What is Scott Boras' Net Worth, Commission, and Salary?
Scott Boras is an American sports agent renowned for his exceptional financial acumen, boasting a net worth of $450 million. As the founder of The Boras Corporation, he has redefined the sports agency industry, primarily focusing on baseball players. Scott's portfolio includes over 175 high-profile clients, making him one of the most influential figures in sports.
Prominent clients he has represented include Stephen Strasburg, Gerrit Cole, Anthony Rendon, Alex Rodriguez, Matt Holliday, Manny Ramirez, and Jayson Werth. To date, Boras has negotiated contracts exceeding $2.5 billion, generating around $100 million annually in commissions from these deals.
Early Life
Scott Boras was born on November 2, 1952, in Sacramento, California. Raised on a dairy farm, he attended the University of the Pacific, where he excelled in baseball. He achieved a remarkable batting average of .312 in 1972 and was later inducted into the university's Hall of Fame. Despite a promising minor league baseball career, knee injuries curtailed his journey as a player.
Boras transitioned to law, earning a Juris Doctor degree from McGeorge School of Law in 1982. His legal expertise initially led him to defend major pharmaceutical companies but eventually paved the way for his career as a sports agent.
Career as a Sports Agent
Scott Boras began representing athletes even before completing his law degree. He kickstarted his career by representing Mike Fischlin of the Cleveland Indians and Bill Caudill of the Seattle Mariners. By 1983, he had negotiated a significant $7.5 million contract for Caudill. As the head of The Boras Corporation, he continued to secure record-breaking deals, making him a household name in the world of sports.
Throughout the 80s and 90s, Boras consistently negotiated lucrative contracts for his clients. Noteworthy deals included a $1.2 million contract for high school pitcher Todd Van Poppel in 1990 and a $1.5 million signing bonus for Brien Taylor in 1991. He also secured a groundbreaking $28 million contract for Greg Maddux in 1992.
Boras is known for exploiting MLB loopholes to benefit his clients. In 1996, he managed to remove Matt White and Bobby Seay from the draft process, securing more valuable contracts for them. The MLB subsequently changed its rules in response. Similarly, in 1997, he used another provision to help J.D. Drew re-enter the draft and sign a lucrative contract with the Cardinals.
Boras set new benchmarks by negotiating a $252 million contract for Alex Rodriguez and, more recently, a $330 million contract for Bryce Harper and a $324 million deal for Gerrit Cole in 2019.
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Subsidiary Companies
The Boras Corporation has several subsidiary companies contributing to its income, including Boras Marketing and the Boras Training Institute. Scott Boras employs highly qualified professionals such as an MIT-trained economist, an investment team, and sports psychologists. The corporation also sends scouts worldwide to discover emerging talent.
Criticism
Scott Boras has faced significant criticism throughout his career. His focus on maximizing his clients' earnings often conflicts with the perceived morals of baseball and the interests of various teams. Fans and officials frequently criticize him for prioritizing money over the sport's integrity.
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Scott Boras Salary/Commission
Scott Boras earns a 5% commission on all contracts he negotiates. For example, between September 2017 and September 2018, he negotiated $1.88 billion in contracts, earning $105 million in commission.
In December 2019, Scott negotiated several high-profile deals in one week:
- $245 million for Stephen Strasburg (from the Nationals)
- $324 million for Gerrit Cole (from the Yankees)
- $245 million for Anthony Rendon (from the Angels)
These deals alone resulted in a combined $40.7 million commission for Boras, highlighting his extraordinary earning potential.
