The NCAA passed a new policy that can make a positive change for student athletes. For years NCAA and broadcasting programs have made millions off of college sports and their athletes, some of these athletes believe they should be given a cut of this money. Many argue that college athletes should not get paid, but recently the NCAA passed a new policy regarding athletes getting paid. On June 30, 2021, the Division I Board of Directors approved an interim name, image and likeness (NIL) policy, allowing all NCAA Division I, II, and III athletes to be paid in sponsorships using their names and faces. NIL rules in all states allow players to sign agents who will help secure endorsements, appearances and even “sell” their name. Regardless of a state not having an NIL law, athletes will be compensated in their college as long as they don’t infringe on the pay-for-play rules and financial incentives.
Some of the biggest NIL athletes are Arch Manning, Olivia Dunne and Bronny James. Manning has about a $2.8 million NIL estimated worth from this deal, Dunne has about a $3.4 million value and James with about $6.8 million.
Many student athletes make money off of NIL deals through partnerships with local businesses, rather than large corporate brands that partner with pro athletes. Often for NIL promotions student athletes will receive free merchandise, or small cash payments, a very birthday present style payment instead of a large cash payment. Student athletes are also paid for autograph signings and running or sponsoring training classes.
College athletes have many different options to make money with this new policy. UCLA gymnast Samantha Sakti earned $10,000 from wholesale store Sam’s Club just because her name is Sam. Sakti is one of many Sams the organization is singing with as a promotion. Gonzaga University forward Drew Timme of the men’s Basketball team signed with the Dollar Shave Club to serve as an influencer for the company. Dollar Shave Club named Timme a “chin-influencer” using his famous handlebar mustache and smooth chin to promote their razors. In one instance the Dollar Shave Club asked fans to post a picture of their smooth chin to have a chance to win tickets to the Men’s Final Four.
Although not every college athlete will get paid through NIL deals, more than 21,000 college athletes have benefitted from the new NCAA NIL Policy. According to the NCAA student athletes can receive between $1,000 to $10,000, allowing them to boost their bank accounts.
In a Sports Illustrated interview Dunne stated, “I’m very grateful to be making seven figures. It is very cool that someone in college has the
opportunity to do that now.”
The new NIL policy will forever change how college athletes are supported with the ability to earn money through endorsements and advertisements. College athletes’ futures have now changed, increasing the value of their bank accounts.
