Name, image and likeness (NIL) deals are financial agreements that allow student athletes to receive payments by appearing in product endorsements or other sponsored content or events. Historically, the NCAA had a strict policy of amateurism and forbade students from earning money through such deals. The financial landscape of collegiate sports began to change in 2021, when the Supreme Court ruled in NCAA v. Alston that the NCAA’s rules regarding education-related compensation violated the Sherman Antitrust Act. In response to the ruling, the NCAA changed its bylaws to allow students to receive payments for the use of their “names, images and likenesses” (NIL) in product endorsements and social media activities. The advent of NIL payments provided the first sanctioned compensation of college athletes for their skills and popularity, apart from scholarships.
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