Lastly, the NCAA has recently created a minimal level of requirements for basketball agents that are interested in representing student-athletes who may be considering entering the NBA draft, but such rules apply to only a narrow group of individuals and an even smaller group of athletes.
As discussed earlier, due to the sheer number of student athletes, this means the NCAA will likely have to certify and monitor thousands of third-party representatives across dozens of sports — a daunting task. Since there is no employment contract for agents representing student-athletes to negotiate at least not yet , all of their earnings will come from the off-the-court and field opportunities they generate for student-athletes.
Moreover, it is likely that many agents and agencies may attempt to sign a large swath of student athletes in the hopes of doing deals in bulk. That being said, with the advent of marketplaces like Opendorse, many student athletes will likely choose to seek deals themselves without being forced to pay a substantial percentage of their compensation as commission.
Whether through a sports-agent, marketplace, or any other mechanism, any fees a student-athlete must pay to third-parties will have to be tracked. The sports marketing industry will soon undergo the single most dramatic change in its history, when college athletes are finally granted the right to monetize their Name, Image and Likeness.
The mission of Student Athlete NIL is to help brands seize this opportunity and capture the attention of student-athletes, identify the ones that best personify their values,.
Will every student-athlete be represented by an agent under NIL? How will the licensing and regulation of agents work? The news follows a June 21 Supreme Court ruling that NCAA restrictions on "education-related benefits," such as tutoring or scholarships, for college athletes violate antitrust law.
The unanimous decision means the NCAA cannot bar relatively modest payments to student-athletes and raises questions about the legality of not paying athletes for their participation in sports.
Kavanaugh in the concurring opinion. And under ordinary principles of antitrust law, it is not evident why college sports should be any different. The NCAA is not above the law.
In response to the ruling, the NCAA released the following statement : "While today's decision preserves the lower court ruling, it also reaffirms the NCAA's authority to adopt reasonable rules and repeatedly notes that the NCAA remains free to articulate what are and are not truly educational benefits, consistent with the NCAA's mission to support student-athletes. Amy Privette Perko, a former college athlete and the current CEO of the Knight Commission on Intercollegiate Athletics, an independent think tank focused on athlete education, health, safety and success, emphasizes that the Supreme Court ruling is fairly narrow in focus.
And with the Supreme Court ruling, it only adds to that in terms of shifting power and economic rights to the athletes. Mann says he is still skeptical that the change will result in a "financial windfall" for student athletes. And even those talented few who do make it are not guaranteed to become millionaires.
The average NFL career is just over three years and a study showed most players go broke within three years of retirement. Some of the athletes with the largest social media followings are female and in sports like volleyball and gymnastics, where a well-paid professional career is incredibly rare. But under the old rules the athletes were not allowed to join other social media influencers and endorse products to their hundreds of thousands of followers.
The NCAA long argued that any compensation of its athletes would undermine the foundation of college athletics, one that supposedly prioritized education. But the facade of the NCAA as an educational institution cracked once it signed multi-year, billion-dollar television contracts and football coaches became the highest-paid employees in the state. Tuberville voiced concern that the NCAA would become a de-facto minor league for the NFL and that smaller schools would no longer be able to sign talented high school players.
In addition, the players would need a powerful union to negotiate any revenue sharing agreement. And guess what?
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