The sport of sports agent-finance has been the subject of a lot of discussion recently, as more and more agents have registered themselves to act as sports agents in India.
A few years ago, sports agent registrations were relatively limited in India, and only registered agents with a net worth of Rs 50 lakh could register for the sport.
In India, sports agents are now becoming a lot more common.
With the advent of the National Sports Agent Registration Act (NSARA) 2016, sports agencies can now register sports agents for sports in India and overseas.
In India, Sports Agents Act, 2017 was passed on August 18, 2017 by the Parliament and was expected to become law within the next two years.
But as the sport has only been around for a few years, it will take a long time for it to become a reality in the country.
As of now, there are no specific rules to follow for registering an agent in India to take up the role of an agent.
The Indian government, however, has made it very clear that it will not accept any “illegal” sports agent in the sport, and sports agents must abide by the existing rules of registration.
This has led many agents to feel like they have no choice but to follow the NSARA rules.
Here are some of the rules of the game for registering sports agents:1.
A sports agent must have a net wealth of Rs50 lakh, as per the NSRA definition of net worth.2.
An agent cannot act as an agent for any sports entity if they have a current net worth under Rs 50,000.3.
An agency must submit an application within three months of registration to the Registrar General of Sport (RFSA), in case of any queries regarding the agent.4.
An application must contain the following:A statement of the identity of the agent as an athlete, as well as the details of the agency which registered the agent and the name of the sports agency, including the registration number of the registered agent.5.
An explanation as to why the agent has applied for registration and the reasons for it.6.
An account of any expenditure incurred by the agency, such as salaries, travel expenses, or other expenses incurred by it in relation to sports.7.
A statement of any interest in any sports organisation, or in any other entity, in relation the agent’s registration.8.
A declaration of any financial interest held by the agent, and of any income earned from any business in the past year, for the benefit of the person who registered the sports agent.9.
A copy of the name and address of the officer who has registered the agency.10.
A letter from the Registrar of Sport confirming that the agent was registered, and the date of its filing.11.
A list of the names and addresses of the agents and agents of other registered sports agents.12.
A certification from the Commissioner of Sport that the person is the registered representative of the entity that registered the person as an agency.13.
A certificate from the officer of the applicant verifying that the applicant has met the requirements of the NSRAA.14.
A form on which the applicant’s financial interest in the sports entity is recorded.15.
An affidavit from the registered agents, signed by the applicant, that the names of the athletes and the sports organisations registered by the registered agency are not for sale.16.
An undertaking from the agent that the information provided by the person has been verified.17.
A certified copy of a written declaration signed by an agent stating that the registered sports agent is a representative of an entity that is registered in the name mentioned above.18.
An assurance from the agency that the written declaration and information given by the individual to the agent are genuine.19.
An acknowledgement from the licensed agent that any fee or fee-based charges are payable by the sports authority for the purpose of registering the sports officer, as is the case in case the registered entity is not registered with the licensing authority of the licensing authorities of the state in which the sports organization is registered.20.
A receipt from the sports administrator of the licensed sports agent stating the payment made by the licensed agency for registration of the licensee’s sports organisation.21.
An advertisement for registration in the media of the individual’s sporting achievements.22.
An agreement from the individual, signed with the sports manager of the licensee of the sporting organization, stating that they are aware of the professional standing of the athlete of the licencee.23.
An acknowledgment from the athlete from the licensees of the sport that the sports organisation is registered with them.24.
An admission by the athlete that the individual has taken the necessary steps to verify the financial information given to him by the professional agent, including that the athlete has registered with a financial agent.25.
An affirmation from the licensee that the athletic activity of the player has been registered with such financial agent, along with the financial agent’s agreement.26. A