Name, image and likeness is here -- what it means for college athletes
Posted June 30, 2021 6:50 p.m. EDT
Updated July 1, 2021 9:07 a.m. EDT
It’s a whole new world in college sports.
For decades, the NCAA has limited where, when and how student-athletes can profit from their celebrity. That all changes with new rules that allow players to profit from their name, image and likeness – often called NIL.
So, what will this look like?
"You are going to see a range of people finally profit off their name," said Joe Giglio, co-host of The OG on 99.9 FM The Fan.
It will likely start with social media, already a large marketing tool for popular athletes.
"Someone who wants to advertise on his Instagram or any of his social media accounts, it will now be allowable under NCAA rules," Giglio explained. "When you have someone that has a million and a half followers on Instagram, there is no reason why he wouldn't be able to make a deal with Verizon."
Initially, it will be a lot to navigate.
Dean Jordan is with Wasserman, a sports marketing and talent management company. He believes there will eventually be federal rules on how these deals with student-athletes will work.
"I do believe there will be a federal standard because of the difference in state laws," Wasserman said.
So, how many athletes will benefit from this?
As the old saying goes, value is determined simply by whatever someone is willing to pay. So, in this case, well-known student-athletes with large social followings are the most likely to profit. But, in any college sport, the top tier of household names will likely stand to make significantly more than the rest.
"That upper echelon will be few and far between," Jordan said.
Right now, there are NIL changes at the state level. In Florida, Georgia and Texas, rules are going to effect to allow student-athletes to get in on endorsements. Giglio feels North Carolina may need to act soon to stay competitive.
"You are going to see something from North Carolina, I am sure, in the coming days, given the number of schools we have in this state who are going to want to be competitive," Giglio said.
Jordan, who called this "an action whose time has come," sees little effect at schools like Duke, Carolina and NC State when it comes to athlete recruitment. In fact, the exposure that large programs such as these will provide may make recruiting easier.
"They are going to have the success because of the tradition, not because of the NIL," he said.
Bobby Robinson is a Charlotte-based attorney and NIL expert who represents athletes. He provided WRAL with a playbook as to what athletes and students should do as early as middle school.
“You have scouts, you have leagues, who are coming after kids who are in middle school," Robinson said. "So, this is the right time for parents, particularly of minor athletes, to really start to think about how to protect their brand, long term.”
He believes this news will force a change in the way student-athletes view their own value.
“The goal right now is to really think as if you were an entrepreneur," Robinson said. "You have to sort of approach this to say, ‘how do I leverage my name, image and likeness for my benefit?'”
Robinson said not only should college athletes begin to protect their brands, but also high school and even middle school athletes. He suggests five steps athletes and their parents should take immediately for their brands.
- Form a business entity, such as an LLC, to mitigate their risk.
- Retain legal counsel to overview contacts to protect brand and image.
- Apply for copyrights and to trademark their names and brand.
- Buy or register all domain names or social media handles that apply toward the a student athlete, to avoid paying someone else later for access to their own namesake.
- Become familiar with the FTC social media endorsement guidelines so they’re not unintentionally exposing their brand to potential liability.
Robinson said doing those things opens up different ways student athletes can benefit from these new NIL rules.
“So you have the influencer marketing space, promoting products and services on social media. You now have the ability to make personal appearances, that is huge. But, then also, it’s their ability to create an independent business. So, if I have an apparel brand, I can now do that," he said.
