Drew Rosenhaus Is the Gordon Gekko of Sports Agents

Categories: Luke's Gospel
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Uncle Luke, the man whose booty-shaking madness once made the U.S. Supreme Court stand up for free speech, gets as nasty as he wants to be for Miami New Times. This week, Luke expresses his anger at the guy who inspired Jerry Maguire.

So-called sports superagent Drew Rosenhaus has made millions of dollars exploiting African-American professional football players, so you'd think he would give his clients some pretty decent financial advice.

But you'd be wrong.

In the February issue of GQ, celebrity wide receiver Terrell Owens claims Rosenhaus recommended a lawyer and an investment firm that lost him millions of dollars. The lawyer, whom T.O. has sued, allegedly pushed him to invest $2 million on an ill-fated Alabama casino entertainment complex that landed the developer and an Alabama legislator in jail on bribery charges. Plus T.O. violated the NFL's policy prohibiting players from investing in gambling.

T.O. blames his agent. I'm not surprised. Rosenhaus, a University of Miami alum and North Miami native, burned Owens in 2005 when the wide receiver was booted off the Philadelphia Eagles. During a news conference, a Philly reporter accurately pointed out, "Drew, what have you done for T.O. -- other than get him kicked off the team?"

The outspoken wide receiver wasn't the only Rosenhaus client to get suckered in the Alabama deal. Former University of Miami standouts Clinton Portis and Roscoe Parrish also lost millions of dollars thanks to Drew's financial references.

Rosenhaus is the Gordon Gekko of the NFL, preaching a greed-is-good philosophy to the players he represents. The man who inspired Tom Cruise's Jerry Maguire character recklessly offers young black men the world. He'll throw a kid $50,000 just to sign with him and promise a house on Star Island. Instead of teaching his clients how to be responsible with their money, Rosenhaus shows them that football is all about living large. He sells only the glitz and glamour.

Rosenhaus has accumulated a net worth of $65 million by hustling football players from South Florida and those who attended the University of Miami. With a clientele that is 99 percent African-American, Rosenhaus has made it a habit to prey on poor families from the inner city. Heck, Miami Northwestern, Miami Jackson, Miami Central, and all the other local high school football powerhouses might as well find him a locker for all the time he has spent wooing former student athletes from those schools. Right now, he's signed Northwestern alums Sean Spence, Marcus Fortson and Jacory Harris.

Yet he has never donated a dime to the youth programs in Overtown or Liberty City. He has never bought a helmet or a single book for the kids who could eventually end up on his client roster.

I'm sick and tired of Rosenhaus getting rich off the African-American community. He needs to give back. He can start by teaching football players from an early age about fiscal responsibility and saving for a rainy day, as well as raising money for the youth program and the alumni associations of inner city high schools.

Or Rosenhaus may just find himself locked out of getting any more players from Miami-Dade County.

Follow Luke on Twitter @unclelukereal1.

Follow Miami New Times on Facebook and Twitter @MiamiNewTimes.
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21 comments
Lcoley 3
Lcoley 3

Man, that is the truth. It's about time. Someone said something. I am with you Luke

Jackmahogoff
Jackmahogoff

Is it a problem when he refers his clients who have been arrested to his brother-in-law?

Aprilbeautyqueen
Aprilbeautyqueen

While I partly agree, I think it is also the players fault for allowing Drew to talk them into what lawyers to use and what investments to make.  Hell he just invests their money with his friends and family and as a result they make tons of money off the player while the player is running around blowing his allowance on dumb sh*t like fancy cars, trips, girls and other items that will eventually have little to no value.  In addition when black entrepreneurs or businesses approach these players with investment opportunity or ask them to donate to a nonprofit program benefiting the youth, the dumb a*s players rely on and look to Rosenhaus (or another agent) for advice instead or they treat you like you're trying to get over on them or want to use them (i.e. Warren Sapp).  But let their agent or white boy call up saying hey man you should do this, they jump through hoops.  If Drew says so, then I should do it (camera whores).  As if he (Rosenhaus), or any other agent of his kind, is going to channel his great grandchildrens' inheritance back into the black neighborhood to enable them to become self sufficient and build-yeah right.  So on one hand I agree that he's a thief that preys on blacks but what's new - it's been going on for many years prior to him.  At what point are WE going to wake up and handle our own finances, do right by each other, and become INDEPENDENT and build our own.  Hell every other race does it so there is absolutely no reason why we can't, but on the other hand some of us just can't shake the thought of being FREE :(

Luke you've been a mentor and advisor to many of these players over the years but watch the "slave" mentality if you try to sign them up to an agency owned and operated by one that looks like them.

leslie
leslie

He is not responsible for their spending but he should give back.

Charles
Charles

Uncle Luke...the ripping off of African-Americans dates back to slavery.  There is no more cotton for us to pick because of Mexican labor and machines do the work.  However, we can play football and basketbsll.   Your message is well taken but I think you are dreaming to expect whites to teach blacks good investment and money-management skills.  WE MUST DO FOR OURSELVES...EACH ONE TEACH ONE!

Eva
Eva

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Ryan Collins
Ryan Collins

I'd like to meet the 5th grader that actually writes these articles for Grandpa Luke one day.

Speakonitwithtre
Speakonitwithtre

So luke is upset because "I'm sick and tired of Rosenhaus getting rich off the African-American community." Didnt he  (Campbell) do that with his CD sales, Peep Show vids, and other stuff? Hello Pot, my name is Kettle.

305ER
305ER

Drew is an agent not a finacial advisor. Some of these players blow their cash on B.S. then need someone to point at but Luke makes a great point about giving back to the inner city that has given him so much to him. If this is true Drew shame on you.

Nastywannabee
Nastywannabee

Didn't Luke get implicated in the UM football scandals?

LukesAsRacistAsHeWantsToBe
LukesAsRacistAsHeWantsToBe

"Or Rosenhaus may just find himself locked out of getting any more players from Miami-Dade County."

lol  lol  bwahahaha  Now that was funny!As Chad Johnson would say,  "child please!"

Loki Pan
Loki Pan

These kids went to college - do they not take finance classes? I got an idea lil luke, why don't you be an agent for them? I am sure they would find them selves in the same place.

Onaroll
Onaroll

WRONG on responsibility, on the contrary he is responsible when he refers his buddies as investment counselors or as their agent he recommends investments.  it's the same way when you hire a lawyer you hire them and pay them to advise you accordingly and advise you of what is in your best interest.  It's a old word called ETHICS

Onaroll
Onaroll

Yes Sir.  Too bad some of us don't want to listen however when one does attempt to teach-we checking each other out sideways, backways, etc.

Accomadus
Accomadus

Luke gives more time and money than ANYONE to the community. If there's anyone that can point fingers, it's Uncle Luke. The point is, what has Drew done for the communities that have enriched him, other than break them? 

Onaroll
Onaroll

research and facts when posting.  Record sales and fan base for Luke is oversees and Caucasian's.  very small percentage of African Americans

Onaroll
Onaroll

you are correct, Drew is not a financial advisor however as their agent his role is to suggest/recommend and put people in place to make decisions and handle money for the players who are signed to him.  do you not think that he's not recommending close friends, if not relatives.............

Onaroll
Onaroll

obviously you don't research and/or read to well.  research facts before choosing to comment. duh

Lcoley 3
Lcoley 3

Ok, that is the point. You trust your agent. That's his job.Maybe you should think before you open your mouth.

Aprilbeautyqueen
Aprilbeautyqueen

while one would think that they take those classes in school, it's clear that you are a novice to how the football programs at colleges work in regards to the students gaining an education.  they're not recruiting them because they intend for them to become educated, they're recruited to make money for the program and school.....they encourage them to take simplified courses to ensure passing

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