12 Under the policy, any money, goods, property, or services college that athletes receive from NIL deals are considered to be taxable income.3 The NCAA’s NIL deal policy does not permit schools to offer student athletes signing bonuses, ongoing compensation, or other financial incentives to ...
“I’m very concerned about deals that athletes are entering into that are extremely exploitative,” said attorney Darren Heitner, who helped write Florida’s NIL law. “I’ve looked at over 100 [NIL contracts], and I’ll be honest, there’s not a single deal — not a single one — ...
Schoenthal is doing his part to educate college athletes on those deals and what will be most beneficial for them in the long run "When you look at financial literacy, this is where, when we figure out the space, the name, image and likeness deals have the ability to be the greatest t...
and likenesses, or NIL, as the fast-emerging asset is known. Plugging a product or service on social media is just one way college athletes have begun cashing in. Once the NCAA announced the NIL rules, companies large and smallhave wasted no timefinding college athletes for sponsorship deals...
The NIL era has allowed college athletes to save for the future and seek professional financial advice in a way many 18- to 22-year-olds can't. NCAAathletes hire agents and financial advisors to help them negotiate NIL deals, ushering in new financial responsibilities. ...
Still in the beginning years of the NIL era, Watkins is setting the bar for what athletes can do during their time in school. She continued to expand her impressive portfolio by inking a deal with State Farm and appeared...
In short, if this bill passes, it would make the money that Louisiana student-athletes earn from NIL deals exempt from state income tax. States like Illinois & Alabama already have similar bills in place. So, in his mind, this levels the playing field and would allow Louisiana to get & ...
Fans who want to financially support college athletes through name, image and likeness deals can now do so with just a few clicks online. Opendorse, a company that partners with dozens of schools to help initiate, track and monitor NIL deals, on Monday launched an online marketplace where ...
Thus far, most college athletes' NIL deals for payments are for posts on the athletes' own social media channels for products, including their own self-promotion in relation to brands, or promotion of brands such as fast food and auto dealerships. Notably, published scholarly...
The NCAA is also creating a public database that it hopes will allow athletes to assess fair market value. Booster-funded NIL collectives have become a common way athletes are compensated, but now those deals will be subject to review through an arbitration process to determine if it is for ...