Chapter 74 Schwartz’s Transformation

Author: Feng Yuanhua

Chapter 74 Schwartz’s Transformation

In a room of a star-rated hotel in Seattle, a sumptuous dinner was being served.

I had just finished playing the game and was hungry, so I naturally had to fill my stomach first. Jeff Schwartz was certainly not ignorant.

In addition to these two people, there are two others, both of whom are assistants to Jeff Schwartz.

Among them, Julie, the blonde beauty, is Jeff Schwartz's secretary, the kind of thing a secretary does when necessary.

The other one, a white young man, David White, is both an employee of Jeff Schwartz and Wang Hao's assistant.

Not long ago, he was responsible for Wang Hao's various affairs. Jeff Schwartz brought him here with the intention of easing the atmosphere.

After they were full of wine and food, the hotel service staff cleaned up the things, and then Jeff Schwartz spoke.

"Wang, I must say, this is great news. I am in contact with several companies and may have the opportunity to sign several endorsement deals."

Wang Hao smiled and said: "This is indeed good news, but, Jeff, I have a few small requirements for these endorsement contracts."

"oh?"

For NBA players, as long as they make money, they don't care much about endorsement contracts.

If you really care about it, you also care about the endorsement fees.

"There is no problem signing an endorsement contract, but I hope to shorten the term as much as possible while ensuring the benefits.

It’s best not to exceed three years, if it’s just one or two years, that would be better!”

"Why? Shouldn't the endorsement contract be as long as possible?"

Jeff Schwartz didn't speak. It was Julie who spoke, and her expression was full of confusion.

"Because I think that in one year or two years, the price will increase exponentially."

In fact, Jeff Schwartz had already made some guesses, but looking at Wang Hao who was so confident, he was still a little surprised.

No one can predict the future?

A few years later, you may be able to soar into the sky and become a star player, but you may also fail to recover.

Especially in sports competitions, in addition to strength, luck is also very important. Who knows when injuries will strike?

"I have to say, Wang, you are very confident!"

Wang Hao smiled and said: "I am not only confident in myself, but also confident in China.

As far as I know, China is negotiating with the United States to enter the WTO, and the United States has agreed in principle.

Once China joins the WTO, and as the first Chinese player to enter the NBA, I think I will not be short of endorsement contracts."

It is true that China only joined the WTO at the end of 2002, but this was finalized long before 2000.

Wang Hao naturally didn't know the specific time, but it was already November 1999, so it was probably around this time.

As expected, when he heard this, Jeff Schwartz was dumbfounded. Is this still a sports player he knows?

As an athlete, the low cultural level is inherited from our ancestors.

Even if there are a few smart people who have even completed college, their minds will not be so divergent.

But facing the confident Wang Hao, Schwartz had nothing to do.

"You are right, so, Wang, I did not immediately agree to those commercial endorsements.

I am actively in contact with them, hoping to get more favorable conditions.

I agree in principle with your request."

At this point, Schwartz changed his tone, smiled kindly at Wang Hao, and said.

"I think we need to update the contract."

Wang Hao was not too surprised by this. He was talking so much nonsense just to tell Jeff Schwartz.

"Hey bro, it's time to show up!"

However, when he actually saw the contract, he was still a little shocked and shocked by Jeff Schwartz's decisiveness.

The NBA has regulations. In order to protect players, the share of an employment contract signed between an agent and a player cannot exceed 4%.

According to Wang Hao's contract, Jeff Schwartz can only share 4% of the salary of US$300,000, which is US$12,000.

It’s no wonder that people weren’t interested in it before, so they provided services worth as much as they earned.

However, there are no strict regulations on commercial endorsements. After all, the NBA cannot regulate it so broadly.

According to the unspoken rules of the brokerage industry, this share ratio is about 20%, which fluctuates greatly.

In the highest case, the share ratio of commercial contracts can be as high as 40%, but the lowest is less than 10%.

Of course, whether it is 40% or less than 10%, these are very special circumstances, and the normal rate is 20%.

Previously, the contract signed by Wang Hao and Jeff Schwartz was signed according to this standard.

There is no way, this is the case for newcomers.

Perhaps to make up for his lack of care before, or perhaps to deliberately make good friends with Wang Hao, Jeff Schwartz made huge concessions.

The employment fee for NBA contracts is reduced to 2%, and for commercial endorsements, it is directly reduced to 10%.

This share ratio has become the standard for those superstars, and only they can make their agents make such concessions.

Wang Hao did it, of course not because of potential. After all, potential needs to be realized.

To put it bluntly, Jeff Schwartz really wanted to keep Wang Hao, even at the cost of making huge concessions.

Not just economic benefits, but also a future.

Jeff Schwartz wants to open up a scene in the NBA agent circle and needs an iconic figure.

I have to say that, worthy of being a future broker, he is very decisive in making choices.

"Thank you, Jeff. I see your sincerity. After my lawyer reads it, I will sign the contract."

Wang Hao is not polite either, he deserves this.

Since he entered the NBA, Jeff Schwartz has really not done much except signing a contract with the SuperSonics.

After hearing Wang Hao's words, Jeff Schwartz finally breathed a sigh of relief. He didn't care much about the benefits he gave up.

On the contrary, Wang Hao's approach made him find it very interesting and kept him alert at all times.

Many NBA players have been cheated by their agents because they were careless when signing contracts.

This includes Garnett and Duncan.

On the contrary, Wang Hao needs a lawyer to check every contract. Although he has to pay compensation, he also avoids a lot of trouble.

The main things were settled, and the atmosphere was very relaxed. After all, everyone saw the money path.

Jeff Schwartz mainly talked about the companies currently interested in Wang Hao, and even asked some interesting questions.

For example, Coca-Cola or Pepsi? Nike or Adidas?

"It doesn't matter who it is, it depends on who has better conditions!"

No matter what brand it is, it is an American company anyway, so there is no need to talk about the above sentiments.

So many of us Chinese people have a lot of affection for Nike and Adidas, but they just kick them away if they want.

So, don’t talk about your feelings with me. Talking about your feelings will hurt your money!

Hearing this, Jeff Schwartz smiled. This is in line with the spirit of a businessman. Is there any emotion when you have money?

"If possible, I hope to sign an endorsement contract before this year, and it is best to advance part of the endorsement fee."

Jeff Schwartz naturally knows Wang Hao's situation, and Wang Hao is still living in the Sonics' dormitory.

"If you need it, Wang, I can lend you some money first."

"It's okay, sooner or later I won't be here for a while."
Chapter completed!