Peter Herbert, who chairs the Society of Black Lawyers, said talks about the formation of an organisation - which has a working title of the Black Players' Association - are at a preliminary stage.
It comes after a week in which England Under-21 players were allegedly racially abused in Serbia while a number of players - notably Reading striker Jason Roberts and Manchester United defender Rio Ferdinand - refused to wear Kick It Out T-shirts at the weekend.
Herbert told Radio Five Live: "I think we have reached a watershed.
"The Society of Black Lawyers have been looking at the situation and held informal talks with a few black players.
"What we needed essentially was for black players themselves to take the initiative which they now appear to have done and form a progressive black footballers' association which can properly represent their interests and speak on their behalf whenever there is a legal issue - they suffered abuse in Serbia, they suffer abuse in the UK.
"Or there is the more mundane discrimination type of matters which give rise to concern every day of the week for the majority of our community.
"That is what we are assisting with. We are in discussions, things are at a preliminary stage."
Herbert added on the BBC: "I think there comes a point in any community's life or experience where enough is enough.
"People appear to have decided they have to do something more vigorously.
"They are facing systematic racism and there is gross under-representation at managerial level of black players as coaches and managers."