Opendorse's NIL Report, Parker Valby's Nike Contract, and International Student-Athletes Fight for NIL Rights | Newsletter #251
Welcome to the NIL Newsletter by Optimum Sports Consulting - providing valuable, actionable NIL resources for athletes, administrators, agencies and other sport professionals.
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This Monday Newsletter includes:
1. Opendorse’s NIL Report
2. Explaining Parker Valby’s Nike Contract
3. What’s coming up in the world of NIL
4. Legal Updates: International Student-Athletes Continue to Fight for NIL Rights
5. News/tips for administrators and student athletes
Major News
Opendorse Released Their Yearly NIL Report
It is not a secret that football is the revenue generator most schools rely on to keep their other programs afloat.
Opendorse’s NIL report takes a look at where the money is being allocated from the different collectives around the country.
According to the report, 72.2 percent of this money goes to football players, 21.2 percent is given to men's basketball players, and baseball and women's basketball players account for just 5.9 percent.
Football players received 76.6 percent of commercial NIL dollars.
CLICK HERE to learn more.
Why Parker Valby Still Races in her Florida Uniform
Six-time NCAA champion Parker Valby signed an NIL deal with Nike last summer. This summer, after leaving Florida, turning pro, and running in the Olympic Trials, she is still wearing her Florida kit.
Although NIL deals normally end when the athlete leaves college, sources familiar with Valby’s situation say language in her NIL contract gives Nike the right to match offers from any other brands for her pro deal.
These clauses give an NIL brand first dibs on an athlete’s pro contract and are increasingly common with distance runners.
Companies are giving the best distance runners NIL deals with the expectation that they’ll get the first crack at signing them when they go pro, and many are not using athlete NIL as marketing while they are in college.
If brands aren’t using college athletes’ images for marketing, it would seem the primary reason they’re signing them to NIL deals is to get a jump on them for their pro careers.
CLICK HERE to learn more.
Other Notable Stories to Follow
Opendorse estimates that total NIL compensation for the 2024-25 season will hit $1.67 billion, a $917 million increase since NIL’s inception in 2021 - LINK
Quincy Wilson, who signed an NIL deal with New Balance at 15-years-old, became the youngest male to ever make the United States Olympic track team - LINK
A University of Mississippi professor led a team on a study about NIL policy issues. Read their findings HERE.
BYU has been having conversations with its official collective on potential changes they need to make following the House settlement - LINK
What’s Coming Up Next For NIL
Mid July, 2024 | Florida State Board of Education vote to ratify NIL bylaw change
July 19th, 2024 | EA College Football 2025 release
Legal Updates
International Student-Athletes Continue to Fight for Their Right to Earn NIL
International college athletes cannot receive money from NIL deals because of visa restrictions. Students choosing to study in the U.S. require F-1 visas, which allow them to study and live abroad but prevent them from participating in NIL deals.
Basketball star Zach Edey made headlines last season for talking about how his visa restricts his ability to earn money via NIL deals.
According to the NCAA, there are more than 25,000 international student-athletes across all three divisions.
Senator Pete Ricketts of Nebraska introduced a bill in October 2023 to Congress that would allow athletes to sign endorsement contracts for the commercial use of their NILs through their F1 visas and employment authorizations.
Politicians, coaches, and athletic departments alike are continuing to fight for international student-athletes right to access NIL deals.
CLICK HERE to learn more.
Optimum Sports Consulting is here to help.
For athletes looking for NIL insight and advisement, administrators and collectives looking for resources and facilitating a best-in class process, or agents looking to navigate the changing landscape, we’re here to help!
Message us now for a free consultation.
FOR ATHLETES
Notes for the Week
Arkansas QB, Taylor Green, signed an NIL deal with Fletcher Auto Group for a new truck - LINK
Cormani McClain inks his first NIL deal after transferring to the University of Florida - LINK
UConn Women’s Basketball star, Paige Bueckers, was named the top-earning female athlete on the NIL Store platform for the 2023-24 academic year - LINK
FSU football quarterback commit signs NIL deal with Leaf Trading Cards - LINK
Tip of the Week: Budget your NIL earnings.
When a reputable deal does go through, you can get paid. That’s when you have to start thinking about the future. Assuming you're not Bronny James or another top earner, expect deals to be sporadic with varied pay. Even for those able to earn six or seven figures, classic financial concepts still apply. While you’re finding room for savings, keep the IRS in mind, too. The good thing about a regular day job is employers typically withhold taxes from your check — so you don’t have to do the math later. That may not be the case with NIL deals. Typically in those agreements, the responsibility for paying taxes is passed to the student athlete. Depending on your earnings, you may need to pay self-employment tax and make quarterly estimated tax payments to avoid a big bill come April.
FOR ADMINS
Notes for the Week
UConn’s Werth Institute for Entrepreneurship and Innovation hosts a course on empowering student-athletes in NIL ventures, supporting their student-athletes’ personal ventures and helping them be better equipped for life in the spotlight - LINK
The Northwest Missouri State University athletic department has announced a partnership with Influxer, providing their student-athletes the opportunity to monetize their NIL, where each student-athlete from every team will have the opportunity to create his or her own webpage that showcases their personalized gear available for purchase- LINK
Tip of the Week: The Importance of Financial Literacy for Student-Athletes
Aaron Ryan, president of NorthRock X, a financial and lifestyle advisory firm, spoke on the need for student-athletes to be financially literate:
“More responsibility falls on schools, especially now that we’re talking about distributing in some cases $20-30 million on a single campus. Yes, they do have a responsibility to increase their role, and part of that role is partnering with experts who deliver these services like NorthRock X. These partnerships not only provide tangible, practical education, but also are prepared to directly service the athlete. Now that these athletes are effectively [potential] employees, there’s new responsibility. So it’s increasing. And the leaders in the space, whether it’s at the conference level or at the university level, are really diving into this right now and taking it very seriously. There’s going to be some really amazing programs and leadership that come out of the next year and a half that will change the game forever.”
Thanks for Reading!
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