Effective today, July 1, the NCAA has officially suspended the organization’s rules prohibiting athletes from selling the rights to their names, images, and likenesses (“NIL”). Despite the NCAA’s longstanding principles that payments to athletes while attending college would undermine amateurism of college athletics, the organization’s Division I board of directors decided Wednesday that it would allow all athletes to earn money from their NIL.
The decision by the NCAA comes just one day before multiple states had NIL laws set to go into effect allowing athletes to profit from NIL. To prevent athletes at schools in those states (including Texas, Mississippi, and Alabama) from gaining an advantage, the NCAA has allowed students in all states to profit from NIL until a nation-wide NIL law is approved by Congress.
Starting today, players will be able to monetize their social media accounts, sign autographs, teach camps, start their own businesses, create intellectual property, and participate in advertising campaigns. One thing this does not do is grant schools the ability to pay athletes salaries for their athletic performance or use payments for recruiting purposes. Individual schools will be able to create their own guidelines and rules for their individual athletes. Athletes are also now allowed to sign with agents to help them negotiate and sign endorsement deals without risking their college eligibility.
According to the Action Network, LSU gymnast, Olivia Dunne, and LSU basketball player, Shareef O’Neal, are 2 of the top 3 athletes who are favored to capitalize the most on NIL due to social media followings and name recognition. Derek Stingley, Jr., LSU defensive back, also projects to cash in from his NIL due to popularity.
Texas Tech QB, Tyler Shough, and University of Texas running back, Bijan Robinson, who is a top 10 Heisman trophy candidate, are both expected to profit from their NIL from social media engagement and recognition.
NIL deals began rolling in as soon as the clock struck midnight, ushering in a whole new era of college athletics. Miami QB, D’Eriq King, has already signed an endorsement deal with “College Hunks Hauling Junk” which will reportedly net King $20,000.00. King’s deal was the first NIL deal that reported the monetary payout to the athlete. Wisconsin QB, Graham Mertz, has also already filed for a trademark for his personal brand logo. I expect players to get creative with their newfound freedoms as college athletics navigates these new waters.