On campuses around the country, the name, image and likeness (NIL) policy is revolutionizing the way student-athletes can obtain benefits while attending a college or university. As of July 2021, student-athletes can enter NIL deals if they comply with state law and the NCAA’s rules. Essentially, NIL allows college athletes to monetize their personal brand by profiting from their name, image and likeness through various opportunities such as endorsements, sponsorships, social media posts and more.
In the first episode of our NIL podcast series, Anthony Kocheran, an associate in Cherry Bekaert’s Government and Public Sector Advisory practice, is joined by Mit Winter, an attorney at Kennyhertz Perry who specializes in college sports law and has an extensive knowledge of NIL and its effects on college athletic departments. Tune in to learn more about:
- An introduction to the world of NIL, including:
- Collectives
- Employment Status
- Governing Bodies
- Factors that led to NILs current state in college athletics
- How college and university athletic departments are navigating the challenges of NIL
- Observations of what athletic departments are and aren’t doing when it comes to change in college athletics
- How athletic departments are preparing for the future
- Benefits of having comprehensive polices and procedures in place within an athletic department
- One key takeaway about NIL
Due to the ever-evolving NIL space, and the current and upcoming compliance challenges universities are facing, Cherry Bekaert has dedicated a team of professionals to track all there is to know about NIL. As more guidance comes forth, we are here to provide regular updates, thought leadership, current and future state consulting, change management advisory and ready to stand up services. Whether you are a Power Five or sub-division school, we have solutions tailored for you.
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