FTC asks 20 Division I universities about agents' compliance with sports-agent law.

The Federal Trade Commission sent letters to 20 Division I universities requesting records by March 23 to assess compliance with the Sports Agent Responsibility and Trust Act, with requested information dating to July 1, 2021.

The Federal Trade Commission sent letters Monday to 20 universities with Division I sports programs asking for information about sports agents. The agency set a March 23 deadline for responses. The inquiry relates to compliance with the federal Sports Agent Responsibility and Trust Act of 2004. The FTC did not name which schools received letters. Requested information: - Records dating to July 1, 2021, coinciding with when athletes were allowed to profit from name, image and likeness rules. - Dates when athletes entered into agency contracts and when schools were notified by agents of those deals. - Any complaints about an agent and copies of agency contracts with athletes' personal information redacted. - A statement from Christopher Mufarrige, director of the FTC's Bureau of Consumer Protection, says the inquiry is aimed at understanding whether sports agents are complying with the law and the degree to which student athletes are being protected. - The Sports Agent Responsibility and Trust Act bars agents from recruiting athletes by providing false or misleading information or providing anything of value before entering a contract; a similar Uniform Athlete Agent Act exists in at least 40 states, and prosecutions under these laws are not frequently pursued. Summary: The FTC's letters seek records to assess whether sports agents are following federal rules and to evaluate protections for student athletes. Responses are due March 23. Further agency action after the review has not been announced. Undetermined at this time.