Sports is a huge industry, and when connected to a business, can be as lucrative as any industry out there. There will always be a market for sports. Since ancient times, man has been captivated by physical competition so they can who truly is the best at a certain physical activity.
Sports agencies net worth — Steve Sorensen
Over the past decades, agencies have picked up on this and have begun to represent and market sports personalities. Sports agents have pocketed millions of dollars from the athletes they represent in exchange for the exposure and deals their clients have received. From transferring teams to endorsing products to simply appearing at an event, sports agencies have made big bucks, taking a percentage from what their clients are paid.
In Los Angeles for example, there’s the Creative Artists Agency or CAA, an agency valued at over $9 billion. CAA has been by far the biggest firm of its kind. They have represented stars in basketball, baseball, hockey, and football, and have earned an estimated average of $700 million a year.
But CAA isn’t the only agency out there raking in cash. There are firms such as Wasserman ($3.7 billion worth of athlete contracts) and Excel Sports Management (with several agents placed in the top 50 best sports agents in the United States), that have managed to take advantage of the countless talents in the sporting world and have made them into jaw-dropping sources of income.