New Rules for Student-Athletes: Earning from NIL and Protecting Rights
This act establishes a new government corporation to oversee student-athlete agreements regarding their name, image, and likeness (NIL) and agent relationships. It aims to provide student-athletes with more freedom to profit from their NIL while ensuring transparency and protection against unfair practices. Crucially, student-athletes will not be considered employees of their institutions.
Key points
Student-athletes can profit from their name, image, and likeness through agreements with third parties.
A new government corporation, the National Intercollegiate Compensation Corporation, will register and oversee athlete agents and third-party licensees.
Colleges and athletic associations cannot penalize student-athletes for entering into NIL agreements, unless they violate conduct codes or specific legal provisions.
Agent contracts and NIL agreements are limited to a 5-year term and must allow for penalty-free termination by either party.
The act clarifies that student-athletes are not considered employees of intercollegiate athletic associations, conferences, or institutions.
This federal law will override any state laws or regulations concerning student-athlete compensation, publicity rights, or employment status.
Status:
Expired
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