Does the History Channel's show "Pawn Stars" have relevance for those in the sports agent business?

The History Channel currently airs a show called "Pawn Stars." The show takes place in a Las Vegas pawn shop. Each episode features the owners of the pawn shop having to make decisions on whether to offer money to the customer who usually has some historical item to sell or pawn. The pawn shop owners must fully evaluate the merchandise they are being offered to see if it makes sense for them to invest in. If the owners believe they can make a profit from it, they then go on to negotiate the best deal possible.

You may ask how this is relevant to Sports Law and the agent business. The answer is simple. In the last show two statements quite relevant to the agent industry and the sports law field were made.

1. “You make an uninformed decision, you are going to lose money.”
2. “Before we negotiate anything, we have to know what we are dealing with.”

This is the time of year when many lawyers/agents are recruiting new clients who are eligible for the NFL draft in April. It is easy to identify the players who are going in the first few rounds, what is difficult is figuring if a player not going to the combine is worth recruiting. Remember, in many cases the agent is investing in the player by providing training expenses before the draft. It is real easy to end up with significant loses if the player does not pan out. So, just like the owners of the pawn shop say, "You make an uninformed decision, you are going to lose money. Any agent investing in a player had better use due diligence in evaluating the player’s potential, or he may end up with a "slapdick" to steal  a word from former head coach Brian Billick. The word "slapdick" was immortalized in John Feinstein's Next Man Up.

“Before we negotiate anything, we have to know what we are dealing with.”  This is a no brainer to anyone in the Sports Law field. If you are representing a draft choice, you have significant help from the NFLPA in terms of past salary data and draft choice slotting. But you may have a potentially valuable undrafted free agent who may be in high demand following the draft. Here the agent had better know what he is dealing with and if there is a high demand for the players service’s. The agent has to consider if this is the best deal possible along with the best place for the player to have a chance to make the team.

So, if you have a chance to watch "Pawn Stars" on the History Channel, don't just think about the items being sold, think about the relevance it has to your field of endeavor in the sports industry.