NIL stands for Name, Image, and Likeness—and it is taking the college athletic world by storm. For years, questions about whether or not student-athletes should get paid have been on the proverbial table.
For some, there is great resistance to changing the system that's always been while for others, it's a question of equity and fairness. In 2021, the US Supreme Court instituted NIL, opening the door to college athletes' ability to earn.
College athletes have always been considered to be amateurs, which prohibited them from taking money or compensation from the institutions in which they attend. NIL has changed that.
In truth, the lines around college athletes being given monetary compensation have been fuzzy for decades.
Today, as the NIL conversation rages, one side is discussing the ways that NIL deals are helping college athletes.
They Can Brand Themselves
Rather than being number 12 for their university's basketball team, a player can put his or her own name out in the marketplace.
While they might not be actively engaging in sales operations, their thoughts can begin to turn toward investing outwardly in themselves.
They can develop their own personal brands on digital channels, become influencers, and are more likely to be sponsored by corporate entities.
College athletes can now sign autographs, earn money from social media and sign endorsements with business entities who want to work together to pitch their products or services.
Every dollar earned is also another boost to their brand, so as long as they remain active and healthy, it's a win-win scenario.
Equity Is Redistributed
Because the major division I institutions have long had a stranglehold on 'talent', college athletes might have felt pigeon-holed into signing with a big name. Consider the pressures and the promises that come from the recruiting team.
Now, the athletes can go to a local school, a smaller school, a school that their parents attended, or any school that has a program that they want to be a part of, without losing so much of their luster, though it's necessarily a smaller stage.
Because they can take their already talked-about high school level talent to any stage, be it Division I, II, or III, student-athletes can perform where they choose and generate their own marketing campaigns, establishing themselves as a commodity worth investing in.
This benefits the colleges, of course, as much as it does the athletes.
They Are Earning On Their Talents
Remember the statistics that reveal that only one out of several million athletes will ever turn professional?
Though that's still relevant, college athletes now have the ability to earn compensation for their talents. When their college or university markets college athletes to recruit, generate money from alumni, or to sell tickets, those college athletes now earn a share of that money.
Consider how long professional athletes have been paid spokespersons for all nature of products. Decidedly one of the major perks to making it to the pros, being paid to advertise at once puts money in your pocket and raises your brand awareness.
Those college athletes are now allowed to participate in this is beneficial for the athletes, the institutions, and the corporate sponsors.
College athletes are important components of their institutions and could potentially earn a lot of money on their behalf.
Many have argued that this is an imbalance of equity and the relationship between colleges and their athletes has been redrawn.
Giving college athletes the autonomy to earn money and boost their brand, especially in the ever-fleeting world of athletics, is tantamount to restoring equity to the world of college athletics.
