When Governor Brian Kemp signed House Bill 617, Georgia became 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, Georgia 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 Georgia 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: Georgia athletes don’t need to wait before beginning to take advantage of the new opportunities that come from the state of Georgia 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 Georgia athletes, Georgia Tech athletes, Kennesaw State athletes, and all other NCAA student athletes can profit from their NIL starting today.
Below, you’ll find a guide for anyone asking how can my company sponsor Georgia 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 Georgia NIL law.
The state of Georgia’s NIL law contains a few provisions that make it unique among the other states with NIL laws.
One of these statutes gives Georgia schools the option to require that their student athletes share up to 75% of their NIL compensation. These “pooled” funds would end up in an escrow account to be entrusted to the athletic director of the school.
Then, one year after the student has graduated, the athletes would be eligible to receive their pro-rata share of these funds. Even with this option, however, the University of Georgia has already shown disinterest and it’s expected that other schools will do the same.
The other unique provision in the state of Georgia NIL law is that the legislation requires universities to provide a minimum of five hours of financial literacy and life skills teaching as their students prepare to receive and handle the income from their NIL. While both of these provisions appear to be in the students’ best interest, it’s up to the individual Georgia schools to determine how they will act upon them.
For business owners who want to know how can my company partner with a UGA 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 Georgia has already seen quarterback Brock Vandagriff sign an endorsement deal with Onward Reserve apparel, as well as running backs Zamir White (Z3 Chosen One) and Kendall Milton (KM2) each release trademarked logos on social media.
These are just the beginning. If you are a brand that wants to partner with UGA 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 Georgia has led the way on making sure their student athletes are taken care of when it comes to Georgia NIL laws. UGA announced that they would partner with Altius Sports Partners, an NIL advisory and education firm, to educate student athletes at Georgia on what it could look like to profit from their name, image, and likeness and how to handle the unique benefits and challenges that come with it.
Josh Brooks, University of Georgia athletic director, explained, “I’m thrilled to be able to offer this educational and personal development opportunity to all our student-athletes in advance of the expected NIL changes in collegiate athletics.”
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.
Founded by NFL veteran and University of Georgia alum, Drew Butler, Icon Source is 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: Busting Brackets
Georgia Tech wide receiver Marquez Ezzard is among the first to take advantage of new Georgia NIL laws, which he did by representing a designer underwear brand. Ezzard is not alone. Safety Juanyeh Thomas, basketball player Dallan Coleman, and Kenyatta Watson have joined Ezzard in representing PSD, described as affordable designer underwear.
Also, football players Miles Brooks and Tariq Carpenter (along with Watson and Coleman) struck deals with Yoke, a video-game app that lets fans play video games against athletes.
For PSD, all it took was a direct message on Instagram to attract Ezzard’s attention. Seeing as he was already a fan of the brand, getting him to come on board and use his name, image, and likeness to support their company was a simple next step.
This method points to the simplicity that can happen when brands know the type of athletes that would best fit their advertising objectives. If you work for a company that wants to know what athletes are available and recognizable, Icon Source can help you collaborate with Georgia Tech athletes when you contact us today.
The various brands that sponsor Georgia Tech athletes represent the many opportunities awaiting athletes looking to take advantage of Georgia 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.
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 Georgia NIL laws and how they might impact you.
When it comes to Georgia NIL law, Kennesaw State is one of many universities that have gone above and beyond in making it clear how Kennesaw State athletes can profit from NIL and what it takes for businesses to endorse Kennesaw State athletes.
In their outline of Kennesaw State NIL policy, they make it clear that students must “disclose each potential agreement providing compensation for their NIL before entering into compensation agreements.”
That means for brands looking to partner with Kennesaw State athletes, it’s important to maintain a healthy level of transparency to ensure a positive relationship with the university. Of course, this is easier said than done, and it’s yet to be seen what can happen when a school disapproves of a student athlete’s choice of brand partnership.
Regardless, 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 Kennesaw State 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 Georgia NIL laws were announced, seven Kennesaw State athletes have endorsed brand partners—including three track and field athletes, two baseball players, a lacrosse player, and a volleyball player.
All of these athletes are reportedly Barstool Sports Athletes, which is an example of a brand encouraging athletes to approach them in the hopes of creating a sponsorship relationship. While the details of each endorsement is uncertain, it’s clear that athletes from school all across the country have the freedom to take advantage of their state’s NIL laws however they see fit.
If you’re a Kennesaw State athlete looking for brand partnership, or if you just want to know what Georgia NIL law means for you, 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 Georgia 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.