What Is a Texas Athlete Agent Bond?
The Texas Secretary of State requires all athlete agents working in the state to file a $50,000 surety bond. This ensures sports agents do not commit fraud or break regulations.
If an athlete agent intends to enter a financial services contract or provide financial services for one or more athletes, they must file an additional $100,000 financial services surety bond to protect interested parties from harm.
How Do Athlete Agent Bonds Work??
Texas athlete agent surety bonds ensure athlete agents fulfill all obligations under Chapter 2051 of the Occupations Code. Violations of Chapter 2051 include, but are not limited to, the following acts:
- Initiating unauthorized contact with an athlete
- Contacting athletes before their last collegiate game
- Offering something of value in return for a contract
- Creating unauthorized referral and fee sharing agreements
The surety guarantees payment for any administrative penalties and or damages awarded as a result of an agent’s unethical or unlawful business practices.
How Much Do Texas Athlete Agent Bonds Cost?
Your bond cost will depend on your financial credentials and the bond type:
- $50,000 athlete agent bond premiums start at $500.
- $100,000 athlete agent financial guarantee bond premiums start at $1,000.
Your exact premium will be calculated as a small percentage of the total bond amount based on financial risk. With excellent credit, you can expect to pay a rate of 1–3%.
Apply for your free bond quote now.
Save 25% on subsequent years by selecting a multi-year bond term.
How Do I Get an Athlete Agent Bond in Texas?
SuretyBonds.com provides the quickest and most affordable way to become a bonded athlete agent in Texas. Just follow these quick steps:
- Apply online
- Receive your free quote
- Checkout through our secure purchase portal
We’ll process and deliver your official bond documentation via email immediately after purchase. File it with the Texas Secretary of State along with your other license application materials.
Do I Need to Renew My Bond?
As a licensed Texas athlete agent, you must renew your surety bond annually to maintain active coverage. These bonds are continuous until cancelled, so all you need to do is pay your renewal invoice when prompted by your SuretyBonds.com account manager.
You must maintain a Texas athlete agent bond for at least two years after you stop providing services or the date your certificate of registration expires, whichever is later.
How to Become a Registered Athlete Agent in Texas
To become a registered athlete agent in Texas, you must first determine if you want to be registered as a professional athlete or limited athlete agent.
- Professional athlete agents must be certified by at least one national professional sports association.
- Limited agents can only represent an athlete in a sport that does not have a national professional sports association that certifies or licenses agents, such as golf or tennis.
Then, complete the following license application steps:
- Purchase a $100,000 athlete agent financial services surety bond (Form 2502) OR affidavit (Form 2503)
- Purchase a $50,000 athlete agent surety bond (Form 2504)
- Complete a separate supplement for each financially interested party (Form 2506)
- Complete the applicant contact sheet (Form 2507)
Submit these documents along with the signed application form and a $500 registration fee. On the application form, you’ll need to list information such as professional references, industry certifications and work experience. Once complete, mail your packet to the following address:
Registrations Unit
P.O. Box 13193
Austin, TX 78711-3193
Alternatively, you can hand deliver your application to the Texas SOS at the location below:
James Earl Rudder Office Building
1019 Brazos
Austin, Texas 78701
Once approved, the SOS will issue your certificate of registration. Texas athlete agent registrations remain valid for one year from the issuance date.
