Thanks to multiple negotiations around the country between league officials, teams, players, and legislators, all NCAA players can now earn money from a range of commercial activities without losing their eligibility. This is the first time football college athletes can capitalize on all their activities.
All persons have the right to sell the use of their name, image, and likeness (referred to as “NIL”). However, as a condition of signing their scholarship agreements, college athletes gave up those rights.
Beginning on July 1st, as Texas Gov. Greg Abbott signed the Texas bill into law, all Texas college athletes are allowed to be rewarded for the use of their NIL.
Texas is the biggest state for football. Texans love their college teams and adore their players. Brands and companies will definitely capitalize on this opportunity to use athletes for their ads. The greatest stars in college football in Texas will now be able to use their fame to sign deals worth hundreds of thousands of dollars, if not more, such as NFL or NBA players.
For example, had he been able to profit from his NIL, former Texas quarterback Sam Ehlinger was expected to make just under a million dollars last season. The Longhorn star was drafted in the 6th round of this year’s NFL draft by the Indianapolis Colts. Some universities of Texas have already begun making deals with these new rules.
This is also a great chance for other Texas Longhorns or Aggies athletes who perform all sorts of other activities, in addition to football, and have built a massive social media presence. Players who have podcasts can now get paid for ads. It’s also an opportunity for athletes who play video games to earn money by streaming their games, something that has become more and more common in the world of sports.
In order to help athletes, and the new commercial attention they will be receiving, the University of Texas A&M has launched the AMPLIFY program, which provides resources and education on personal branding and brand management, business creation and entrepreneurship, opportunity management, and financial literacy to student-athletes. Similarly, the University of Texas launched its LEVERAGE program in August 2020, which is composed of four main areas of focus: Personal Branding & Brand Management, Business Formation & Entrepreneurship, Opportunity Management, and Financial Literacy.