NIL Deals for Student-Athletes: A Plain-English Starter Guide

What NIL (name, image and likeness) deals are, how student-athletes can find and evaluate them, and the questions to ask before signing anything.

What an NIL deal is

NIL deals let student-athletes earn money from their name, image and likeness: social posts, appearances, autographs, camps, product endorsements and more.

Check your rules first

NIL rules differ by state, school, conference and governing body, and they change. Before you agree to anything, ask your school's compliance office what you must disclose and what is not allowed (for example, some categories of sponsors). Source Impact does not give legal advice and does not replace your compliance office.

Build a profile brands understand

• Sport, school, position and season dates.
• Your social channels and the type of content you post.
• Local or community ties (hometown, causes you support).
• Availability: when you can and cannot take on work.

Where deals come from

Local businesses near campus or your hometown, brands you already use, collectives and marketplaces. Start small and local; those are often the easiest to agree and deliver.

Questions to ask before you sign

• Exactly what you must deliver and by when.
• How long the brand can use your name and image, and where.
• Exclusivity: are you blocked from working with competitors?
• When and how you get paid.
• Whether the agreement conflicts with team or school agreements.

Consider having a parent, agent or attorney review contracts.

Taxes

NIL income is generally taxable. Keep records of what you earn and talk to a tax professional.

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