Happy Third Birthday to NIL

July 1, 2024, marked the third anniversary of Name, Image, and Likeness (NIL) opportunities becoming permissible in college sports. The landscape has evolved dramatically over the past three years, with the rise of Collectives, varying progressive state laws, and significant legal settlements shaping the NIL environment. You can learn more about the NIL market in the last three years in our analysis of Opendorse's third annual NIL report

As we celebrate, let’s take a look back at the top 10 NIL headlines from the past 12 months (July 2023 - June 2024):

10. Shedeur Sanders' Major NIL Deals (November 2023)

Shedeur Sanders, the Colorado Buffaloes quarterback, secured several substantial NIL deals during the 2023 season, making him one of the highest NIL earners. His partnerships include Brady Brands, Beats by Dre, Nike, Mercedes-Benz, and Smoothie King, with an On3 valuation of $3.8 million. These deals highlight the significant NIL opportunities available to top athletes in the sports spotlight.

9. Olivia Dunne's Livvy Fund (July 2023)

LSU gymnast Olivia Dunne launched "The Livvy Fund" to support female athletes at LSU in securing NIL opportunities. This initiative aims to make NIL opportunities equitable for female athletes. Dunne, the nation’s No. 3 NIL earner, demonstrates the potential for female athletes to thrive in the NIL market.

8. NIL's Influence on Recruitment Choices (July 2024)

A survey revealed that over 50% of top high school football recruits would consider attending a less desirable school for a higher NIL payday, illustrating the significant influence of NIL on college athletics. Coaches now face the challenge of re-recruiting their players to keep them out of the transfer portal and away from brighter NIL opportunities.

7. Arch Manning's High Valuation (December 2023)

University of Texas quarterback Arch Manning made headlines with an NIL valuation of $3.2 million, despite not having played significant college football yet. His partnerships with brands like Panini America showcase the lucrative potential for highly anticipated athletes.

6. Rise of NIL Collectives (February-May 2024)

The first quarter of 2024 saw a surge in new NIL collectives, with more universities forming these groups to pool resources and provide athletes with better opportunities. These collectives have become instrumental in managing NIL deals.

5. Charlie Baker's Proposal (December 2023)

NCAA President Charlie Baker proposed significant NIL policy changes, including giving schools more latitude to support their student-athletes and be directly involved in NIL licensing programs. The proposal aimed to bring more transparency and fairness to NIL agreements.

4. Great Osobor's Historic NIL Deal (May 2024)

Great Osobor received the highest-known NIL guarantee in college basketball history, with a reported $2 million in NIL opportunities to transfer from Utah State to Washington. Great Osobor's $2 million NIL deal illustrates the lucrative potential for top returning players and transfer recruits.

3. EA Sports NIL Deal (February 2024)

EA Sports and NIL have reached a landmark agreement to include college athletes in its NCAA Football 2025 video game. Players who opt in receive a minimum compensation of $600 and a free copy of the game. Over 10,000 players have opted in, representing a major shift in how video game companies can incorporate real athletes.

2. Jaden Rashada's NIL Lawsuit (May 2024)

Georgia quarterback Jaden Rashada filed a lawsuit against the University of Florida head coach and a prominent booster over a defaulted $13.85 million agreement. This case highlights the complexities and potential legal challenges of NIL deals.

1. House v. NCAA Settlement (May 2024)

The NCAA agreed to pay $2.8 billion to current and former student-athletes in a historic settlement. This agreement, covering over 14,000 athletes, compensates for lost endorsement opportunities and media revenue, setting a precedent for future NIL cases.

These top 10 NIL headlines showcase the dynamic and evolving NIL landscape in college sports, reflecting significant strides made over the past year and setting the stage for even more transformative changes in the years to come, especially as revenue sharing with athletes will commence in 2025.