Student–athletes are now eligible to sign name, image and likeness (NIL) deals and receive compensation regardless of their state‘s NIL laws.
The NCAA announced on July 1 that D1, D2 and D3 student–athletes can begin signing with companies. According to CNN, it is estimated that around 460,000 college athletes can now sign sponsorship deals.
After the announcement from the NCAA, college athletes began promoting themselves on social media in hopes that companies would begin offering endorsements.
Upon receiving information concerning the new rules of NIL deals, some colleges have implemented new policies stating that their athletes cannot use the school logo, designs or uniforms in any of their NIL activity.
For example, Clemson University implemented policies stating that students cannot use Clemson‘s designs, logo or athletic department property within their deals and to earn compensation.
As for Winthrop Athletics and its policies concerning NIL deals, interim athletic director Hank Harrawood explained that the department has based its policy on the state law that is anticipated to go into effect during the summer of 2022.
Athletes who will be participating in business deals are required by the state of South Carolina to complete a NIL disclosure. This form gives information regarding the details of the deal between the student and companies. An example of this form can be found on the Winthrop Athletics website.
Matthew Levenson, an infielder for the Winthrop baseball team, has taken advantage of the opportunity by signing a NIL deal.
“I currently have a deal with GLHF Supplements and receive compensation through monthly salary by promoting and selling their product,” Levenson said. “They are a newer company, but they sell a highly tested product that most companies do not get because of high costs.
“I also just signed a clothing deal with Envision Clothing Company. They are a recent start-up launching workout apparel for athletes and any physical activity. The ideals of the company line up with my personal ideals as they promote hard work and dedication.”
As a result of the NCAA‘s new rules, the expectations and push for athletes to begin taking deals and endorsements have increased.
“I think other student–athletes should take advantage of this NIL because it can only benefit them,” Levenson said. “There is no hurt in trying to make some extra money and promote yourself. It has helped me grow my own personal brand.”
According to ESPN, students who begin signing NIL deals with companies can receive compensation in the form of money through a third-party service such as Cash App, Venmo or Zelle. Compensation can also be received in the form of free products and gear that can be used during games and practices as long as it is approved by their athletic program.
Compensation such as clothing and athletic gear can be used as a part of the NIL deal as it would promote the company and be a form of advertisement.
