How Name, Image, and Likeness Changed College Sports Forever
For decades, college sports generated billions of dollars through ticket sales, television contracts, sponsorships, and merchandise. Stadiums filled with thousands of fans every weekend. Television networks paid enormous amounts of money for broadcasting rights. Universities built athletic departments that became nationally recognized brands. Yet despite the money flowing throughout the industry, the athletes themselves were largely unable to profit from their personal popularity. A star player could have millions of followers, sell out stadiums, and help generate significant revenue for a university, but NCAA rules historically prevented them from earning money through endorsements or sponsorships. That changed dramatically with the introduction of Name, Image, and Likeness, commonly known as NIL. NIL refers to the ability of student athletes to earn compensation for the commercial use of their name, image, and personal brand. Rather than being limited to scholarships, athletes can...