Individuals have the legal right to control how their Name, image, and likeness (“NIL") is used commercially, including endorsements and sponsorships. For many years, college athletes have been barred from earning income relating to NIL, even though their athletic contributions earned substantial revenue for their colleges. This changed in 2021 when the NCAA lifted those restrictions, allowing student-athletes to make money from NIL agreements. Now, college athletes can sign offers with various businesses, from major manufacturers like Nike and Adidas to smaller neighborhood companies and startups.

Athletes must comply with applicable laws and rules, however. Some states have specific NIL laws, while others depend upon universities to set regulations. If NIL laws don’t exist, universities create their own rules, and athletes are regularly required to report their NIL contracts to their school. Many universities also provide resources like guidance documents and legal guidance to assist athletes in navigating these agreements responsibly. Athletes can earn large sums of money through NIL if they have a large social media following or a huge appeal. For example, former Ohio State wide receiver Marvin Harrison Jr. had an NIL valuation of approximately $1.4 million, partly due to his partnership with New Balance. However, NIL opportunities are not just restricted to big-name stars. Players like Trey Knox and Ga'Quincy "Kool-Aid" McKinstry have leveraged their specific traits: Knox via a PetSmart deal featuring his dog, Blue, and McKinstry through a partnership with the Kool-Aid Brand. These diverse NIL opportunities have reshaped college sports, giving athletes the chance to not only earn but to establish their own brands and deepen connections with fans (ESPN, 2024; Sportskeeda, 2024).

NIL deals have brought benefits for college athletes, but they also come with some significant challenges. One of the primary advantages is financial empowerment. For the first time, college athletes can earn money from their skills, allowing them to support themselves financially. Athletes with high profiles like Travis Hunter have earned large sums of money through NIL, setting an example for future athlete branding (Allison, 2024). NIL deals, however, can create income disparities within and across teams. Most top NIL earners come from high-revenue sports like football and basketball, and athletes with a strong social media presence (or someone related to a famous athlete) often earn more than similarly skilled teammates (ESPN, 2024).