One issue has plagued our great sport since the inception of professional tennis: Most of the best young athletes migrate to basketball, football, baseball and soccer, simply because guardians can not afford to hire the best coaches for their gifted child, while every coach needs to be fairly compensated for the services they provide. What is the answer?! GTP’s proprietary ‘deferred compensation’ program.
• With available funds in place, GTP’s contracts are easy to use and clearly understood by all parties involved.
• When affordability is a concern, deferred compensation is the answer. With these contracts, an athlete will receive premium coaching today and compensate their provider later.
• In either case:
– you compensate each provider for ONLY the service(s) they have rendered.
– you no longer need to trust ambiguous or unenforceable verbal agreements.
– you negotiate compensation directly with each provider, based on a fair market value of their location and experience.
ALL SERVICE PROVIDERS - 'MY COLLECTIVE' BECOMES YOUR SWEAT EQUITY RETIREMENT PLAN
With GTP’s deferred compensation contracts, all that time and expense you invest into promising players, can now pay off. Whether training with this protege is infrequent or extensive, so many providers tell the same story: “I brought this athlete from obscurity to competitive, thinking the pro-bono investment would pay off one day, but when the athlete started winning, the coaches and sponsors come out of the woodwork and there went my protege!” Net result …100% loss of time, effort and money. A few of these string together, and another provider faces bankruptcy. GTP makes this sad, repeated scenario impossible.
• Through amateur status contracts, providers receive a 5 year repayment plan by guardians at 3.5% per quarter, beginning 1 year from the completion of the contract. At the conclusion of the fifth year, a one time balloon payment will be due to satisfy the remaining balance. Any guardian that makes timely payments, qualifies for a payment plan extension, if needed. A 4% interest rate per year applies, with no prepayment penalties. GTP earns a small fee of the principal.
• Through engagement or engagement+ contracts, providers receive repayment based on 15% of future earnings of the athlete (prior to taxes and withholdings), strictly for services they have rendered. None of our contracts last forever. For example, if a provider is due $1000 of deferred compensation, and that athlete won $5,000 (USD) in a tournament, that athlete is only required to pay back $750 of their debt to GTP (leaving an outstanding balance owed of $250). On the other hand, if that athlete won $50,000 (USD), they are required to pay back the full $1000 owed. Either amount (less GTP’s small fee), will then be transferred to the provider.
• Through your GTP membership, every provider will be fairly compensated for the services you’ve rendered!
• Unless contractual compensation is immediate, athletes will pay deferred compensate to a provider, based on 15% of future tournament winnings (prior to taxes and withholdings) for services rendered ONLY.
• Amateur status contracts allow a guardian to begin a repayment plan for the services a provider rendered, 1 year from the conclusion of the contract’s completion.
• Deferred compensation is negotiable, so each provider can now sign contracts, based on their actual fair market value, of services rendered.
• Providers are now free to “invest” in the future of a promising athlete, while being properly recognized for their contributions.
• Agents can also use our “Agent Initiated Contracts” to be compensated under the same umbrella.
Through GTP, our members can now network with other members of the Global Tennis Community
GTP EXCLUSIVE; ENFORCEABLE, ON-THE-FLY CONTRACTS
We maintain 5 digitally automated contracts, available directly from any member’s profile page:
1 – Amateur status contracts; between providers and guardians of amateurs.
2 – Minor engagement contracts; between providers and guardians of minor professional athletes.
3 – Engagement contracts; between athletes and providers only.
4 – Engagement+ contracts; between athletes in the top 650 singles or top 200 doubles and providers.
5 – Agent initiated contracts; any GTP contract (except amateur) that is initiated by an agent.
The use of these exclusive contracts will dramatically transform the way you do business, because they:
• are easy to use, with on-the-fly proprietary software that auto-populates most of your information.
• automatically translate into English, Spanish or French, with our English version being the default setting.
• offer clearly outlined services to be rendered by any specific provider.
• offer clearly defined repayment requirements by an athlete or guardian through deferred compensation.
• allow athletes and guardians cooperative access to any number of providers, rendering the old, exclusive agreements obsolete.