Sponsored Athlete Agreement
There are an ever-increasing number of governance codes for athletes to follow. It is important that these codes are not overlooked when developing a sponsorship contract. Monitoring these rules can lead to the cancellation of the agreement or a lengthy dispute with the governing body. Fees and payments are a common cause of litigation in many trade agreements. If there is a problem, it may be helpful to have a provision that describes the dispute resolution procedure in your sponsorship agreement. This will help you and the sponsor try to find a solution before you take further legal action. Sponsorship agreements are common for sports stars. The assignment is an unusual litigation factor, but it should be taken into account in the development of the agreement. The task comes into effect when a sponsor enters into a contract with an athlete and the sponsor is then merged or taken over by another entity. The question here is whether, in accordance with the contractual terms, the athlete remains indebted to the new company. Sponsorship agreements for MotoGP and motorsport in general are no different from traditional sports sponsorship agreements, both in terms of form and overall content. Of course, each discipline has its own specificities that the agreement should reflect.
In the motorcycle world championship, for example, the correct application of logos on motorcycles, uniforms, boxes, trucks, etc., plays a central role. For this reason, each medium intended to ensure visibility is clearly defined in the agreement, as well as the size of each sponsor`s logo, which is indicated in square centimeters. All this information is gathered in the graphic appendices, which constitute an extremely important part of the agreement, in the form of drawings that provide visual support for the content of the agreement. Another aspect that deserves reflection is the athlete who is involved in the sponsorship, as it does not necessarily involve the whole team. Very often, companies choose to have their logo on one driver, not both, because the other rider on the team may already have one or more sponsors. In these cases, the sponsorship contract will explicitly indicate on paper the athletes involved and indicate whether the sponsorship also concerns the driver`s staff and part of the box. As mentioned at the beginning of this article, many people contact us to request a sponsorship contract that they can process and send to their customers for their sponsorship offers. Our recommendation – the answer we always give – is to move away from any price of facsimile agreements. These are things you have to negotiate with the other party before entering into a sponsorship agreement. They must also take into account the duration of the agreement and whether it is still in progress or whether it can be renewed automatically. You should understand how to terminate the contract if the sponsor does not meet its obligations.
The benefits of a duly drafted agreement by a professional lawyer are maximized as soon as things go in an unforeseen direction and the first problems arise – and it`s not just sponsorship, I`m afraid.
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