Scott Boras Net Worth: How Rich is The Sports Tycoon?
Scott Boras is an American sports agent who has amassed fortunes totaling over 450 million dollars. Scott has made this much money through his agency, The Boras Corporation, which was founded in 1980. The corporation has been a sports agency for several notable baseball players, including Matt Holliday, Alex Rodriguez, Stephen Strasburg, and Gerrit Cole, among many others.
His Career as a Sports Agent
Scott Boras had a significant interest in sports when he was in college, and along the way, he realized his calling was to act as a sports agent for athletes. In college, he pursued education in law and this was enough for him to start representing various athletes. His first two clients were Bill Caudill and Mike Fischlin, who he managed for a while. In the early 1980s, he chose to represent athletes playing baseball, and by 1983, he had made his mark as a sports agent in baseball. He negotiated a deal for Bill Caudill totaling 7.5 million dollars. Upon his early success, he created the Boras Corporation.
With Boras Corporation, Boras negotiated better deals for his athlete clientele. And as such, more athletes came into his fold. He gained a good reputation as a great negotiator who could make athletes earn more. Throughout the 1980s, Boras accrued several bonuses for his role as a sports agent for various athletes.
Additionally, Boras was able to negotiate deals for athletes coming fresh out of high school. For instance, in 1990, he negotiated a deal for Todd Van Poppel and earned some bonuses from it. The following year, he negotiated another deal and received a bonus of 1.5 million dollars.
Boras Utilized Loopholes in MLB to Create His Fortune
Scott Boras has always taken advantage of loopholes to make money for himself. In 1996, he used a loophole in the rules of MLB and removed two players from the draft process, and they ended up obtaining better contracts. A year later, he took advantage of a loophole whereby J.D. Drew left the MLB, joined a different club, and returned to the MLB at an inflated price.
Besides these loopholes, Scott Boras has broken several records. His first major deal was when he negotiated a 50 million contract for Greg Maddux before doubling this record a year later. Over the years, Scott has negotiated several ridiculous deals. For instance, he negotiated a 252 million contract before negotiating a 330 million contract in 2019.
Boras is an individual who knows how to reap the best results from any situation, and this has seen him grow his fortune tremendously. Scott has even negotiated ridiculous deals for athletes new to the game or who are aged.
Scott Boras’s Salary
Scott Boras takes a 5% commission for all the deals he negotiates for his clientele. Imagine that between September 2017 and September 2018, Boras negotiated deals of close to two billion dollars. His take-home commission was about 105 million dollars. He is an individual who has achieved a lot of success, taking advantage of various loopholes to make more money for himself.