[Matt Velazquez] Henry Ellenson signs with Roc Nation Sports

[Cooby Snacks]

This sums up my thoughts on the issue.

"I got the shotgun, you got the briefcase."

http://m.youtube.com/watch?v=yu3qIakos9k

[wadesworld]

Sounds/looks like Hank was probably out in LA shopping around for agents recently, ai'na?

[LON]

All Henry needs is to hire a decent grade corporate attorney from a top tier firm In Minneapolis or Milwaukee and get a decent accounting firm to handle his taxes. Don't worry about a financial adviser, just save his money and live modestly and use common sense and listen to the parents.  He has a clean cut All American image and talent,  and all the endorsement he could ever want will come his way.

You do know that there is "doing" your taxes and then there is "tax planning," right?

[rocky_warrior]

Does the ignore button not exist anymore? I really need to use it.

See the last tip on this post...
http://www.muscoop.com/index.php?topic=3.0

And folks - even if you are a racist, try not to prove it here.  It's embarrassing to see this level of ignorance. from Marquette fans/grads.

[GGGG]

That is not how guys like that look at things. Everything is how much can they steal and get away with.

This stuff plays out over a long period of time.

http://www.propertycasualty360.com/2012/10/22/broke-5-financial-horror-stories-of-professional-a?page=2&slreturn=1460481029

"Jay Z sold cocaine when he was 13, therefore he will steal Henry Ellenson's money."

And folks - even if you are a racist, try not to prove it here.  It's embarrassing to see this level of ignorance. from Marquette fans/grads.

Lol...yeah.

[Tugg Speedman]

Steph Curry's shoe business with UA may possibly be worth up to $14 BILLION to the company. His agent better have known this and how to make a deal before Steph signed any papers.

Salary is only a minority percentage of many player's income - especially if they are represented well.

They are not represented by one agent - rather it is a stable of experts in many fields including sports, product representation, tax accounting, investment and more.

http://www.cbssports.com/nba/eye-on-basketball/25503461/stephen-curry-may-be-worth-141-billion-to-under-armours-value

This is merely a wild-eyed made up Wall Street number designed to trick everyone into buying their stock.  It is not designed to give one a better understanding of what is happening.

(He is saying UA stock is going to $127, it is now at $40)

Also the analyst notes that if Steph Curry merely is as popular as Michael Jordan, the stock will not reach this target.  The analyst is making the case that Curry will be more popular that Jordan.  Good luck with that

Meanwhile in the world of actual numbers.

UA's stock is lower now that the start of the NBA season.  So 72 wins later has done nothing for UA (see a stock chart, this is Disney all over again, the money has been made, it is done.  Going sideways for years).

Curry was making $4 million/year from UA, signed a new deal last fall locking him up through 2024

http://espn.go.com/nba/story/_/id/13672569/stephen-curry-extends-sponsorship-deal-armour-2024

Terms were not disclosed.  But back to this $14 billion number.  Here is the reality of UA and Curry:

Sales of shoes were up 40 percent last quarter, with the Curry One helping Under Armour sell a record $153 million in shoes in three months. On Wednesday, the brand's founder and CEO, Kevin Plank, told investors that its footwear business, which made up 14 percent of its $3 billion in sales last year, would make up an estimated 22 percent of its projected $7.5 billion in sales by 2017.

Again, Plank's numbers above are the perfect storm, everything goes right and Curry has to be more popular than Jordan.

The larger point is all the numbers in this space are made up so be extra careful with them.

[wadesworld]

And folks - even if you are a racist, try not to prove it here.  It's embarrassing to see this level of ignorance. from Marquette fans/grads.

+1

[TSmith34, Inc.]

And folks - even if you are a racist, try not to prove it here.  It's embarrassing to see this level of ignorance. from Marquette fans/grads.

Tex meant to say Henry should hire some traditional attorneys and accountants.  That way he could absolve himself of the racism later.

[real chili 83]

I have to believe that a number of informed people were sought out for advice on who to pick for an agent, including Wojo.

I'm good with this.

[brandx]

http://www.cbssports.com/nba/eye-on-basketball/25503461/stephen-curry-may-be-worth-141-billion-to-under-armours-value

This is merely a wild-eyed made up Wall Street number designed to trick everyone into buying their stock.  It is not designed to give one a better understanding of what is happening.

(He is saying UA stock is going to $127, it is now at $40)

copy / paste


copy / paste

You miss the entire point. UA had no presence in the basketball show market before Steph. Now they are an established player. they have passed Adidas for 2nd place behind Nike. Having Steph now gives them credibility to pursue other young players who aren't locked up.

They are nowhere near Nike with Jordan, Lebron, Kobe, Durant, etc., but they are now players in the field and are in a position where someday in the future, they could compete with Nike for all the top players.

[Tugg Speedman]

You miss the entire point. UA had no presence in the basketball show market before Steph. Now they are an established player. they have passed Adidas for 2nd place behind Nike. Having Steph now gives them credibility to pursue other young players who aren't locked up.

They are nowhere near Nike with Jordan, Lebron, Kobe, Durant, etc., but they are now players in the field and are in a position where someday in the future, they could compete with Nike for all the top players.

No I get that.  But it's all about made up numbers, like Jay-Z selling his 0.073% of the Nets to Jason Kidd at a valuation of $6.85 billion.

[brandx]

No I get that.  But it's all about made up numbers, like Jay-Z selling his 0.073% of the Nets to Jason Kidd at a valuation of $6.85 billion.

That's what business is. that's why owners never want to open their books at contract negotiations with the Players' unions.

They want those made up numbers to be public. They would have to show real numbers if they open their books.

[GGGG]

Article on ROC Nation with Ellenson recruitment mention.

https://www.washingtonpost.com/sports/inside-roc-nation-sports-jay-zs-high-end-boutique-athlete-agency/2016/05/26/42287430-2372-11e6-8690-f14ca9de2972_story.html#

Didn't mention when Jay Z was planning on stealing his money.  Perhaps that comes in part two?

[Herman Cain]

Article on ROC Nation with Ellenson recruitment mention.

https://www.washingtonpost.com/sports/inside-roc-nation-sports-jay-zs-high-end-boutique-athlete-agency/2016/05/26/42287430-2372-11e6-8690-f14ca9de2972_story.html#

Didn't mention when Jay Z was planning on stealing his money.  Perhaps that comes in part two?

Henry has a wholesome All American story and doesn't need to dilute it with these kind of people. He could have hired the best corporate attorney in Milwaukee or Minneapolis to handle his contracts. The rest would have taken care of itself naturally with his success on the court.

[GGGG]

Henry has a wholesome All American story and doesn't need to dilute it with these kind of people. He could have hired the best corporate attorney in Milwaukee or Minneapolis to handle his contracts. The rest would have taken care of itself naturally with his success on the court.

Really?  You don't think agents play a role in endorsement deals?

[Frenns Liquor Depot]

Henry has a wholesome All American story and doesn't need to dilute it with these kind of people. He could have hired the best corporate attorney in Milwaukee or Minneapolis to handle his contracts. The rest would have taken care of itself naturally with his success on the court.

It seems a bit odd to get a corporate lawyer who knows nothing about the NBA to handle these things.  It's not rocket science to learn the rules, but if it were me, I m going with someone who has negotiated a contract in the NBA before - worked with off court sponsors, etc. 

But hey - it does sure cultivate an image if you go with the yooper that stayed in the holiday inn express instead.

[brandx]

Henry has a wholesome All American story and doesn't need to dilute it with these kind of people. He could have hired the best corporate attorney in Milwaukee or Minneapolis to handle his contracts. The rest would have taken care of itself naturally with his success on the court.

"these kind of people" ???

"The rest would have taken care of itself naturally with his success on the court" ????

Why even have lawyers if everything happens naturally, anyway? Do all monetary contracts happen "naturally"?

[JakeBarnes]

"these kind of people" ???

"The rest would have taken care of itself naturally with his success on the court" ????

Why even have lawyers if everything happens naturally, anyway? Do all monetary contracts happen "naturally"?

Why do you hire "those kinds of people (plumbers)" when you need something fixed with your pipes? Because they have experience in what they do, they have the connections for areas they might not know, and they've done it countless times before.  NY makes some huge assumptions about what an agency actually does.

[Bocephys]

Henry has a wholesome All American story and doesn't need to dilute it with these kind of people. He could have hired the best corporate attorney in Milwaukee or Minneapolis to handle his contracts. The rest would have taken care of itself naturally with his success on the court.

[brandx]

Why do you hire "those kinds of people (plumbers)" when you need something fixed with your pipes? Because they have experience in what they do, they have the connections for areas they might not know, and they've done it countless times before.  NY makes some huge assumptions about what an agency actually does.

Jake, why hire a plumber when my neighbor fixed his pipes once? .

NY Fan doesn't seem to have much experience in the business world.

[CTWarrior]

Jake, why hire a plumber when my neighbor fixed his pipes once? .

NY Fan doesn't seem to have much experience in the business world.

I think his point is that you're pretty much slotted into your contract value based on draft position (not an expert but I think that's right) so there isn't enough value that an agent adds to your first contract to justify a percentage of your salary vs. the hourly rate a lawyer would charge. 

So an agent needs to provide you avenues to maximize the ancillary income and offer other advice to help you max out that next contract.  I agree an agent is probably the way to go for a lottery pick, but it is not the total no-brainer you guys make it out to be.

[GGGG]

I think his point is that you're pretty much slotted into your contract value based on draft position (not an expert but I think that's right) so there isn't enough value that an agent adds to your first contract to justify a percentage of your salary vs. the hourly rate a lawyer would charge. 

So an agent needs to provide you avenues to maximize the ancillary income and offer other advice to help you max out that next contract.  I agree an agent is probably the way to go for a lottery pick, but it is not the total no-brainer you guys make it out to be.

Agents handle more than the contracts with the team.

[wadesworld]

I think his point is that you're pretty much slotted into your contract value based on draft position (not an expert but I think that's right) so there isn't enough value that an agent adds to your first contract to justify a percentage of your salary vs. the hourly rate a lawyer would charge. 

So an agent needs to provide you avenues to maximize the ancillary income and offer other advice to help you max out that next contract.  I agree an agent is probably the way to go for a lottery pick, but it is not the total no-brainer you guys make it out to be.

It is a complete no brainer.  Your agent needs to have contacts in the business and be able to get you all the information necessary to make you the most marketable player you can be.  Who's going to be picking around when you're projected to go and who in that range has a need at your position?  Who might look to trade into that range?  Who should you work out for and who should you not waste your time and energy with?  What organizations are run well and what organizations are run poorly?  What organizations would you fit in with best and which ones would you not fit in?  Should you play in the live games at the Combine or not?  What trainers should you work out with, what chefs should you have cook for you, etc.?  What endorsement opportunities are out there for you?  What public appearances, what statements should you make, who should you trust to responsibly handle and invest your money, etc. etc. etc.

[JakeBarnes]

I think his point is that you're pretty much slotted into your contract value based on draft position (not an expert but I think that's right) so there isn't enough value that an agent adds to your first contract to justify a percentage of your salary vs. the hourly rate a lawyer would charge. 

So an agent needs to provide you avenues to maximize the ancillary income and offer other advice to help you max out that next contract.  I agree an agent is probably the way to go for a lottery pick, but it is not the total no-brainer you guys make it out to be.

Yes. NBA runs with slot. But an agent does a LOT more for a player than just get a contract and a few endorsements. It's a pretty big no-brainer to get someone who has been around the block a few times.

[Benny B]

All Henry needs is to hire a decent grade corporate attorney from a top tier firm In Minneapolis or Milwaukee and get a decent accounting firm to handle his taxes. Don't worry about a financial adviser, just save his money and live modestly and use common sense and listen to the parents.  He has a clean cut All American image and talent,  and all the endorsement he could ever want will come his way.

Actually, we have $500/hr attorneys and CPAs from Mpls & Mke right here.


(I would actually consider paying the fees just to see Mutaman and JayBee working on the same team... now that'd be money well spent.)