Since September 30, 2019, the world surrounding Name Image and Likeness has constantly been evolving and refurbishing college athletics broadly. As of July 8, 2022, 29 states have passed legislation regulations, opening opportunities for college athletes to be recognized on a scale that has never been seen in the history of the NCAA.
Group licensing deals have become all the rage in the NIL space, which has expanded the value of athletes. Though this directly impacts athletes through their success, NIL allows companies to have a victorious sensation through marketing. Sponsorships promote effective brand awareness and positive brand affinity, increase overall revenue, promote service lines, market new products, and touch consumers more profoundly.
The NCAA is so passionate about the benefits NIL brings, according to The Boston Globe, "The NCAA had been lobbying Congress to pass a nationwide NIL law to avoid the state-by-state patchwork that was falling into place" (McInerney). With so much support and amusement college athletes bring to millions, the NCAA is passionate about the benefits NIL brings.
With everything new comes susceptibility among individuals; several college athletes and those who provide contracts have broken through the negative perceptions by demonstrating all the positive benefits NIL holds in recent years. According to Sports Illustrated, "It's really a win-win between campus and athletics because it's allowing the students in those schools to be able to work in real-life business scenarios, and it gives our student-athletes the support they need to help monetize their name, image, and likeness," Klassy says.
Not only does NIL open immense opportunities for college athletes, but it also can directly impact students who have applicable skills. Sports Illustrated says, "Older students from the business school who are well-versed in financial literacy, marketing, and other relevant topics can choose to serve as "NIL advisers." Law students can help athletes create LLCs, and students in the journalism school's advertising agency can assist on the marketing side of things" (Bromberg).
The NIL space has a plethora of plans for the future. According to ESPN, several prominent athletic departments such as Duke and Ohio State have hired new employees to help athletes find opportunities to make money and answer questions about what they're allowed to do. It is essential to soak up all the resources and opportunities NIL has to have notable success. Moreover, the NIL space is forever sculpted; it is currently far from clear, with several engagements in the court system in years to come, anticipating that more states will legalize NIL in recent years. As college athletes make more money, legal battles will be a consistent hurdle NCAA members will face in recent years.
https://www.bostonglobe.com/2021/06/30/sports/ncaa-nil-rules-change/
https://www.espn.com/college-sports/story/_/id/34173052/year-radical-change-happens-next
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