NIL stands for name, image and likeness. NIL money refers to the funds that student-athletes earn from their name, image and likeness. Any student-athlete in NCAA Division I, II and III has to sign NIL deals; they’re legally permitted. This is different from who actually gets it; that depends on their sport, gender and social media presence. High-profile football and basketball players will get more money than others. I have an opinion on all of this; read this to see it at the bottom!
How do athletes make money?Â
Through numerous ways. They can do brand sponsorships, social media posts, commercials, appearances, merchandise, etc. They’re influencers, just as a side job. There is no salary; some make little or nothing, while others make millions.
Why is there a difference between the amount they get?Â
Marketability. An extremely successful college athlete with a large following who is performing well will get more money than someone who doesn’t have the same audience. This is why college football players get the most NIL money; we watch them every Saturday. It creates unequal opportunities.
The psychological effect
Obviously, we love getting paid, but being paid for your image ups the pressure. That pressure weighs heavily on athletes. It can contribute to stress and anxiety. There is also pressure from social media. Comparisons in money and performance are very common among college athletes. Their individual identities become mixed with their brand.Â
Money can help athletesÂ
This money is not always bad. There are benefits like less financial stress, professional connections, motivation, etc. This money can relieve a burden for a lot of athletes and make sure all their needs are met.Â
What I think
I’ve laid it all out, and I have an opinion on this. One big problem that I have is that these football players, especially, are making millions of dollars in a year. I believe they should get paid, but paying them to play football does not prepare some for the world outside of college. Just saw that Arch Manning makes 5 million off of NIL. Granted, he’s a Manning, but still there is no reason to be giving 18- 22-year-olds that much money. This is why college athletes want extra years. They get a tremendous amount of money for playing a game. The money they are given changes the way they think about their sport. It turns into: do they actually love it, or are they doing it because they don’t want to disappoint? This money can also cause jealousy and huge comparisons to people making more than them. Furthermore, it can affect academics, recruitment and make college sports feel too professional. I try to understand why this is a good thing, but I paid a $250 athletic fee this year. From all the students, we have roughly 26,000; that comes out to $6,511,500 per year in athletic fees. I know good things can come out of NIL for athletes, but it has gotten so out of hand. Money drives certain people, making college choices and transfers off of it. Where is the loyalty? I promise I’m not being a hater; I love watching our crazy paid athletes here at WVU. I don’t think the problem is NIL; I think it is what it has become in these past years.