Things are about to change dramatically for Clemson football players in terms of their ability to capitalize on their name, image and likeness.
Eight states across the country are expected to have NIL bills come into effect in July and the NCAA was put in its place in a unanimous defeat in the United States Supreme Court which essentially ruled that “amateurism was dead”.
The state of South Carolina has signed an NIL bill that is expected to come into effect in July 2022, but that doesn’t mean Clemson football players will have to wait that long to benefit from it.
As a result of the pressure, the NCAA adopted an “interim policy” that “will suspend amateurism rules relating to name, image and likeness.” This policy will be adopted by the NCAA Division 1 board of directors on Wednesday, just one day before each state’s policies come into effect.
According to the Washington Post reports, here’s a look at what the interim policy will allow:
- College athletes may engage in NIL activities that comply with the law of the state where the school is located. Colleges and universities are responsible for determining whether these activities comply with state law.
- Student-athletes attending a school in a state without an NIL law can engage in this type of activity without breaking NCAA name, image, and likeness rules.
- College athletes can use a professional service provider for NIL activities.
The policy states that athletes are required to report their NIL activities to their school and that the policy still prohibits “pay to play” and “inappropriate inducements related to choosing to attend a particular school”.
What does the new NIL policy mean for Clemson football players?
In short, the new NIL policy means that Clemson players – and college athletes across the country, regardless of sport or location, for that matter – can make money based on their name, location. their image and likeness.
Some examples of what this can entail:
- Businesses could pay athlete for ‘social media scream’
- Athlete could generate income from social media subscribers (i.e. Youtube or TikTok) due to their own creative content
- A business could pay for an athlete to sponsor their product in traditional forms of advertising (e.g. billboard, television advertising)
- Perhaps the return of the NCAA Football video game franchise could earn athletes money for their likeness in the game.
There are a plethora of ways that athletes could potentially make money through NIL, but the important thing to remember here is that it’s not * technically * paying them to play football or basketball or baseball or volleyball, etc. Of course, we all know that the athletes have their platform – in most cases – because of the sport they play.
Athletes will be able to hire professional agencies to help them manage these LULL opportunities.
An interesting part that not many people have talked about is the fact that college athletes who benefit from NIL will now have to pay taxes on their profits. There is no doubt that the IRS is going to be keeping its eyes on this new development and that means student-athletes need to be careful with the documentation so that they don’t face tax issues in the future.
In all of this, the NCAA has shifted the responsibility back to individual athletes and their schools. This means that, unless something changes, there will be very little oversight by the organization to control it, which could lead to issues down the road as well.
Then yes. In short, Clemson football players and athletes across the country can now earn money with their NIL. In the long run, this is a complex question when many open questions have yet to be answered.
Ready or not, welcome to the new world of varsity athletics.