This new development will forever change the landscape of collegiate sports and bring about a plethora of companies looking to take advantage of the unknowing student-athlete. Although there will be ample opportunities to earn income for their “name, image, and likeness (NIL)”; there will also be ample opportunities for these student-athletes to jeopardize their NCAA eligibility.

With opportunity comes responsibility. Unfortunately, no uniform rules govern a student-athlete’s ability to monetize their NIL. Instead, individual school policies and State laws create a confusing and inconsistent variety of restrictions for athletes depending on where they attend school. Most states and schools also prohibit athletes from signing any deals that conflict with the school's sponsorship agreements. For example, a football player on a team sponsored by Reebok would not be allowed to wear non-Reebok shoes during games. However, in most cases, that athlete could promote a non-Reebok shoe company during times when not playing or participating in other team activities.

Reporting requirements create another part of the landscape that must be navigated carefully. In most states, the NIL laws provide a time frame in which athletes need to share the details of any potential NIL deals with the school. On top of that, some states require the school to approve of deals ahead of time. Even though the NCAA rules don't specifically require that athletes report their deals to schools, it's highly likely that most schools will create policies that require some form of disclosure.

Despite the rules and restrictions facing the student-athlete, we are entering a time like no other. Companies have begun to create opportunities for student-athletes to earn income from their NIL. Everything from participation in product advertisements in print ads, television ads, and billboards to radio and TV appearances have the potential to line the pockets of the collegiate athlete. The rise of social media also presents an opportunity for student-athletes to monetize their personal brand through NIL. Additionally, collegiate-athletes may be in a position to earn appearance fees at stores, venues, and events, offer paid coaching services, and participate in paid autograph signings.

As you can understand, the legal issues on the horizon in the new world of NIL will be wide-spread and complex. Consulting with an experienced attorney before starting or engaging in any business venture is always recommended, regardless of background. However, engaging in the business of monetizing your NIL poses a greater need to consult with an attorney. There are very real consequences of doing something wrong that could jeopardize your future prospects in and outside of sports and the NCAA.

If you are a current or prospective NCAA student-athlete and believe that you may be in a position to financially benefit from your NIL, give our office a call so that we can help you navigate this new landscape and maximize the value of your NIL.

• Working with school compliance officers to ensure the proper documentation of the NIL relationship exists to remain NCAA compliant and do not pose a risk to NCAA eligibility.

• Providing contract drafting, contract review, and legal advice where appropriate when entering into an approved NIL relationship with business partners and/or appropriate third parties.

• Providing representation for student-athletes in all aspects of NCAA NIL related compliance and enforcement actions.

• Providing assistance and legal advice to student-athletes about how to benefit from their NIL in compliance with NCAA Legislation.

• Helping student-athletes collect money earned but not paid for work performed by a student-athlete by a business partner or third party.

Contact the Cozza Law Group today to schedule a no-cost, no-obligation consultation.