Tips for Athletes Before Signing with Platforms, Agencies, and Brands

brand high school nameimagelikeness nil student-athlete May 06, 2023

Tips for Athletes Before Signing with Platforms, Agencies, and Brands:

One thing has been clear during the first six months of NIL – high school and college have been eager to engage in deals with brands directly or platforms that facilitate connections between brands and athletes.

We encourage every athlete who is NIL eligible to thoughtfully lean into NIL activity while not jeopardizing your performance in the classroom and on the field (this will make you the most marketable).

Below are a few items every athlete should understand from conversations with platforms (like CleanKonnect), agencies, and brands.

What is the revenue share of any given deal between the platform and you the athlete?
How can the platform use your name, image, and likeness to promote its own brand?
What will you the athlete be classified as when you get paid? An independent contractor? An employee? Something else? There are real tax implications associated with how you choose to earn this income.
If other athletes join because of your referral, do you share in any financial upside?
What reporting will they provide to you about the deals you did so you can share with your athletic department’s compliance team?
Is there exclusivity that would preclude you from engaging with other platforms or brands in that category?
How are they truly putting your well-being as a student deal above short-term deals and revenue?

Tips for Athletes:

If you as an athlete have difficulty answering any of these questions with confidence, then we highly recommend you connect with your school’s athletic department for any contract reviews or other support. Be thoughtful before signing any of these complicated agreements – the short-term revenue you may collect from joining a platform may not be worth the long-term repercussions of something you didn’t understand in the agreement you signed!

To learn more about Tips for Athletes regarding NIL, check out the CleanKonnect NIL Certification Course.