Matt Elam Saves $200k
Interesting post on PFT
, Ravens rookie Matt Elam has decided not to sign with an agent for his rookie contract. Smart move, I'm surprised more players don't do this. As the PFT article states, under the new CBA rookie contracts are pretty well slotted. I'm sure there are some gotchas that teams can slip into the deal but for the most part a player knows how much they're going to make as soon as they're drafted.
Of course very few of us have the ability to read and comprehend the legalese of an NFL contract and I'm sure that's what scares a lot of players into having an agent but there is a viable and much more cost effective option, just hire a lawyer. A lawyer specializing in contract law will be just as useful in this situation as an agent and can be paid by the hour instead of a percentage of the contract. As the PFT article and my headline state, Elam would be paying an agent $200k to 'negotiate' a slotted deal. You can pay for a whole lot of hours for $200k, even at lawyer's rates.
There are other things that an agent does for a player (at least that's what agents claim) but that stuff can wait. He could very well go out and sign with an agent the day after signing his rookie deal with the understanding that the agent will only get a percentage of new business.