How can I get a NIL deal?

How can I get a NIL deal?

Thanks to new state laws and the NCAA policy changes, student-athletes now have the right to earn from their NIL (Name, Image, and Likeness). But with this new opportunity comes many questions, such as “How can I get a NIL deal?” At Dub Sports & Entertainment, we understand the confusion and uncertainty around NIL, which is why we created our blog “What is a NIL deal?” to provide all the information you need to know about this new law. Learn what NIL is, who it impacts, and gain valuable advice on how to land your first NIL deal.

Some student athletes are earning millions of dollars per year thanks to the new NIL law. For example, have you heard about Haley and Hanna Cavinder, twin sisters and basketball players, who were the first college athletes to sign a deal with Boost Mobile? Since then, they have signed various, lucrative partnerships. 

ON A BILLBOARD IN TIME SQUARE 😭 WHAT IS LIFE… blessed❤️ pic.twitter.com/ZyA4Uim5zB

— Hanna Cavinder (@CavinderHanna) July 1, 2021

Do you want to land your first NIL deal but don’t know where to begin? Take these 5 crucial steps to increase your chances of getting partnerships and securing a profitable future. Read on to find out!

1) Define your how, what, why, and who

Before creating your personal brand, you’ll need to ask yourself some questions. What makes you stand out from the rest? Is your personal brand unique and recognizable? How can you define yourself off the field, and what are your how, what, why and who? You need to start thinking about how you’re planning to use your platform. Make sure to positively promote yourself and the brand that you’re interested in. And most importantly: be authentic and be yourself.

We all have a ‘why’, a reason why we do what we do. Why do you put so much effort and time into perfecting your craft, and playing sports at a high level? Why are you so motivated and passionate about your sports? The brands you would like to work with, should be the ones whose values and morals align with yours. How you define your ‘why’ will determine why you are the way you are and why you do what you do. Finally, make sure to define who you are. Keep your priorities straight; you are a student-athlete, but also understand your personal brand as a whole: the brand that exists both on and off the field.

2) Clean up personal social media accounts and put yourself out there

It’s important for brands to find you and to let them know you are open to opportunities. Also, make sure to consistently post content on your social media. Brands are looking at different things when evaluating with whom they would like to collaborate. They may look at post frequency, amount of followers, and engagement. By posting content consistently, it will also make it easier to increase your amount of followers. Make sure to post high quality content, and to share content that matches with who you are and what is important to you. Tell people what you are interested in and what motivates you. Also, you should not be afraid to show who you are outside of your sports. Remember that you don’t need 10K followers to make money. Sometimes smaller audiences are more valuable. Don’t be afraid to ask and put yourself out there.

3) Research the NIL laws in your state and school

Student-athletes and brands are currently navigating the uncharted territory of NIL, trying to determine the permissible actions and restrictions. For now, the NCAA states athletes should follow the NIL rules in place in their states, leaving it to their schools to police the activity. In states without a NIL law, athletes don’t have to worry about their eligibility. Schools located in a state without a NIL law are responsible for making and enforcing their own policy.

Athletes can’t accept any type of deal as schools have restricted classes of companies such as tobacco and alcohol. Additionally, exclusive partners of the college may prevent students from signing deals. Also, don’t take deals just to take them. If you accept one deal, it’s crucial to be aware that it could potentially result in losing out on other lucrative offers. This is because certain contracts might contain exclusivity clauses, which prohibit athletes from promoting similar products or services from competing brands. As a result, it’s essential to carefully consider all potential contracts and ensure that the terms align with your long-term goals and interests before accepting any deals.

4) Make it known to your athletic director and school about your intentions and look for platforms

When athletes enter into an NIL agreement, it’s crucial to maintain open communication with their athletic director and school administration. Athletes should immediately inform them about any potential deals they have secured, including details on the specific brands or products involved.

This step is essential to ensure that the school can confirm whether the brand or product is included in any restricted classes or conflicts with any exclusive sponsors. Failure to do so could result in serious consequences, including loss of scholarships or eligibility to compete. By working together with school officials and being transparent about NIL deals, athletes can help ensure compliance with school policies and avoid potential conflicts that could harm their careers. Don’t hesitate to reach out and seek guidance from your athletic director and school administrators as you navigate the world of NIL deals.

Also, start looking for platforms that connect athletes, celebrities, and social influencers with brands. Playbooked is an online platform that athletes and their parents use to connect to NIL opportunities. If you’re a student-athlete looking to work with brands, you can find their information on the platform. Learn about their product, values, and messaging. If it aligns, seal the deal.

There are many NIL marketplaces out there where brands and athletes can meet. Each marketplace works a little differently. They might focus on different types of deals or athletes. But there are also many similarities. Often, brands go to the marketplace and look for a certain type of athlete. Then, the brand reaches out to the athlete of interest, makes a proposal, and if both parties agree, there will be a contract, and the brand has to pay a fee to the marketplace. You can read and learn more about the top NIL marketplaces thanks to the NIL Network.

5) Get a lawyer or agent to assist with negotiations

Never sign a contract that you don’t fully understand. Make sure to get you a professional that you can trust, and that is able to review your deals. Your deals should not only be beneficial to yourself, but also compliant with the school’s policy.

As we all know, sports is a multi-billion dollar industry. Make sure to have an honest someone on your side that you can rely on. To find out what may be best for you when it comes to representation for your career read our blog, “Sports Agents, Lawyers, or Self-Representation: Pros & Cons” for more information to help you make the best decision.