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The New Era of College Athletics : The NIL Deal
There was a deal made in June of 2021 after the NCAA vs . Alston case which centered on whether or not athletes could earn compensation based on their likeness . The case resulted in a unanimous vote and many states have agreed to pass the bill . You may have heard of the Name , Image , Likeness ( NIL ) Deal , but what does this ruling mean for future collegiate athletes ?
WHAT IS THE NAME , IMAGE , LIKENESS DEAL ?
An NIL agreement is basically a contract set in place for the student-athlete to earn fair compensation for their time and effort , now allowing them to market their likeness . An NIL agreement could be an endorsement deal on a local or national level through various marketing platforms . The deal will allow collegiate athletes to earn wages from endorsement deals and more through outside companies based on their name , image , and likeness .
In the simplest of terms , Name , Image and Likeness ( NIL ) is a term that describes the means through which college athletes are allowed to receive financial compensation . This doesn ’ t just mean brand deals , social media influencing and billboards , this can also be through setting up camps , teaching lessons , etc . It covers any means of earning money related to a player ’ s NIL through their athletic talents or recognition .
In a media-driven world overflowing with social media celebrities and new influencers going viral every day and getting brand deals and sponsorships — it makes sense for College Athletes to want in on the benefits of sponsorships and brand deals .
HOW DOES THE NIL HELP COLLEGIATE ATHLETES ?
College athletics are widely watched with a huge fan base and a great potential for influence marketing . The NIL allows studentathletes to obtain sponsorships , be paid for social media posts , sign endorsement deals , sign with agents , and more .
College Athletes have long been used in promotions and on school-inspired merchandise but were unable to earn the compensation . The NCAA v . Alston ruling puts the power in the hands of the student-athlete instead of the college / university team they are on . This would apply for all sports — golfers , tennis players , olympic athletes , etc .
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Student-Athletes can now earn more than scholarship funding , they can earn their own money and control how they choose to promote their name , image , and likeness !
ATHLETES ARE NOW ALLOWED TO :
• Monetize their social media accounts
• Sign autographs
• Participate in advertising campaigns
• Teach camps or lessons
• Start their own businesses
• And more !
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If you ’ re considering college athletics and the idea of possibly earning money through endorsement deals or social media influence appeals to you , make sure you check the state laws and the school regulations for the university or college you plan to attend .
* Source : https :// www . profootballnetwork . com / what-is-nil-meaning-name-imagelikeness-explained /
22 | Fall 2022 www . potentialmagazine . com