The NBPA has revamped the regulations governing agents, including significantly increasing the annual dues they must pay the union based on a sliding scale, depending on the number of players they represent. Starting next season, agents with 0-9 players will pay $2,500; agents with 10-19 players will pay $5,000; and agents with 20 players or more will pay $7,500. The current dues, which have been in place for years, are $1,500, regardless of the number of NBA players the agent reps. The changes to the regulations were adopted by the NBPA Exec BOD during All-Star weekend, according to a memo that was sent to agents yesterday and obtained by THE DAILY. Additionally, the memo states the union will now ask that all agents list which recruiters or runners they work with to recruit player clients. “Agents will be subject to discipline for supplying incorrect/incomplete information and will be held liable for any conduct by a recruiter/runner that violates the regulations,” the memo states. Agents also must now disclose to the NBPA if they refer player clients to financial advisers. “Agents will be subject to discipline if their referral process is below the fiduciary standard expected of Agents,” the memo states.
RULES & REGULATIONS: New prospective agents applying for certification will now be required to take an exam covering the NBA CBA, the agent regulations and other things relevant to player representation. An agent’s certification will expire if the agent has not had a client on an NBA roster for the last five years. This new regulation will take effect July 1 and applies on a going-forward basis. The NBPA will now be able to levy monetary fines on agents, up to $100,000. The range of discipline that NBA agents can face now includes public reprimand, fine, suspension and decertification. “Please note that the NHLPA, NFLPA, and MLBPA all have the right to levy fines against Agents without limitation,” the memo states. The NBPA issued these changes to the agent regulations after the union, under Exec Dir Michele Roberts, completed a review of the rules that began last year. As reported yesterday, the NBPA will now enforce a regulation prohibiting an agent from representing players and management, including NBA coaches and/or GMs.
