wants to replace the agent. This practice is regarded as informed consent in the ethical duties of the agent (Anonymous, n.d). If the conflict is too serious and the client is not comfortable continuing with th...