Justas Kalinauskas, member of the FIBA Law Commission, said, “The FIBA Central Board has approved a number of important regulatory changes, most of which are aimed at protecting the interests of players, and especially young players under the age of 18.” said.
MAIN FIBA LICENSED MANAGERS REGULATION CHANGES
A player with more than one FIBA licensed manager will no longer be a punishable offense. With the new arrangement, players will be able to communicate with different managers at the same time.
THE AGREEMENT BETWEEN THE MANAGER AND THE PLAYER CAN BE TERMINATED BY BOTH PARTIES WITH 30 DAYS’ PRIOR NOTICE TO THE OTHER
The change provides more flexibility for mutual commitments between players and managers and for the quality of manager services. Both the player and the agent will have an easier way to cancel the contract. The change will only apply to new or updated contracts signed from January 1, 2022.
TIGHTER REGULATION OF CONFLICTS OF INTEREST
A FIBA-licensed manager will not be able to act on behalf of another club if he is already a representative of a player and/or coach at that club.
MANAGER SERVICE FEES WILL BE PAID BY THE BUYER OF THE SERVICE
From now on, the player will pay the manager fee himself when signing the contract. Unlike the previous practice, clubs will no longer have to pay for player’s manager services. The manager service fee will remain unchanged, meaning it cannot be more than 10% of the total monetary value of the contract.
INCONSISTENCES WILL BE PUNISHED
FIBA drew attention to the fact that most Release Letters did not include the player’s manager name until the change. National federations will now be required to enter the correct information into the FIBA International Player Transfer system, otherwise federations and clubs may face heavy penalties.
Justas Kalinauskas said, “The updated regulations change many practices on which management principles are based. The changes are more geared towards protecting the interests of players than before, with transparency between clubs, players, coaches and managers being the focus of attention.” said.
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