NIL

NIL refers to Name, Image, and Likeness, a policy from the NCAA that allows college student-athletes to earn money and other compensation by using their personal brand for commercial purposes, such as endorsing products, making personal appearances, selling merchandise, and creating sponsored social media content. Introduced in 2021, this policy permits college athletes to profit from their identity outside of their athletic scholarships, a right previously denied to them. 

How NIL Works

• Name: A student-athlete’s legal name and any other unique identifier they use. 
• Image: Photos, videos, or any visual representation of the athlete. 
• Likeness: Other aspects of an athlete’s identity and persona, such as their voice or even habits. 

Key aspects of the NIL policy

Market value: NIL deals are expected to be at market value, ensuring fair compensation for the athlete’s brand. 

Financial compensation: Athletes can receive money or other benefits for their personal brand. 

No “pay-for-play”: Compensation is for the athlete’s name, image, and likeness, not for their athletic performance or for simply playing a sport. 

State and school rules: NIL activities must comply with state laws and the specific rules of the athlete’s college.