Florida governor signs bill allowing college athletes to profit off their name, image, likeness
Despite a flip-flopping senate and multiple changes to potential NIL law, Governor Ron DeSantis signed a law that added Florida as one of the many states joining the movement of allowing athletes to receive compensation for their Name, Image, and Likeness (NIL). Starting on July 1, 2021, Florida athletes can profit from NIL through endorsements, sponsorships, social media marketing, personal appearances, autographs, and other uses of their name, image, and likeness.
While state of Florida NIL laws will have yet to be seen long-term implications, the immediate shift in NCAA rules means college athletes can start making money now. But how?
Because the new guidelines have created a gray area, lawyers and athletes from different states are sorting out what NIL can look like for them. One thing is for sure: Florida athletes don’t need to wait before beginning to take advantage of the new opportunities that come from the state of Florida NIL rules.
Currently, the NCAA reports that the NIL rules are temporary until Congress creates clearer regulations through national laws. Until that happens, state laws will rule the NIL landscape, meaning University of Florida athletes, Florida State athletes, University of Miami athletes, University of Central Florida athletes, and all other NCAA student athletes can profit from their NIL starting now.
Below, you’ll find a guide for anyone asking how can my company sponsor Florida athletes and for the athletes themselves wondering how to profit from NIL. But before looking at the opportunities new NIL laws afford each school, it’s important to understand the unique provisions of the state of Florida NIL law.
The state of Florida’s NIL law contains a few provisions that make it unique among the other states with NIL laws. However, the substance of the law maintains the same primary condition that limits NIL payment.
The NCAA has worked to expressly prohibit “pay for play” arrangements. With this in mind, the Florida Statute states that “to preserve the integrity, quality, character, and amateur nature of intercollegiate athletics and to maintain a clear separation between amateur intercollegiate athletics and professional sports, such compensation may not be provided in exchange for athletic performance or attendance at a particular institution and may only be provided by a third party unaffiliated with the intercollegiate athlete’s postsecondary educational institution.”
In addition to prohibiting pay for play, Florida NIL law prohibits a university from “preventing or unduly restricting an athlete from obtaining professional representation by an appropriately licensed or registered athlete agent or attorney for the purpose of securing NIL compensation.”
Florida NIL law also specifies that scholarships awarded to an athlete by a college may not be reduced as a result of an athlete earning compensation or obtaining professional representation for the purposes of NIL.
And lastly, Florida NIL Law requires each university to conduct a financial literacy and life skills workshop at the beginning of the athlete’s first and third academic years in an effort to improve education and prepare student athletes to adequately handle the financial gains that come from the use of their NIL potential.
For business owners who want to know how can my company partner with a UF athlete, it’s important to first understand the basics of NIL. When you’re looking for athletes to represent your brand, you want those who are available and recognizable. Available means that it’s best if the athletes haven’t signed with other brands and therefore diluted your advertising power. Recognizable means you want the best athlete for your specific business—whether that student is nationally or locally known is dependent on your goals.
The University of Florida has already seen football players like Emory Jones, Jacob Copeland, and Malik Davis release custom logos and merchandise. Also star gymnast Savannah Schoenherr shared a tweet advertising for a local food company.
These are just the beginning. If you are a brand that wants to partner with UF athletes, Icon Source can help connect you to your ideal brand ambassador. Contact us to learn more about your company’s NIL potential.
The University of Florida has led the way on making sure their student athletes are taken care of when it comes to Florida NIL laws. The launch of their new program called “Gator Made” is intended to help student athletes understand and navigate the challenges and opportunities that come with NIL legislation.
The University of FLorida also announced a partnership with Opendorse and the 'Ready with Darlow' program to educate athletes on how to build their brand, use social media, and attract profitable endorsement opportunities.
If you’re an athlete looking to find a sponsor to partner with and profit off of your NIL, it’s important to connect yourself with a group that can provide you the resources you need as you navigate this complicated market.
Student athletes already have their days full of academics, sports activities, and studying. NIL is only going to add to those everyday burdens. With Icon Source, student-athletes can manage their profiles on a single mobile app—which sends all required reporting data directly to the school, or to the school's desired disclosure software.
And what about taxes? No matter how many deals, large or small, that an athlete completes on Icon Source, they will be provided a single 1099. Most importantly, Icon Source forces brands to use a single contract, non-editable, which protects the students from unforeseen issues.
Icon Source was founded in 2018 by Chase Garrett, former Athlete Marketing Manager at Red Bull, and is now leading the way in helping athletes make the most of their NIL while also partnering with brands to ensure the creation of mutually beneficial relationships between athletes and companies.
If you’re not sure where to start, contact someone at Icon Source and get your questions answered today.
Source: Florida State Sports Info
Florida State athletes are already taking advantage of their NIL potential. Freshman basketball player Matthew Cleveland announced a partnership with Yoke Gaming, a platform that allows you to play against athletes in the video game of your choice.
While many athletes can be seen partnering with known brands and large companies, it’s the local restaurants and businesses that also have much to gain. Something like player autographs on menus is an example of the creativity businesses can use when partnering with athletes and taking advantage of their NIL potential.
If you work for a company that wants to know what athletes are available and recognizable, Icon Source can help you collaborate with Florida Tech athletes when you contact us today.
The various brands that sponsor FSU athletes represent the many opportunities awaiting athletes looking to take advantage of Florida NIL laws. From football standouts to walk-ons, there’s a place for every athlete to use their NIL to achieve their personal or financial goals.
FSU is also doing everything they can to educate student athletes. In addition to offering two for-credit academic courses that cover NIL-related topics, FSU has also launched their Apex program. Apex will offer Seminole student-athletes the opportunity to elevate their social media reach with the help of industry leading content creation software platforms.
Whether an athlete is simply looking for free gear or a way to make some extra cash, or if they’re looking to turn their personal brand into a long-term business, there are opportunities to do both.
Icon Source can help connect athletes to the brands they know and love, while also showing them other opportunities to get the most out of their NIL. If you’re an athlete looking for sponsorship, or if you’re just interested in learning what is out there, contact us to learn more about the state of Florida NIL laws and how they might impact you.
Source: University of Miami
When it comes to Florida NIL law, The University of Miami alumni have made a special effort to get involved. Longtime Miami football fan, Dan Lambert, has launched a private marketing company called “Bring Back the U,” where he is offering every scholarship player a $600 a month contract to endorse his company, American Top Team, through their respective social media platforms.
Lambert is a great example of what can happen when businesses choose to get involved. With so much of the landscape yet to be determined and defined, those who choose to act now have the most to gain.
That means for brands looking to partner with University of Miami athletes, it’s important to come up with a plan and act on it. Lambert has chosen to offer a small amount of money to a large number of student athletes. That’s not to say other businesses can’t do the exact opposite (large amounts of money to a small number of students), but that all depends on the specific business goals.
Whatever your goals, Icon Source can help businesses navigate the tricky waters of working with both athletes and their respective universities. So if you’re asking how can my company partner with University of Miami athletes, then you’ve come to the right place. Reach out to someone today and we’ll answer any of your questions.
Since the new Florida NIL laws were announced, much has been written about the potential NIL has to divide locker rooms and cause dissension between teammates. However, University of Miami Hurricanes athletes have taken a different approach, led by their quarterback.
RISE is built to provide UAB student athletes with technology, education, and tools to succeed in the NIL world and has four main focuses:
Miami Quarterback D'Eriq King hopes to foster stronger teammate relationships through team NIL functions. King wants to split money evenly with teammates who have to send stipend checks home to their struggling families. He has already signed at least four endorsement deals, as well as opening his own online shop and starting a podcast with Miami linebacker Ryan Ragone.
Bill Bender of Sporting News has noted that ““The Hurricanes have been the most aggressive school so far in terms of NIL deals. It’s the advantage of being in one of the largest FBS markets coupled with the desire to bring back a romanticized heyday that included five national championships from 1983-2001…Now, the program is pushing NIL with the most flair.”
The potential is clearly there. So, if you’re a University of Miami athlete looking for brand partnership, or if you just want to know what Florida NIL law means for you, Icon Source can help. Contact us and get answers to all of your NIL questions today.
Source: UCF Today
Like many schools, the University of Central Florida is poised to prepare athletes to approach Florida NIL law. To do so, UCF Athletics will offer LAUNCH—a department-wide plan for understanding and evaluating NIL legislation featuring partnerships with Opendorse and COMPASS.
The LAUNCH program will help UCF student athletes build their brands and take advantage of marketing and other opportunities made available by Floria NIL legislation.
The UCF vice president and director of athletics, Terry Mohajir, says, "Our LAUNCH program incorporates multiple new elements to assist our student-athletes with navigation of these opportunities—and we are excited to add the Opendorse and COMPASS platforms to what we already were offering to them.”
For brands and businesses hoping to connect with UCF student athletes and for those asking how can my company partner with UCF athletes, IconSource is a great resource to help you navigate the NIL wild west. In the same way that UCF hopes to educate their students, IconSource exists to educate businesses. If you have any questions, or any specific athletes you’d like to connect with, contact us and we’d be happy to learn more about your goals.
UCF is already taking action to encourage player involvement with new Florida NIL laws. In addition to providing guidance for choosing the right marketplaces, UCF wants to work with student athletes to maximize their NIL goals while staying within NCAA guidelines. On campus UCF student-athletes have access to free student legal services as well as resources of the UCF Center for Innovation and Entrepreneurship.
Aware of the key role social media will play in all NIL deals, UCF used the 2021 spring football game as a testing ground. The Knights put Twitter handles on the backs of player jerseys as a one-time strategy to help promote personal brands of athletes. During the game, those same Twitter handles were also used on graphics on the video board to promote them during the game.
UCF has also led the way off the gridiron. UCF's women's basketball is the first NCAA team to sign a sponsorship deal. They partnered with the Tampa-based moving company called College Hunks Hauling Junk and Moving. In the deal, each player on the team will receive $500 to promote College Hunks on their social media with the opportunity to earn more through commissions.
So, whether you’re an individual UCF athlete looking to capitalize on your NIL potential, or if you’d like to see your team do something together, Icon Source can help. Contact us and get answers to all of your NIL questions today.
Student athletes, universities, and companies should pay close attention to the continuing developments in both the state of Florida NIL law and national laws that may be forthcoming.
Additional legislation will inevitably come up as all parties discern what NIL means for college sports and how businesses and brands can be a part of helping college athletes get paid.
While there remains a variety and inconsistency of laws at the state level, the possibility that Congress may pass federal NIL legislation is also possible. If you’re a student athlete or brand wondering what all this might mean for you, talk to Icon Source to stay up-to-date with the latest news and ahead of the latest trends.