Thank you Chairman Stearns for holding this legislative hearing this morning. And let me also take a moment to thank the sponsor of this bill, Mr. Bart Gordon, of Tennessee, for being concerned enough about our young collegiate athletes to pursue a legislative remedy. I know this has been a longstanding concern of his and I share the concern that young athletes are too often preyed upon by unscrupulous sports agents. 

With the amount of television exposure of college athletics, we sometimes forget that these young athletes are just that – young and often naïve, without the benefit of the wisdom and experience that comes with age. Unfortunately, a few of these so-called sports agents – vultures really – know this fact well, and will exploit it for their own personal gain with little regard for the athlete. Sign a young collegiate star who makes it big as a professional and the windfall to the agent is tremendous.   

Fortunately, we can set rules of fair play and set penalties for those who choose to break them.  I know that many states, including Louisiana, already have laws to address the conduct of sports agents. I am also aware that a uniform state law has been enacted by a number of states and is moving through several other state legislatures. So there has been some recognition at the state level that there is a problem and some attempts have been made to address it.   

The questions I have this morning relate to why current laws are insufficient. Is it a matter of states enforcing the laws they have? Or is the system only as strong as its weakest link?   Why have some states never enacted a law to address sports agents?  

Given that some states have yet to enact a law or move the uniform state act, it appears the state efforts will be a lengthy process.  It seems logical that the Federal government could play a role that would provide a remedy and deterrent where none currently exists.   

That being said, human nature is susceptible to greed and we cannot change the fact that some people will do anything for the lure of a quick dollar – or in the case of multimillion-dollar sports contracts, quite a few quick dollars.  For that reason alone, I think it will require tremendous effort and vigilance to minimize current abuses under any regulatory environment.  

I am very interested in hearing answers to my questions and look forward to a discussion of these issues.