A player is allowed to engage with:

The correct answer indicates that a player can officially engage with only one licensed agent at any given time. This regulation is in place to ensure that the player has a clear and committed representation during negotiations and dealings within professional basketball. Having a single licensed agent establishes a definitive relationship, which helps in maintaining focus and minimizing potential conflicts of interest that might arise if multiple agents were involved simultaneously.

Engaging with only one licensed agent provides clarity in the agent-client relationship, ensuring that the agent's actions and negotiations are specifically aligned with the player's best interests. It also helps in complying with FIBA's regulations, which are designed to protect the rights and welfare of players in the professional sporting environment.

Options that suggest engaging with multiple agents simultaneously or any agent without proper licensing contradict the principle of ensuring a smooth and organized representation process. Engaging with unlicensed agents could lead to legal complications or ineffective representation, while the option of working with a coach or manager, while possible in certain situations, does not specifically align with the agent-player relationship defined by FIBA regulations.