FAQ

Are You Prepared for NIL?

NIL (Name, Image, Likeness) lets you earn money from your personal brand—think $500–$5K for a social media post or $1K–$10K for a local event, per ESPN (2024). Post-2021 NCAA rules allow deals, but you must follow school and state regulations, like reporting contracts over $600. It’s your first step to an athlete wealth mindset.

No, NIL deals won’t void your scholarship if they’re NCAA-compliant. But using school logos without permission or signing banned deals (e.g., gambling in Texas) can risk eligibility, per Investopedia (2025). Check with your school’s compliance office to stay safe.

Most first-year athletes earn $500–$10K for local sponsorships or appearances, though top stars hit $4.7M, per Navigate Research (2022). A basketball player might get $2K for a gym ad. Focus on deals that fit your schedule and brand.

Yes, NIL income faces 20–37% federal taxes plus state rates (e.g., 13.3% in California), per Fidelity (2024). A $10K deal could lose $2K–$4K. Save 25–30% for taxes and work with a fiduciary to avoid penalties hitting 30% of athletes (PwC, 2024).

Not always. States like Texas ban endorsements for alcohol or gambling, per Investopedia (2025). Promoting shady products (e.g., unverified crypto) can hurt your rep. Stick to brands that align with your values, like local businesses.

Multistate taxes can sting. If you earn $5K in another state (e.g., California), you may owe state taxes there (up to 13.3%), even if you live in Florida (0%), per PwC (2024). A fiduciary can plan income to minimize this, saving $500–$1K per deal.

Yes, exclusive or multi-year deals can lock you in, limiting future earnings. A 2023 case saw an athlete lose $10K in opportunities due to a vague contract (NASPA, 2023). Have a sports attorney review terms to protect your NIL financial planning.

Collectives (fan-funded groups) pool money for athlete deals, often $5K–$50K, but they may push agendas or hide fees, per ESPN (2024). Scrutinize their contracts—some take 20–30% cuts. A fiduciary ensures you keep more of your earnings.

Yes, big deals can spark jealousy, like a star’s $50K endorsement causing tension, per NASPA (2023). Choose deals that don’t alienate teammates and maintain an athlete wealth mindset focused on team unity.

Limit deals to 1–2 hours weekly to avoid burnout. A 2023 NASPA study found 25% of athletes dropped deals due to time conflicts. Prioritize high-value, low-time deals (e.g., $1K posts) and use a calendar to stay disciplined.

  • You can trademark your name or logo to protect your brand long-term.
  • You’re a sole proprietor now—technically a business owner. That comes with legal and tax responsibilities.
  • Some NIL deals can hurt your amateur status in international competitions. Yes, even the Olympics.
  • Pressure to sign quickly without reviewing the contract
  • No mention of taxes or reporting
  • Vague promises of “exposure” instead of clear payment terms
  • Agents who ask for money upfront
  • Anyone who tells you, “You don’t need to tell your school”
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