NIL Contract Considerations: EXCLUSIVITY Note From NIL Network: NIL Contracts have quickly become a top concern in the name, image, and likeness industry. While representation can be super beneficial for time-strapped college athletes and we want to believe that MOST NIL reps have the athletes best interests in mind, there are definitely opportunists taking advantage of these 18-22 year olds. One of the biggest considerations, given the novelty of the NIL industry, is whether it’s appropriate for a college athlete to sign an exclusive NIL contract and if so, when and why it would make sense. Read on for insights from Sports Agent, Tay Hawker. Tay Hawker CEO, Hawker Family Sports & Entertainment Name, Image & Likeness (NIL) legislation has opened a new world of opportunities to Student-Athletes. However with that, comes great responsibility: Many businesses are sending athletes an initial NIL contract that is at best, severely one-sided, and at worst, taking all the athlete’s NIL rights FOREVER.As Chief Executive Officer and licensed sports agent with Hawker Family Sports & Entertainment, I have seen a plethora of atrocious NIL contracts come across my desk, and met with many brands that didn’t quite understand this space. Unfortunately, collegiate athletes are putting themselves at risk by blindly signing NIL contracts without thoroughly understanding what they’re agreeing to.This article looks to educate athletes on when or when not to sign exclusive NIL contracts with agencies, brands, businesses etc. Why WOULD You Consider Signing an Exclusive NIL Contract?The Company You’re Signing With Encompasses ALL Of Your NeedsAt the end of the day, as a college athlete there are a broad range of opportunities that are available to you with the recent passing of NIL legislation. With your possibilities being endless, this means you need to work with a team that can fulfill them. For example, the only time you should be considering exclusive NIL contracts with representation would be when you ensure they are the people that can do it all. You should take some time to take stock of what you want to achieve in this new space and identify the resources that the particular agency is excelling in. If they do not match your entire list of goals, do not sign an exclusivity agreement. The NIL Contract Includes A Fair And Mutual Termination ClauseAs a college athlete, you should never sign anything that doesn’t have a bilateral termination clause. This means you could be signing yourself away for a long period of time. Firstly ensure that anything you sign in college doesn’t extend past your eligibility, and ensure you have the ability to leave. The only time you should sign any NIL contract with exclusivity as a college athlete is if you are able to walk away from this relationship if you feel as though it is not serving completely. You Feel ComfortableFinding an agent is similar to finding a good therapist. It has to be a good fit, both ways. Not everyone is going to be a perfect fit for an agent/client …
