Having faced criticism over the last week due to its newly-announced regulations for agents who represent prospects testing the draft waters, the NCAA has amended those requirements, according to a press release.
According to the NCAA, a prospect exploring his draft options can now be represented by an agent without a bachelor’s degree — the agent simply must be certified and in good standing with the National Basketball Players Association.
The NCAA’s announcement comes just hours after NBA super-agent Rich Paul published an op-ed in The Athletic explaining why he opposed what had become colloquially known as the “Rich Paul Rule.” Paul, who doesn’t have a bachelor’s degree, said in his Athletic column that the new requirements would have had “no impact” on him or Klutch Sports but that the “harmful consequences of [the] decision [would] ricochet onto others who are trying to break in.”
Paul wrote that he’s not opposed to the idea that would-be agents should have three years of experience before representing an NCAA player who is testing the draft market, and he doesn’t think it’s a bad idea to have agents pass an exam. However, he’s against the idea of requiring a four-year degree, since that’s not financially feasible for everyone with aspirations of breaking into athlete representation.
According to the NCAA’s new announcement, players testing the draft waters can be represented by agents who meet all of the following criteria:
- Have a bachelor’s degree and/or are currently certified and in good standing with the NBPA.
- Have NBPA certification for a minimum of three consecutive years.
- Maintain professional liability insurance.
- Complete the NCAA qualification exam.
- Pay the required fees.