A drag adjustment assembly includes a lever arm unit, a nut, a first keyed structure, a second keyed structure and a spring. The lever arm unit forms a housing and includes at least one keyway. The nut, first keyed structure and second keyed structure are positioned in the housing. The first keyed structure and second keyed structure each include at least one key which engages the at least one keyway. The inner surface of the nut is threaded, and an outer surface of the first keyed structure has a corresponding thread. The spring is positioned between the first and second keyed structures.
