Not chiming in to take sides, but I do note a lot of virtue signaling in the replies/Quote RTs and felt compelled to add my 2 cents. I provide legal services for athletes, agents, brands, and #NIL collectives. So, I see a lot. Some of my agent clients in the NIL space charge nothing. Others charge 3%, 5%, 10%, 15%, and yes some charge 20%. 20% is very standard as an agent commission on traditional marketing/endorsement deals like a shoe/apparel deal as an example. Many NIL collective contracts and now school “revenue-share agreements” are lengthier and more complex than brand agreements. But traditional marketing agents have mainly justified commissions upward of 20% because they spend so much time with such few assurances that they will even procure deals and, if they do, that the deals will be worth the squeeze. With the capital flowing in “NIL,” the feeling is that money is being handed to agents on a silver platter and they shouldn’t charge more than 5% (or 3% because that’s what the NFLPA caps fees at on team contract negotiations). That feeling is often justified and I have no intention to change minds. But it’s easy to criticize people or an entire industry when you’re on the outside looking in. To be clear, I’m only charging an hourly rate or a flat fee to review and negotiate contracts, often providing a supplementary service for agents who want someone with experience to best ensure the deal terms are fair. I’ve seen some agents charge 20% on collective deals who have vigorously negotiated with those collectives to increase the collectives’ initial offers to athletes by over 10x before the ink was dry. In those cases, paying out 20% is a bargain. I know this is X, so we are all supposed to rush to judgment and make generalizations and throw mud at people. Do all NIL agents charge 20%? Absolutely not. And most probably shouldn’t. In fact, some of the “agents” I come across shouldn’t even be in the biz. But some do a damn good job and just because you may not think they deserve a certain amount of compensation doesn’t mean the clients they serve and charge that commission to aren’t happy as heck for the jobs they have performed. Finally, if you want regulation in this space, then you should be shouting for athlete employment and unionization, with the union licensing and regulating the agent profession. Until then, get used to no rules.