Will an NIL Deal effect my eligibility?

There isn’t a national standard for NIL Deals. As a result, student-athletes must refer to state laws for guidance.

By knowing the state laws, you’ll discover the conditions by which you can monetize your NIL. You’ll learn what to do to avoid getting penalized.

Who will own the intellectual property?

Your name, image, and likeness are your intellectual property as an athlete. Think of your NIL as you would an asset. To protect that asset, consider consulting with an intellectual property lawyer to discuss filing a trademark.

A trademark can shield your NIL from people and companies using your name, logo, or slogan for profit without your permission.

How will NIL deals impact my scholarship?

Before signing NIL deals, consider meeting with your financial aid office. Ask them to help you review the details of your scholarship. If they can’t help, they should be able to point you to someone who can.

If there’s a chance that additional income may cause you to lose a scholarship, you should know this ahead of signing a NIL deal. You would need to calculate if your NIL money (after taxes and other expenses) can easily replace your scholarship money.

What are the types of sponsorships I can sign?

Here are some of the most common forms of sponsorships:

• Direct payment: A sponsor pays you to use their products in public or on social media.

• Free products: A sponsor supplies you with their products in exchange for you promoting their brand. For example, a local pizzeria gives you free pizza in exchange for Twitter mentions.

• Free services: A sponsor provides you with their services in exchange for your support. For example, a local barbershop gives you free haircuts in exchange for Instagram mentions.

• Affiliate money: You promote your sponsor to your audience on social media platforms. In return, your sponsor gives you a percentage of profits generated from your followers’ engagement. If you have a large audience interested in your sponsor’s product, you can make spectacular profits.

• Ambassador relationship: With this arrangement, you’re the sponsor’s ambassador. Meaning, you allow your sponsor to use your NIL in exchange for cash. But this strategy isn’t only good for putting money in your pocket; it can also help increase awareness of your brand, which positions you to charge higher sponsorship fees.