Originally Posted by DaneMcCloud
No offense but it's clear that you aren't used to dealing with "talent".
People who earn a living from their "talent" hire others to maintain their finances, make deals in their best interest and inform them, daily if necessary, of their contractual obligations.
Doing so allows them to focus on their job, whether it's as a sports, music or movie star.
From what's been released publicly to date, it appears that the agent failed his client.
I respectfully disagree. There are quite a number of people besides sports figures and entertainers who earn a living from their "talent". I certainly do and I'm sure you do to. I have an employment contract that I have signed and it states all of the benefits I'm entitled to as well as my bonus structure. Before I signed it, I had my personal lawyer read it over just to make sure that I understood all of the language in it.
My lawyer doesn't have to contact me daily to let me know what is in my contract and I'm able to focus on my job while still worrying about all the mundane details of my day to day life including taking care of my own finances.
The problem is that these players are used to being coddled and have never had to take responsibility for the details in their day to day lives. They just assume that somebody is taking care of the stuff they are either not interested in worrying about or not smart enough to understand. Many of the retired players who have seen their fortunes reduced to nothing because they didn't take the time to understand what was happening with their money will tell you that they wish they would have taken a more active interest into their contracts and finances.