Rose athlete endorses NIL deals
SAT. | 11-27-21 | SPORTS
National Collegiate Athletic Association (NCAA) athletes have been forbidden from profiting from endorsement deals and sponsorships for decades. However, the new NCAA NIL (name, image and likeness) rules went into effect on July 1st, 2021.
College athletes are now allowed to receive "NIL compensation" for sponsored social media material, broker endorsement deals, autograph signings, and other sources of income. This promotes brands and products through utilizing their name, image and likeness without suffering penalties such as scholarship reductions or threats to their eligibility, thanks to a new state law.
The policy will change the face of college sports and will have an influence on all student athletes in the United States as they approach the era of financial independence. Hundreds of thousands of college players across all three divisions are profiting from the new regulations, which allow students to lawfully take NIL payments and provide student-athletes a chance to earn money in a billion-dollar market.
As a result, unlike earlier legislation, NCAA athletes will now be permitted to accept marketing deals, hire agents, sign sponsorships and be compensated for work they do, which has never happened before.
According to Sports Illustrated, Antwan Owens, a football player at Jackson State University, made history by becoming the first college athlete to sign an endorsement agreement the first day the rule changed. He made his contract with Three Kings Grooming which is a Cincinnati-based company that sells luxury hair products and equipment. Ever since Owens made the deal, there have been many more, and the numbers have continued to rise.
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Jackson State University roster
The ban on collegiate athletes getting rewarded while in school has been a sensitive and difficult topic for a long time. The NCAA ultimately caved in to public pressure and announced the new interim NIL agreement rules. However, any such agreements would have to be negotiated through a third party, as universities will still be forbidden from paying athletes directly, to avoid athletes being considered university employees.
The new restrictions are the NCAA's response to what would otherwise have been a major imbalance on the NIL front as a result of a slew of state-level laws. On July 1 2021, six states passed laws that would have overturned the NCAA's previous rules by allowing college athletes to profit from their NIL. With no federal legislation in sight, the NCAA was forced to make a decision: either establish its own regulation or enable athletes in certain states to benefit from their NIL while others cannot.
The reason for this new rule is to prevent student-athletes from weakening the foundation of collegiate athleticism, which is said to value education, and states that amateur athletes should be free of financial influence. In addition, only men's basketball and American football are profitable. The NCAA transfers all of the revenue gained by those two sports to the rest of the athletic department, allowing athletes in women's lacrosse and men's track and field, for example, to receive scholarships that they would not have received otherwise due to a lack of a strong fan base.
Recently, I was asked to join a new brand called the Fab 50 where I will be conducting social media advertising and clothing presentations for their label. Since I am not yet in college, I will not be able to make any money, but once I am, I will be able to begin. I felt so honored to be asked to be a part of their team so I can only imagine how these college athletes who are getting endorsed feel. Especially since the financial aspect of college is so difficult even with scholarships, so any assistance is very beneficial and greatly appreciated.