It has been one year since groundbreaking changes in college sports freed student-athletes to commercialize and sell rights to their name, image, and likeness (“NIL”). During that time, Foley’s Sports & Entertainment Group’s multi-disciplinary College Sports/NIL Task Force has been actively engaged in advising various stakeholders through their emergent needs. In this installment of Foley’s “Business of Sports” series, Foley task force members, Jon Israel and Greg Marino, lead a 1.5 hour program on year 1 of the NIL era. They provided an overview of the current legal landscape by dissecting the NIL lifecycle of a hypothetical student-athlete – from high school through the completion of a college playing career – and, via this story, reviewed meaningful developments and elicited practical frontline insights and perspectives from their special guests Morgan Frazier, Javier Peral II, and Drew Butler.
The discussion covered:
- The legal landscape now in place, including state NIL laws and NCAA rules and recent guidance
- The various stakeholders, including schools, student-athletes, agents, sponsors, and collectives
- The rise of collectives, including their impact now and in the future
- The NCAA, including what it has done and what it might do
- An assessment of year 1 of the NIL era, and where things may be headed