NIL is Keeping College Athletes in College

On Monday, University of Michigan star football running back Blake Corum announced that he would return to Michigan for his senior season despite rumors that he would declare for the 2023 NFL Draft. While it is clear Corum is determined to have one last season and a chance at a national championship, another aspect keeping him in college: NIL. With an On3 NIL valuation of $881,000 (which was over $1 million prior to a season-ending injury), it is clear someone like Blake Corum will not face financial burden for playing an additional season. 

Is NIL keeping student-athletes in college longer? Before college athletes could profit off their names, images, and likenesses, athletes were expected to either continue their sport post-graduate or find a different career. However, since student-athletes can now cultivate and utilize their brand to create profit, certain athletes find themselves making great money prior to any talks of a professional career.

According to On3’s NIL valuations, high school and college athletes who play football or men’s basketball earn an average of more than $28,000. This is based on an analysis of the NIL market value of nearly 12,000 athletes who are in the On3 database. Although the On3 database primarily looks at three, four, and five star recruits and tends to heavily illustrate men’s basketball and football players, these NIL statistics reveal that this sector of athletes are making a great deal of money in college before considering going professional. 

According to the Business of College Sports, the average value of all NIL transactions is $1,815, with a median value of all NIL transactions of $53. This means that half the collegiate athletes fall below that $53 mark. However, if we are viewing the Blake Corums of the college sports world, it is clear that the great deal of money made in college takes away the pressure of wanting to sign a professional contract as soon as possible. 

How will this impact the recruitment of college athletes, specifically in men’s and women’s basketball and football? Hypothetically, without taking the transfer portal chaos into account, knowing that some of these star athletes will have more of an incentive to stay in college longer to develop their careers and have a cushion of NIL income is likely comforting for college coaches. However, knowing that there is not as much of a gamble involved and rush to go professional the moment they know they can will keep those older athletes playing their sport in college – and potentially taking the place of younger athletes who want to demonstrate their ability. 

Just look at University of Kentucky’s Oscar Tshiebwe and Gonzaga’s Drew Timme. Both basketball players are reportedly making seven figures through their NIL deals. Being massive stars at their respective universities, these players are being welcomed back with open arms instead of going to the NBA, despite being 22 and 23 years old.

This type of instance will not be an isolated occurrence. With the great influx of money that these high-caliber players are making in the NIL age, we will start to see more and more big names returning to their sport to make use of every last bit of eligibility possible.

To learn more about how NIL is keeping College Athletes in College, check out the CleanKonnect NIL Certification Course.