Likely be selected in the first round of the nba draft

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Reference no: EM133615359

Question

Joe Roberts, 22 years old, is the star of the State University basketball team. He will likely be selected in the first round of the NBA draft. Needless to say, Joe is being wined and dined by several sports agents, and each has been providing Joe with "incentives" to be selected as his agent. These incentives range from trips to Las Vegas to Rolex watches. This is all overwhelming for Joe, as he grew up on a farm in Kansas. His parents are also being wined and dined in hopes that they can influence him in his choice of agents. After finally selecting an agent, the time has come to negotiate with the basketball team that selected him. Joe relies completely on the agent in these dealings. Joe is just interested in playing ball, and he does not really care much about the financial details. Joe's agent is in the final negotiating stages with the San Antonio Spurs. The potential offer is $3.5 million for the first year, a signing bonus, and incentive bonuses based on his and the team's performance plus fringe benefits. These benefits will include health and dental insurance, life insurance, a team car, a clothing allowance,

Reference no: EM133615359

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