Suddenly allowed to profit from their name, image and likeness (or NIL), college athletes are unleashing a barrage of endorsement deal announcements.
Potentially 460,000 NCAA student-athletes can now sign sponsorship deals. And the profit-making has already begun as college athletes are taking to social media to announce the different types of deals they had signed.
King also paired with Florida State quarterback McKenzie Milton as co-founders on NIL platform Dreamfield, which focuses on booking live events for student athletes. Those are two of the four deals that King has inked since Thursday.
For states without NIL laws, athletes will be able to freely engage in NIL activities, making money off signing autographs, or endorsement deals, but schools and conferences in those states “may choose to adopt their own policies.”
College sports raise billions of dollars from ticket sales, television contracts and merchandise, and supporters of the students say the players are being exploited and barred from the opportunity to monetize their talents.
In 2016, for example, the NCAA negotiated an eight-year extension of its broadcasting rights to March Madness, worth $1.1 billion annually.