We talked with several sources from big agencies to independent agents. This summarizes their best collective advice for successfully negotiating on behalf of player clients.

Agents come in many forms, from big agencies like Wasserman, to boutique firms like Athletes First, to independent sole proprietors. But the advice that the best of them offer to up-and-coming agents is remarkably consistent. Here’s the best from the best:

Do your homework

This is the first thing mentioned by every agent. You should:

1. Know the player performance metrics and how your player ranks among his positional peers.

2. Know the marketplace trends. On the demand side, understand if teams are ascribing more or less value to the position. NFL running backs were considered lower-value positions three years ago, but have rebounded in value as the running game has returned. On the supply side, understand who else will be in the marketplace from both a draft and free agent perspective. 

3. Know the context of particular teams. Your player may have a lower or higher value to teams depending on their current depth or gaps at a given position. Teams will also be in different salary cap situations. Two teams may look at the same player very differently depending on their circumstances.

4. Understand the difference between market value and replacement value. Your client may be worth more to a team with restricted options. If your client is the sixth-best player in the league, but the only other available player is the tenth-best, it will be harder for that team to find an equivalent substitute.

Agree on your BATNA

BATNA stands for “Best Alternative to a Negotiated Agreement.” Use the homework to set a floor contract value with your client. The BATNA may include factors beyond the standalone contract value. Location, stability, or quality of the team may be non-financial factors that are meaningful to your client. A BATNA not only helps solidify your negotiating position, it also sets expectations that ease any post-negotiation seller’s regret that you may have been able to squeeze out an even better deal. You’ll both feel satisfied if you meet or exceed your agreed BATNA.

Roll like water, not like rocks

A rock stops rolling when it hits an obstacle; water just keeps going around it, over it, or under it. There are lots of creative ways you can extract more value from a contract. Deferred payments, early termination clauses, opt-in clauses, and performance bonuses that tie to either individual or team metrics represent some of the ways to get to a successfully negotiated agreement.

Negotiate differently in public than you do in private

You can play hardball with the General Manager if your position is strong. But outside the negotiating room, your player should never be anything but reasonable, grateful, and hopeful for a deal. Front office execs may not admit it, but they don’t want to be the bad guy in front of their fans. So don’t let them off the hook by giving the public any reason to think your client is to blame for a difficult negotiation. This is especially true for clients still in the prime of their careers. In that case, you have to think about the next negotiation as well. Avoid creating any grounds for a bad reputation that might lessen leverage in the next go-around.

Start early

One of the advantages of the sports industry is that you generally know when a negotiation is coming. Most of the advice provided above applies to work that should be done well before the official negotiation begins. Start the homework at least a year in advance of the contract date. There are different league restrictions on when an agent can begin negotiations with a player’s existing team or potential new team. But informal conversations with the General Manager or Owner of the player’s current team should be ongoing to get a sense of how the team views the player and to keep the relationship warm before showing up on opposite sides of the negotiating table.