The Economics of Entourages #
Hannah Karp takes an interesting if frivolous romp through the business practices needed for good management of a professional athlete’s entourage.
The economics vary widely. Veteran sports attorney Fallasha Erwin says he’s seen athletes give their friends lump-sum payments of as much as $100,000. But as athletes discover those types of payments can’t easily be written off their taxes, more are putting their qualified friends on professional payrolls. Salaried entourage members doing personal-assistant work typically earn $30,000 to $50,000 a year, plus a percentage of any deals they put together. Indiana Pacers forward Danny Granger, 24, has an economical one-man team — his former college roommate — who pays his own rent and will make $40,000 this year.
(via brijit)