Georgia Tech students to benefit from NIL collective

On Behalf of | May 27, 2022 | Title NIL

When a student plays sports for a school, there isn’t always a guarantee that they’ll be paid when their name, likeness or image is used. In Georgia, that is changing, and student athletes stand to gain thousands, if not more, in financial support depending on their role on their sports teams.

This is important, because it has often been the case that schools and sports organizations, among others, have benefitted from using the likenesses, names or images of student athletes while those same athletes were unable to accept any kind of compensation for their efforts.

Understanding name, likeness and image rules

Name, likeness and image laws or regulations determine how student athletes can earn from their own names, likenesses and images.

How are the rules changing in Georgia?

One major example of changes happening in Georgia is the new NIL collective at Georgia Tech.

Students at Georgia Tech will soon be able to benefit from that NIL collective. According to news from May 25, 2022, the NIL collective has been designed do distribute NIL money to school athletes when funded by supporters of the program.

For example, the new collective is being supported by the agency Dreamfield. The goal for the agency is to have 100 subscribers within just 10 days of its initial launch, making it possible for an income right away.

The fees that subscribers pay will then be paid directly to athletes at Georgia Tech, so long as those athletes agree to participate in online chats, virtual meet and greets, in-person meet and greets, sports camps and youth camps and clinics.

NIL collectives could help students get more money for their hard work

Student athletes did not use to be able to take deals or create contracts with others to earn money while playing sports in college. Today, that issue is disappearing as more and more schools opt to allow NIL deals. If you are a student now with an opportunity to take an NIL deal or you would like to learn more about your legal rights regarding NIL deals and your school, you may want to look into seeking professional support.