Covington’s long history of league-level work means that we tend not to serve as a sports player agent. But we certainly know the player side of the sports equation. Lawyers in Covington’s employee benefits and executive compensation practice handle a wide range of matters for the major sports leagues and their individual teams. Reflecting the breadth of our technical expertise and our understanding of the unique issues facing these clients, we regularly work with leagues and team executives on significant issues affecting players, coaches, game officials and other employees.
Representative Matters
Our sports-related employee benefits work is a varied as the leagues and teams that engage us. For example, we have:
- Worked extensively with league and team executives to help ensure that player and executive contracts comply with the complicated tax rules governing deferred compensation.
- Helped teams structure individual contracts for players, coaches, and executives to maximize tax benefits and to provide appropriate performance incentives.
- Designed and drafted a variety of retirement, health, and fringe benefit plans covering league executives and other league employees.
- Counseled leagues on appropriate investments for retirement plan assets.
- Advised league officials on various compensation and benefit proposals during collective bargaining between leagues and their players’ unions or game officials’ unions.
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