Episode 44: Will NIL Translate Into New Income and Wealth for Young Athletes?
Oct 26, 2023
In 2021, the U.S. Supreme Court ruled that college athletes could in fact be compensated for their name, image, and likeness (“NIL”), rendering moot the idea of their amateur status as unpaid gig workers. It was a landmark decision that already has changed college sport and, some say, will impact financial planning and wealth creation.
Here are just a handful of the things that we'll discuss:
- NIL is already a billion dollar business and is expected to grow much larger.
- The NCAA is deferring to states regarding the establishment of rules and regulations about NIL and compliance thereof. Sports associations and individual schools have also become involved in NIL.
- The financial planning industry sees opportunities to help young people navigate and manage new-found wealth and income from high school, college, and beyond.
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