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College NIL for Parents of Student Athletes

There are a few key things that parents of college athletes should consider before their child signs a deal to receive compensation for the use of their name, image, and likeness (NIL).

1.     Understand the terms of the deal: It is important to carefully review and understand the terms of any NIL deal, including any potential limitations on the athlete's ability to receive endorsement deals or sponsorships from other companies. Make sure that the terms of the deal are fair and reasonable, and that the athlete fully understands the potential risks and benefits of signing the deal.

2.     Make sure the proposed deal does not conflict with exclusive contracts already in place between your child’s college and another brand.  Representing Coca-Cola at a Pepsi school or Adidas at a Nike school can be a problem.

3.     Consider the athlete's personal brand: Parents should also think about their child's long-term goals and whether an NIL deal is consistent with the brand the athlete is looking to establish. For example, does the company reflect the values of the student-athlete and will they be proud of this alliance in the future?

4.     Consult with an attorney: It is a good idea for the athlete and their parents to consult with an attorney who has experience in sports law to help them understand the legal implications of the NIL deal. An attorney can also help to negotiate the terms of the deal to ensure that the athlete's interests are protected.

5.     Seek advice from the college: Parents should also consider seeking advice from the athlete's college or university, as they may have resources available to help guide the athlete through the process of negotiating and signing an NIL deal.

6.     Make sure you review the NIL rules in the state your child will be playing.  Many states have their own laws and a deal that is permitted in one state may be prohibited in another.

 Overall, it is important for parents of college athletes to carefully consider the potential risks and benefits of an NIL deal before making any decisions and to seek the advice of professionals who can help them navigate the process.