Most of this year’s NFL draft picks have already signed their contracts. But none of the Rams’ picks have.
That’s because the Rams’ policy is to give each player financial counseling before anyone signs a contract.
In each of the last two years, the Rams have signed all their picks en masse, after gathering the rookie class together and giving the players a course on financial management. Players are instructed on what the team calls “Financial Planning 101,” with information about how to invest and how not to go broke.
The Rams’ rookies will get signing bonuses of anywhere from $70,000 for seventh-round pick Martin Ifedi, all the way up to more than $8 million for first-round pick Todd Gurley. The Rams want to give those players the money they need to use that money wisely.
The Collective Bargaining Agreement agreed upon in 2011 makes rookie contracts so straightforward that there’s little to negotiate, and little reason not to sign immediately. Except for the reason the Rams have found: Making sure players have some information about how to invest their money before they receive it.