One of the bigger stories of the week that has got lost in the shuffle is what transpired in the annual agents meeting here in Indianapolis. While many of the agents are concerned about how their players will perform in the workouts for NFL teams, they have a potentially bigger and more costly issue to deal with.
During the lengthy meeting on Friday, the topic of dropping the agents' fee from three to two percent was discussed. Essentially, that's a 33 percent drop if that goes through next month in a NFLPA meeting in Hawaii. If it happens, that change could have huge ramifications for the future.
"What would happen is you would see the end of the smaller agencies. In effect, unless you have a pretty stable clientele, you may have to close up shop," one veteran agent said Friday.
The drop in fees has been discussed in past meetings but it came to a head this week. Toward the end off the meeting, veteran agents Leigh Steinberg, Drew Rosenhaus, and others let the NFLPA know how destructive a drop in fees would be.
"It was good to see them stick up for the rest of us. We all stand to lose a lot of cash if the fee gets dropped," another veteran agent said.
Another potential problem is that you'll see agents only try to sign players who they know that will be first day picks. The key to making money is getting the player to sign a second contract. If the player gets cut or doesn't find another team to sign with, the agents might not break even on the money they invested the player in from the beginning.
"Many of us won't be able to afford what it takes to sign the lesser player if he can't get a second deal. Sure, we would all like to get first-day picks, but many of us aren't all that lucky," an agent said who is in the third year of his business.
This situation certainly bears watching and is one that many should be concerned about.
Agents Could Lose Big Time
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