The NIL term has taken on new meaning amid the national conversation. Most simply, “name, image and likeness” are three elements that make up a legal concept known as “right of publicity.” Right of publicity involves those situations where permission is required of a person to use their name, image, or likeness.
Let’s make this simpler for you to understand. Now a college athlete will be able to receive compensation for third-party endorsements related to athletics, without school or conference involvement. Compensation for other student-athlete opportunities, such as social media, new businesses, and personal appearances, without institutional involvement or the use of trademarks/logos. Practically speaking this will allow an athlete to now run their own camp, build their own business, create content that leverages there brand and experiences and more.
For more information visit the NCAA site on NIL here: https://www.ncaa.org/champion/name-image-likeness
So, when can we expect this to take effect? Several states have implemented state legislation to put this into effect at a state level by July 1, 2021. That date has thereby forced the NCAA to create policy, governance, and secure partners to help them execute this. Today in fact the NCAA is at a hearing with the Federal Government hearing more about NIL and the outcome will affect every athlete at every level of play from the moment the Federal/NCAA legislation is put in place. Net Net, a fundamental change for college athletes is nearly here.
What can you be doing now as a family or student-athlete? Thinking about your brand, your social presence and considering what you want to do following college is part of what you should be considering. Do you like to fish and hunt? Is that showcased on your social presence? Do you like to build things or have a passion to own your own business? Let’s start planning that now.
Our plan at the Bedford Agency is to extend our consulting services beyond College Sports Recruiting and help families and student-athletes navigate the NIL process in a personalized manner! We are considering a Bedford Ambassador program for athletes that we help that move on to college to receive compensation for promoting and referring athletes and families to us, we are considering building out platforms for our college clients to host their own camps and private instruction as well as several concepts around consulting, branding and video. To find out more about what we are planning at the Bedford Agency regarding NIL please visit this page: https://thebedfordagency.com/portfolio/niladvisor/