ATLANTA--(BUSINESS WIRE)--Exactly a year ago, college athletes across the country finally gained the right to make money off their names, images, and likeness (NIL), thanks to the changes to NCAA’s policy and a number of state laws now allowing it. Almost immediately, some college athletes began to rack up five or six figure deals. This was followed by some others making off with lavish perks such as gift cards, free products, or smaller cash payouts.
Despite the changes made a year ago and a month from the start of the 2022 NCAA college football season, many things remain unknown.
Brian Wedding, CEO of RoofClaim.com, met with Lane Kiffin, head coach of the University of Mississippi, to understand how this would affect college athletes and corporate sponsorships. Kiffin stated, “Name, Image, Likeness is really just the players' rights… so that someone like [a corporation] who wants to get involved with a player can sponsor them and in return have the right to use them in their [branding].” Kiffin went on to say, “These schools and coaches were making all of this money… and the players were not getting any of the action.”
As with anything radically different that has a Rolodex of unknowns and uncertainties, these new changes have opened the possibilities of so much in the world of college athletes and corporate partnerships. Wedding asked, “Can we expect one day, these players will have [companies] plastered on the back of their jerseys?” “Maybe someday,” Kiffin said. He continued on to say, “Right now they are not, due to the licensing agreements… but maybe eventually they will look like NASCAR and their whole jersey will be that way. RoofClaim will be everywhere.”
Despite the apparent clarity of these changes on paper, there is plenty of anticipation around the different logistical challenges to come. For example, Kiffin stated that colleges are already putting parameters in place around for what is called "pay-for-play," where college athletes are getting paid for doing nothing other than going to a certain school.
This is still the beginning and student-athletes, colleges and brands alike are all trying to figure out how they fit in the puzzle. This could have a significant impact on the future of corporate and student-athlete partnerships. Let’s hope it’s a touchdown!
