Build, Monetize, & Protect Your Brand
Due to long-time coming changes, student-athletes can now receive compensation for their name, image, and likeness ("NIL"). College athletes were previously prohibited from being paid for their NIL because of NCAA amateurism rules. The NCAA has not created a permanent rule, rather they have implemented an interim rule until Congress can pass legislation.
NCAA Interim Policy
The NCAA interim policy states that educational institutions in states that do not have a current NIL law can make their own policy and those in states with NIL legislation must adhere to those laws. Schools are provided some guidance to help everyone maintain some consistency. For example, athletes can't endorse alcohol and tobacco products, gambling, firearms, or sexually oriented businesses. Current NCAA amateurism rules regarding NIL are suspended.
Status of State NIL Laws
22 States have passed NIL legislation with some already in effect as of July 1, 2021, and others taking effect at different times over the next 2 years. 5 states have used executive orders and other mechanisms to get NIL rules on the books so their educational institutions can remain competitive in the recruiting landscape. Remaining states have introduced bills that are in various stages of passage... except Wisconsin. Wisconsin is the lone state that has yet to even draft a bill.
Let MLG Help You Navigate the New NIL Landscape
Do you know if the state where you're attending school or plan to attend school has an NIL law? Do you know how to remain in compliance and not lose your eligibility? Finally, how are you cultivating and protecting your brand so you can make money from your NIL?
MLG can help! Give us a call or schedule a FREE consultation so we can help you monetize your brand and maintain compliance with the rules and laws of your state.