The New Interim NIL Policies and What You Need to Know
On Thursday, Oct 27, 2022, the NCAA released an official statement that outlines some new NIL guidelines around what is a permissible and impermissible activity for Institutions. There are quite a few changes to note, so we’re here to break down everything you need to know about the New Interim NIL Policies.
What Athletes Need to Know
The NIL space is a bit like the wild west right now - it's very exciting and a ton of cool stuff is happening. However, with these changes, we recommend that all athletes exercise caution when considering any NIL opportunity. Information is your friend, so review everything thoroughly. A few key things to note.
- Do not use University resources unless you can prove that these resources are available to all students at the school.
- Student-Athletes should continue to report their NIL activity to their University Athletic Departments.
- Be careful who you select to represent you. Make sure they have your best interests at heart and are allowed to represent you on NIL deals.
"It is Impermissible for the University to provide services that are not generally available to the rest of the student body. Graphic designers, tax preparation, contract review, etc.”
What Brands and Sponsors Need to Know
On the brand side, not much has changed, so breathe a sigh of relief on this interim policy. We suggest you continue to offer great opportunities to college athletes! However, be cautious of state and University policies that might be unique to that institution. Every state has different NIL laws and information about them is publicly available for review.
An addition we did notice in the interim policy is that brands can now ask the University to promote their content with the Student-Athletes, as long as the brand is paying the going rate for the advertisement. This may lead to more collaborations between brands and the Universities the Students attend.
What Might Happen Next?
This is the 3rd iteration of a “policy” in just under 2 years, and it’s still an interim policy. So, expect more changes! There will be continual learning, and changes will be made when the activity is deemed unfair to the competition. Overall, we’re still waiting for a federal policy, but that may take years to settle on.
Final Thoughts on the New NIL Policy
As with anything in sports and influencer marketing, information is your friend and we recommend reading all of the fine print before moving forward with an NIL deal. At OpenSponsorship, we have seen some incredible NIL deals that make the new program seem very promising for the future.
Continue to pitch ideas and reach out to Student-Athletes - these future superstars are eager and ready to work with brands! If you’d like to search for over 2,000 NIL athletes on OpenSponsorship, click here to create an account for free.