Sport related mild traumatic brain injury (mTBI), generally known as a concussion, is a worldwide critical public health concern nowadays. Despite growing concern emphasized by scientific research and recent media presentation regarding mTBI and its effect in athletics life, the management, and prevention of mTBI are still not properly done. The evaluation mainly hampered due to the lack of proper knowledge, subjective nature of assessment tools including the fact that the brain functional deficits after mTBI can be mild or hidden. As a result, development of an effective tool for proper management of these mild incidents is a subject of active research. In this paper, to examine the neural substrates following mTBI, an analysis based on electroencephalogram (EEG) from twenty control and twenty concussed athletes is presented. Preliminary results suggest that the concussed athletes have a significant increase in delta, theta and alpha power but a decrease in beta power. We also calculated the power for individual frequencies from 1 Hz to 40 Hz in order to find out the specific frequencies with the highest deficits. The significant deficiencies were found at 1–2 Hz of delta band, 6–7 Hz of theta band, 8–10 Hz of the alpha band, and 16–18 Hz and 24–29 Hz of the beta band. Though there was no significant difference as observed in gamma band, we found the deficit was significant at 34–36 Hz range within the gamma band. The observed deficits at various frequencies demonstrate that even if there is no significant difference in the traditional frequency bands, there may be hidden deficits at some specific frequencies within a frequency band. These preliminary results suggest that the EEG analysis at each unity frequency may be more promising means of identifying the neuronal damage than the traditional frequency band based analysis. Eventually, the proposed analysis can provide an improved approximation to monitor the pathophysiological recovery after a concussion.