#NILakers
What is NIL?
Name, Image and Likeness (NIL) is a term that describes the means through which college athletes are allowed to receive financial compensation. NIL refers to the use of an athlete’s name, image, and likeness through marketing and promotional endeavors.
NIL Can Include:
- Autograph signings
- Product endorsements
- Social media posts
- Hosting camps & clinics
- Appearances
- Promoting your own business
- Performing at bars, restaurants, and other venues
- Promoting a Non-Profit
Types of Compensation
- Cash
- Lump sum
- percentage of income
- Credits or Discounts for a product or service
- Products, gear, equipment
- Brand affiliation - which may not equate to a dollar amount but still has value, ie. when you give your time and promotion to a non-profit