What time is it? It is that special time of year when many college football players hoping to make it big in the NFL are looking for that trustworthy agent. Let me tell you why these athletes had better do their homework.
There are many agents out there that will simply tell these young men what they want to hear, not what they need to know. And, unfortunately, there are many athletes who don’t know which questions to ask and/or answers they need before making a commitment. Many agents will tell a young athlete that he is the MAN and that he has made it BIG. . . REAL BIG. And, as a result, they cater to him by giving him inducements before the draft to obtain his signature. These inducements are normally money, women at the clubs, material gifts and the like. It reminds me of the kid in the candy store. If you ask the kid what he wants in the store, he will say all the candy. He will then take all the candy which has been bought for him and feel very content on a short term basis.
However, on a long term basis, the athlete will end up with rotten teeth – if he then has any teeth at all. THE PROBLEM: young people, more often than not, don’t know what they don’t know. According to good research, approximately 80% of all NFL players will be broke, unemployed, and/or bankrupt within two years of their careers, regardless of where they went in the draft, how much money they made during their careers, and whether or not the country is in a recession. This percentage is over 90% if that NFL player is an African American. Of course, most athletes will say that “such a tragic event” will never happen to me . . . but that is what everyone says.
The answer to choosing the best agent for you is simply more than getting a great contract, even though that is very important. So, what is missing? Today, a lifetime mentor as an agent is absolutely a must to be successful. Being a lifetime mentor is my primary role as an agent. That does not mean I have become a new daddy. Two of my three children are grown; I have a teenaged son still living at home. What it means is that I try to teach my clients by example and by advising them with words of wisdom with respect to decisions and life situations.
Wisdom comes from a learned experience and an understanding which, in turn, comes from actual knowledge obtained and then applied. Football is the vehicle, but life is the real game. Knowing the sports business industry, understanding NFL contracts, and being skilled as a top negotiator are important, but being a life time mentor is critical. Yet, one cannot be a successful life time mentor of another if he is not successful in his own life.
Five questions can help determine if an agent will be a great life time mentor for you
1. What questions outside of sports should the athlete ask the agent when it comes to selecting him also as a life time mentor?
2. For one, ask him more than questions but also see how this person you are now considering lives?
3. Is he married? If so, how long has he been married?
4. Does he have any children? If so, does he raise them?
5. How do his children feel about him? Meet and interview the children one on one and face to face. How successful are these children? (The apple usually does not fall that far from the tree).
The answers to these questions will tell you something more about this person. It will help you reveal his real character. What about his finances? If he cannot control his own money, how is he going to be a good example for you to help you with your money? Big money does not always mean financial stability. There is a big difference between income and net worth. If the roles were reversed (i.e. if the agent had a son who became a great college player and the athlete later became an agent after his playing days were over), would the agent’s son as a top athlete do business with the athlete as an agent or for that matter give him an interview?
These are just a few of the questions that should be asked by the young football player and/or his parents or, at the very least, the answers to these questions should be discovered before a commitment is made. The difference has a lot to do with a lot of talk compared to the real character of a man. Many people in the agent game are smooth talkers, but talk is just that – talk. You see, the agent business is much like a magic show. When the magician sawed the lady in the coffin in half, the audience originally thought that the magician had killed the lady until she later stood up for a bow. The young athlete can be fooled just like the audience was at the magic show, but in the agent business, unlike the magic show, the damage can be severe and may be irreparable.
Logic usually has nothing to do with it
The agent business is rarely a logical business. That is, one where a college athlete chooses an agent based on his “real history” as a competent contract negotiator and character as a person. The college athlete often hears the “his-story” pinch from agents, which is filled with false misrepresentations and half truths. He many times signs with the agent who has offered him the most . . . at least that’s what he thinks. In the agent business today, there are “entourage” hookups, the undercutting of fees, undisclosed “under the table” payments to third parties, nasty false rumors . . . you name it. Agents are agents, but like cars, they are not all the same. You get what you pay for. You may pay more for a BMW than most other cars, but, in the short and long run, it is probably worth it. And, lastly, the ugly girl may have called you the most, but that might not be the one you want to marry. Even the President of the United States does his homework and research on potential advisors. And, once the President chooses his advisors, he takes heed to their good advice. Enjoy the holiday season.
