GTP Engagement+ Contracts
Whether you are a Coach, Athlete, Guardian, Trainer, Academy, Agent or Minor Athlete we thank you for taking the interest in protecting your value. By becoming a GTP Certified Member of the Association, you will be playing a role in bringing uniformity and standard ethical practices to our tennis community.
The following is an overview of Engagement + Contracts and how they work. This is not to supplement or serve as formal documentation for regulations concerning our Association’s Operating Agreement. This Operating Agreement is our governing authority, which you must agree to comply with, and fully understand in order to proceed. The following is merely to help you understand Engagement + Contracts and how the Association will govern their enforcement. If you have any questions, please do not hesitate to reach out to GTP at any time.
Engagement + Contracts have been created 1) For ATP/WTA Players CURRENTLY or WITHIN the last two years ranked inside the top 150 for Singles or ranked inside the Top 50 for doubles and Certified Coaches, Trainer and Academies or 2) For an Athlete who has successfully applied to execute said Contracts via the Engagement+ Application with their Certified Coach, Trainer or Academy. No more negotiating bonuses and or exclusivity. Coaches put “your money where your mouth is,” and negotiate with an Athlete for your true value. You will be compensated for the services you provide based on the performance of the Athlete over their Career, regardless if you have discontinued your relationship, Athlete becomes injured or decides to take time off. Athlete, only compensate your Coach for the services they have provided you. No Coach, Trainer or Academy is entitled to more compensation than the services he or she provides. No Athlete is allowed to not compensate a Coach for their market value whether that be today or in the future. In order to execute and utilize Engagement + Contracts, their accountability protections as well as privileges, you must first be Certified as an Athlete and or Coach, Trainer or Academy within GTPs Association. In order to be Certified, you must:
CERTIFICATION AND APPLICATION:
1) Review, and have your counsel of choice review the Operating Agreement governing the Association of Ethical Coaches and Players.
2) Fully understand the rules and regulations governing the Operating Agreement, and agree to submit and comply with standards set in the Operating Agreement by the Association.
3) Fully complete an Application for either a Coach and or Guardian and submit to GTP for approval. Please be advised that you will be allowing GTP to conduct a Level 1 background check.
4) Submit a $130 Application Fee, as well as a $100 Annual Renewal Membership Fee, required to be Certified to, and maintain Membership within the Association.
5) Upon GTP’s review of your Application, and Certification, two Certified Members may begin to execute Engagement+ Contracts with one another.
6) You must be at least 18 years of age or older to be Certified as an Athlete. If under 18 years of age you must be Certified as a Minor Athlete.
1) All Engagement+ Contracts can be converted to a Certified Athlete and Certified Coaches’, Trainers’ or Academies’ native language for a fee, however the English version will prevail if any discrepancies arise.
2) Engagement+ Contracts are universally standard. The only portions of the contract that alter is the negotiated amounts of deferred compensation between a Certified Coach and Athlete.
3) Engagement+ Contracts have no ceiling except that an Athlete may not accrue more than $175,000 of total deferred compensation.
4) A Coach will be compensated on 15% of an Athletes winnings as well as 10% of marketing endorsements for the services they have provided.
5) An Engagement+ Contract is not protected under the Association until GTP approves each Contract and ensures it complies to all required standards.
6) Once acknowledged, accepted and approved by GTP, a Certified Athlete and Certified Coach, Trainer or Academy may get to work.
7) No Certified Athlete may have active Engagement+ Contracts with more than 1 Certified Coach at any time. No Certified Coach, Trainer or Academy may have active Engagement+ Contracts with more than 1 Certified Athlete at any time.
COACHES COLLECTIVE AND DEFERRED COMPENSATION:
1) All deferred compensation accrued by an Athlete is added to their Coaches Collective (or total amount of deferred compensation owed to Coaches for services provided). GTP will hold all deferred compensation on behalf of the Certified Coaches to collect from the Certified Athlete.
2) Held deferred compensation accrues a 4% interest rate per year until paid in full.
3) An Athlete is required at the end of the previous month to make payments to GTP on 15% of any Tournament Winnings (prior to taxes and withholdings) and on 10% of any marketing or endorsement deal executed during the term of the contract to pay off the Coaches Collective they have accumulated. For example, if an Athlete played in one Futures Tournament and earned $100, that Athlete is required to pay GTP 15% or $15 towards any outstanding Coaches Collective. Additionally, if an Athlete signed an endorsement deal for $200 per month with any company, Athlete is required to pay $30 towards any outstanding Collective.
4) Coaches will be paid on a pro-rata basis based on their percentage of contribution to the Coaches Collective. For example, if Coach A is owed $1000 and Coach B is owed $2000, then on a $15 payment by an Athlete, Coach A will receive 1/3 while Coach B will receive 2/3 of disbursements per the Operating Agreement less the collection fees owed to GTP.
5) In the event an Athlete is unable to repay their deferred compensation and some Collective remains at an Athletes retirement (2 consecutive calendar years of not playing at least 8 ATP/WTA or ITF tournaments), the remaining deferred compensation is forgiven. This ensures that Coaches are putting their best foot forward while simultaneously protecting their value in the event an Athlete achieves.
EXCLUSIVITY, DEFAULT, BREACHES AND TERMINATION:
1) No Engagement+ Contract has any form of exclusivity. Since a Coach is guaranteed compensation for his or her services at fair market value over an Athletes career, exclusivity is no longer required.
2) An Athlete may terminate a Contract without fear of tarnishing their reputation at any time with a Coach, Trainer or Academy in case a Provider is not living up to expectations.
3) In the event a Coach, Trainer, Academy or Athlete does not live up to agreed upon terms because of either a breach of contract or default, Global Tennis Professionals will serve as a non-biased third party and ensure that accountability occurs for everyone involved.
4) If a Coach, Trainer or Academy and an Athlete for example have base pay of $50,000 and deferred compensation of an additional $25,000 per year, in the event an Athlete terminates a Coach at six months, the total amount of deferred compensation that will be owed to a Coach is $12,500 regardless of who that Athlete works with next.