College NIL for Student Athletes
When college athletes team up with companies to use their Name, Image, and Likeness or NIL, they can make money, maximize earning potential and help their aspiring brand grow. Creating a personal brand will not only help the athlete make money but help with creating awareness of the athlete.
NIL Do’s AND Don’ts
NIL Do’s
There are certain categories of goods that you cannot profit from (alcohol, gambling, etc.); always remember this!
It is a smart idea to obtain legal advice before making any type of NIL agreement.
This could be through hiring a professional or agent to help you negotiate an endorsement deal or get deals.
Always disclose any NIL activity to your school’s compliance officer.
NIL Do NOT’s
You cannot receive any performance-based incentives. No “Pay-for-Play.”
Your NIL agreement cannot incentivize your audience to attend a certain school.
You cannot use your school logos (in almost all cases) in your NIL deal.
Don’t assume that only the star players in the most popular sports can cash in on NIL deals. Using Honorarium will help not only the star players but every player on the team.
What does the interim NCAA NIL Policy Say?
The interim NCAA NIL Policy permits student-athletes to benefit from their NIL. It is in place to protect and promote the national recruiting environment and fair competition. It allows the membership to develop experiences that may impact future policy changes. It has prohibitions on pay-for-play. There must be a quid pro quo in place meaning a service or an action must take place for payment. It acknowledges the need for schools and student-athletes to comply with state law.
As a student-athlete:
Refrain from accepting compensation in exchange for athletic performance or as a commitment to enroll at a school.
State law and schools may impose additional requirements related to NIL.
How to maximize your NIL earning potential
Be active on Honorarium
Play your best
Educate yourself on what your can and cannot do: Link to do’s and do not’s
