What must agents who represent both players and clubs adhere to regarding their licensing?

Agents who represent both players and clubs must possess a valid FIBA license to operate legally within the framework of basketball governance. This requirement ensures that agents meet specific professional standards and adhere to FIBA regulations, which are designed to protect the interests of players, clubs, and the integrity of the sport.

Holding a valid FIBA license signifies that the agent is knowledgeable about international basketball rules, player contracts, and the obligations towards both players and clubs, which is crucial in maintaining ethical practices in representation. The licensing process also often involves background checks and the completion of relevant training, ensuring that agents are qualified to handle complex negotiations and the legal ramifications that come with representing both parties in a transaction.

In this context, the other options do not align with the regulations set by FIBA. Operating without a license, needing separate licenses, or being exempt from licensing requirements would undermine the structured and regulated nature of professional basketball. The validity of the FIBA license is essential for ensuring accountability and professionalism in the management of players and clubs.