College athletes weren’t always allowed to make money off their athletic assets. It wasn’t until 2021 that the NCAA changed its rules to allow students to profit off their name, image and likeness — also known as NIL.

What exactly is NIL?

“NIL” stands for “name, image and likeness.” It refers to a person’s legal right to control how their image is used, including commercially. In college, student-athletes have long been prohibited from signing deals to profit from their fame, so they forfeited their NIL rights by signing with college sports teams. Three years ago, a combination of NCAA rule changes and state laws restored college athletes’ NIL rights, and they’ve been signing sponsorship deals ever since.

Who oversees the deals?

A combination of school policy and state law dictates what deals athletes can make. In states without oversight, the NCAA lets universities set policies for their own athletes. Some common school requirements include requiring athletes to receive business advice or training before signing deals, or not being able to promote certain products. State laws are primarily aimed at preventing NIL deals from being used as recruiting tools. Schools can’t pay students directly, but some states have unclear laws about how involved a school’s booster club can be.

Do athletes get agents or business advisors?

Yes, any athlete is allowed to hire professionals to assist with marketing, legal matters, tax laws, and other business transactions. Many schools also offer training and resources directly to athletes, often in the form of early-season classes on NIL law and basic business practices.

Should athletes report these types of deals to their school or other agency?

Most colleges have policies requiring athletes to disclose details of potential deals with their schools, and some must obtain permission from the school before signing. Several schools reserve the right to prohibit their athletes from advertising certain products, such as drugs and alcohol.

Why are the rules different in each area? Will that change?

While several states now have NIL laws or have introduced bills to implement them, the content is far from uniform. As with any statewide legislation, local lawmakers have taken different approaches to prioritizing local businesses and incentivizing college athletes to choose universities within their borders.

The NCAA has expressed concern that enforcing its own NIL rules, absent a federal law, could violate antitrust laws. While the organization hopes Congress will adopt a federal standard, no national set of rules exists.

What kind of deals do athletes make?

From free sneakers and workout gear to expensive clothing items and dorm room supplies, the benefits for student athletes who sign a NIL contract have increased dramatically since student-athletes were given the right to profit from the publicity they bring to their schools.

The biggest stars, guided by business mentors and school-provided financial advice, have benefited. On Aug. 29, On3 ranked Colorado quarterback Shedeur Sanders as the star of the current NIL market with a whopping $4.7 million valuation, including a follow-on from his father’s Nike deal. The site estimates that each of the 20 players at the top of the list is worth at least $1 million. And by the same calculation, even the 100th-ranked athlete was worth $583,000.

For the athletes who combine a strong social media presence, business acumen and prowess on the field, big brands are eager to shell out cash. Top athletes have signed deals with Nike, Adidas and Under Armour, while non-athletic brands like T-Mobile, Sam’s Club and Amazon are luring students across the country.

Of course, the vast majority of student athletes do not meet that standard. However, that does not stop companies, from local family shops to international brands, from partnering with promising students in every sport and at different schools.

Some particularly odd deals have attracted both athletes and companies outside their usual audiences.

Dienurst Collins, an offensive lineman at Lake Erie College, scored both a contract and a second round of Internet fame when he signed a deal with Popeyes, where he went viral at age 9 when he gave a strange look to a stranger who was filming him at the restaurant and then posted the video online.

Decoldest Crawford leveraged his name to make some extra money while he was injured. The Louisiana Tech wide receiver partnered with a family-owned air conditioning company to create a commercial centered around the pun.

Running back Bijan Robinson took a similar approach to name-based leverage when he played for Texas. He started selling Dijon mustard, marketing it as Bijan Mustardson and selling it in Texas. When Robinson joined the Atlanta Falcons, he took the branding with him and now calls it the official Dijon mustard of the team.

Brands don’t discriminate based on first names. Ga’Quincy “Kool-Aid” McKinstry struck a deal with his nickname brand shortly after the ruling allowing NIL deals.

Other companies sponsored multiple athletes at NIL at the same time.

Reese’s Peanut Butter Cups didn’t limit itself to a single athlete, team, or even school when choosing its NIL deals. Instead, the candy brand partnered with a dozen students from Texas to Delaware who seemingly share just two characteristics: play football and have the last name “Reese.” Angel Reese wasn’t on their original list, but has since become an ambassador for the brand.

Many deals depend less on an athlete’s individual story than on their ability to play NIL for fun — like the one with Colorado lineman Tommy Brown, who stripped down to a pair of Shinesty underwear in a series of tongue-in-cheek poses that accentuated his tan. Arkansas wide receiver Trey Knox included his dog, Blue, in a deal with him. PetSmart sponsored both of them, in a move that generated a wave of online engagement for both.

Gymnast Sam Phillips, the first male athlete in Nebraska to come out as gay, has worked with many local companies, but told ESPN he’s especially excited to partner with businesses that celebrate Black and LGBTQIA+ customers. Before moving to Illinois, he modeled for everything from underwear to athletic tape, the latter of which he did for Our Color, which makes tape that suits darker skin tones than many other brands offer.

“It’s definitely more like (small and minority businesses) taking care of me,” Phillips said. “It’s a very personal, face-to-face relationship.”