You may have heard the phrase NIL in stories about college sports lately, It’s a fitting acronym, because it reflects what college athletes have been paid the past 70 years or so while college coaches, administrators, presidents and the NCAA have divvied up a fortune; nil.
That’s about to change in a big way. College athletes are starting to reap the benefits of the Supreme Court’s decision to allow college athletes to profit on their name, image and likeness.
That means there is nothing stopping kids in college from making thousands, or even millions monetizing their social media followings and fame.
Master P’s son Hercy is a freshman basketball player at Tennessee State. He signed a 2 million endorsement deal with Web Apps America, which means he’ll be paid roughly 10 times more than his coach.
Olivia Dunne is a gymnast for LSU with 4 million tie Tok followers. She will be able to sign a multi-million dollar endorsement deal too,
While it opens a whole new opportunity for athletes and will change college sports forever, it’s important the kids get some solid advice as they start banking the payments because they will be responsible for the taxes on every penny earned.