Name, image and likeness regulations are resulting in higher valuations for college athletes, with some athletes having valuations over $3 million. This influx of money highlights the importance of financial literacy for these athletes.
Name , image and likeness regulations are funneling more money into college athletes ' bank accounts — and making financial literacy more important.
In 2021, college athletes in the NCAA gained the opportunity to benefit financially from their name, image and likeness — known as NIL regulations. That meant that they could get paid for signing autographs or posting on social media as brand ambassadors, among other things. Quarterback Chase Griffin #11 of the UCLA Bruins looks to pass the ball in the game against the Arizona Wildcats at the Rose Bowl on November 28, 2020 in Pasadena, California.He says his framework around money has come a long way since his freshman year of college, back when he received stipend money from the university.
Copeland is the CEO of Athletes.org, an organization that focuses on helping college athletes navigate this new world. Athletes.org works with NCAA athletes around the country to provide free, on-demand support for key decisions in their life such as finding a lawyer to review an NIL deal. It also provides a forum to discuss everything from negotiation tactics to mental health.
Name Image Likeness Regulations College Athletes Finances Valuations Financial Literacy
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