Need a guidebook to get started with NIL? We’ve created a “starter kit” to serve as a guide for athletes or parents navigate this new and evolving space and its implications to recruiting as well.
Before you start considering Name, Image and Likeness consider a few fundamental questions we encourage you to ask yourself:
- What are my passions besides the sport I play?
- Why this is so important is NIL is about showcasing yourself as a brand. Want do your do or what are you interested in beyond your sport that makes you unique and creates a following.
- What is my career interest following graduating from college?
- Several student-athletes we have spoke to have interest in using NIL as a way to get a head start on their business or marketing careers. Maybe this is what is driving you to consider this?
- How comfortable am I on social media?
- Did you know that 79% of NIL deals in the college space are executed on social media? We predict this to be closer to 90% or greater in the High School market.
The key for most all student-athletes and parents is to get educated on Name, Image and Likeness. Here are a handful of great resources for NIL Education.
State and National Rules:
In the High School space, each athletic and activities organization governs its NIL rules specifically. To find out more details about your state rules visit the State specific NIL legislation. In the college space the
NCAA NIL legislation is much more clear. Make sure to review the rules before you execute any agreement.
Leveraging Marketplaces & Agents:
Unless you are a very high profile athlete, you likely will NOT have an agent. However, if you are approached by an agent ask about number of clients, number of contracts negotiated, examples of previous work, references and more. That said, one way you CAN start with Name, Image and Likeness is via a marketplace. Read more about marketplaces and get a list of them here Marketplace Tracker
Managing your money:
We’ve all heard about taxes, savings and more, but as a student-athlete its critical to have a great Understanding Tax Implications. Make sure you have help on any agreement you sign but also make sure you put money back for tax purposes.
Other helpful tips:
For more information on how we work with student-athletes, parents and coaches on NIL, visit http://www.recruit-route.com or http://www.thebedfordagency.com or send us an email at email@example.com