What are NCAA college basketball’s new Name, Image, Likeness Rules?
NCAA college basketball enters a new era this season with the all-new Name, Image, Likeness Rules (NIL). The NIL rules are set to change college basketball – and college sports – as players can receive money for the first time (officially).
College athletes are already reaping the rewards of the new rules and some basketball players could leave university without going professional with a nice nest egg to build their lives on. In the past, everyone else was making money off of NCAA basketball stars. Now, those basketball players are going to get their share of money. If you are looking to get a share of the best betting odds and latest NY Sportsbooks offers, then act fast to wager on the opening of the NCAA basketball season.
What are the NIL Rules for college basketball?
The NCAA basketball landscape changed from the moment the NIL rules took effect. The rule change now allows NCAA athletes to engage in NIL activities as long as they comply with state laws. Athletes are able to use professional service providers and representatives to help them navigate NIL issues.
College athletes playing in states that do not have any NIL laws many engage in paid activities without violating the NCAA’s rules. States, colleges, and athletic conferences can impose requirements for basketball players to report their NIL earnings.
Some college basketball players – and athletes in other sports – have already inked deals with gyms, restaurants, automobile, and even pet care companies. There is likely to be a pay gap depending on which sports athletes play. For example, a North Carolina Tar Heel basketball player is likely to earn considerably more than a Missouri State soccer player – if the soccer player from MSU is able to sign an NIL deal at all.
How are the new NIL Rules changing the game of basketball?
Twenty years ago, Nebraska Cornhuskers quarterback Eric Crouch – who won the Heisman Trophy – was suspended by the NCAA for excepting a sandwich and plane trip to make a public appearance. The sandwich and plane ride were valued at less than $25.
Now, football, basketball, and other college sports athletes are able to make money far greater than $25 without punishment. Alabama quarterback Bryce Young signed multiple endorsement contracts valued at nearly $1 million. Tennessee State basketball player – yes, Tennessee State – Hercy Miller – is only an incoming freshman basketball player in 2021. Yet, he has inked a $2m endorsement deal. It helps that Miller is the son of rapper Master P.
Not to be outdone, Kentucky Wildcats player Tyty Washington has signed an endorsement with Porsche. Washington will not only drive a Porsche around the school’s Lexington campus, but he will earn a tidy sum of cash. The Kentucky point guard is expected to go in the first round of the NBA and the NIL rules give Porsche the chance to work with the player sooner rather than later, when his price for endorsement becomes higher.
NIL Rules are set to change college basketball for the future. It gives high school players more of an incentive to strive for the big time and it could keep college players in school longer, rather than entering the NBA Draft.
