HB 873 Summary

• Requires athlete agents to be licensed individuals (not entities) as either professional athlete agents or limited athlete agents by the Department of Business and Professional Regulation, with professional agents needing certification from a national professional sports association.

• Mandates athlete agents deposit $50,000 surety bonds before contacting student athletes and $100,000 bonds before providing financial services, maintaining bonds for at least 2 years after ceasing services or license expiration.

• Prohibits athlete agents from offering or furnishing anything of value to student athletes or their relatives before the athlete completes their final intercollegiate sports contest, making violations felonies of the third degree.

• Requires licensed agents to notify the department within 30 days of criminal conviction or decertification by a national sports association, with automatic license revocation upon such occurrences.

• Makes agent contracts with student athletes in sports affiliated with national professional sports associations void if negotiated by limited license holders, and allows student athletes to sue for damages including actual, punitive, and treble damages.