‘The National Collegiate Athletic Association (NCAA) has recently permitted college athletes to make money off of their Name, Image, and Likeness (NIL) through sponsorship deals and endorsements, which has significantly altered the landscape of college athletics.
College athletes now have many advantages thanks to this transformation, including potential for personal branding and financial security. As well as the chance to profit from their athletic performance.
The possibility for student-athletes to make money is one of the most important benefits of college NIL contracts. Many collegiate athletes are from low-income families and may find it difficult to support themselves while in school. In fact, according to the National College Players Association, 86 percent of college athletes live below the poverty line.
As social media makes up about three quarters of NIL activity overall, athletes may now monetize their social media platforms, products, and other chances with NIL agreements to produce cash to help them pay their bills. NIL agreements also give college athletes the chance to develop their personal brands. In order to boost their visibility and build a fan base, athletes can use their platform to promote themselves, their sport, and their team.
Additional opportunities, including media appearances, speaking engagements, and other endorsement deals, may arise as a result of this increased exposure. NIL contracts can give athletes useful commercial and marketing experience.
College athletes can acquire skills that are applicable outside of their sporting careers by negotiating their contracts, handling their finances, and creating their brands. In order to transfer to other careers, this experience might be especially helpful for players who may not continue playing professionally.
NIL agreements can also help colleges and institutions by increasing their appeal to elite candidates. Schools that permit athletes to make money off of their NIL may have an advantage over those that do not. By allowing athletes to make money off of their NIL, they may increase their personal brand, learn essential business skills, and secure their families’ financial futures.
For the longest time, colleges were raking in NIL benefits by exploiting student athletes. One of the most prominent college talents over the past ten years was NBA superstar Zion Williamson. The New York Times reported that Williamson might have made $5 million after graduating from high school during his tenure at Duke University. In addition to having prominent personalities like former president Barack Obama and rap superstar Jay-Z attend his prime-time games, the social media phenomenon has over 2 million followers.
When Duke played a road game against Williamson, Forbes produced a chart titled “The Zion Effect” that displayed the demand for tickets. According to the graph, the typical fan traveled 95 miles to see a game. Due to NIL deals not being in effect yet, even though ticket sales peaked during his year, Williamson received nothing from any of them.
Running back Reggie Bush, one of the most well-known college athletes, set the world on fire during his collegiate career. He is another illustration of why players should be paid. According to Sports Illustrated, Reggie Bush could have made between $4 million and $6 million during his time playing college football. Bush later had to return his 2005 Heisman trophy because he and his family had accepted benefits. According to The Player Lounge, University of Southern California earned close to $100 million during the tenure of Bush.
The NIL provides players with numerous options to advance their professional careers, which are long overdue. In the past, collegiate athletes have struggled with becoming the face of the sport and earning millions of dollars off of their public image. Now, however, is their moment to receive the recognition they truly deserve.
Spartan Echo 