what is an nil deal

NIL stands for Name, Image, and Likeness, and it refers to the way college athletes can receive compensation. In the simplest of terms, NIL describes the means through which college athletes are allowed to receive financial compensation. This can include autograph signings, product endorsements, social media posts, and more. The term NIL money' refers to money that an athlete can earn by signing a NIL contract which in turn allows the athlete to market their name, image, and likeness. The exact amount of money received depends on factors such as social media following, market value, and the actual sport in question. College student-athletes competing in states without an NIL law will have the freedom to receive compensation for their NIL however they see fit, as long as they do not violate pay-for-play or receive financial incentives to sign with or remain at a program. Each individual school has oversight of NIL deals and the right to object to a deal if it conflicts with existing agreements. Student-athletes looking to monetize on their NIL will need help securing deals, and there are many companies that have been working with professional athletes for years that will offer their services to college athletes.