NIL Contract

[blion72]

My brother is an adjunct at OSU and also consults for them. Lately the firm he works for has been helping athletes and parents deal with among other things NIL agreements. This weekend we are visiting with him, and a family came over with their son who is planning to attend UNLV as a walk-on kicker. This kid is building games for the Apple store, and wants to tie playing CFB to his games and add to his brand. My brother is helping them pro bono as they are friends.

Their is a crowd funded organization that is providing the NIL$ to the athletes. they gave him the standard contract with some of the items like $$$$ left blank. I got a chance to see the agreement, and here are some of the more important terms in normal language:

1. The player agrees that the agreement is not connected to any university and is not dependent on attending or performing a given sport.
2. The player acknowledges the company is independent of any university and only members of the company can represent this agreement to the player
3. Player agrees they are not an employee of the company and will pay all taxes. legal fees, certifications, etc as an independent entity.
4. Term would be one year with a re-assessment of value at termination. Renewal is not guaranteed.
5. The value of the player's NIL will be established by the company, and no member of any university may discuss or imply a value to the player.
6. The value of the player's NIL is a function of many factors, which are solely determined by the company.
7. The company have revoke the agreement unilaterally in the event that the player's conduct adversely impacts the NIL value
8. The player assumes all liability for any action regarding their NIL

 

[blion72]

My brother is an adjunct at OSU and also consults for them. Lately the firm he works for has been helping athletes and parents deal with among other things NIL agreements. This weekend we are visiting with him, and a family came over with their son who is planning to attend UNLV as a walk-on kicker. This kid is building games for the Apple store, and wants to tie playing CFB to his games and add to his brand. My brother is helping them pro bono as they are friends.

Their is a crowd funded organization that is providing the NIL$ to the athletes. they gave him the standard contract with some of the items like $$$$ left blank. I got a chance to see the agreement, and here are some of the more important terms in normal language:

1. The player agrees that the agreement is not connected to any university and is not dependent on attending or performing a given sport.
2. The player acknowledges the company is independent of any university and only members of the company can represent this agreement to the player
3. Player agrees they are not an employee of the company and will pay all taxes. legal fees, certifications, etc as an independent entity.
4. Term would be one year with a re-assessment of value at termination. Renewal is not guaranteed.
5. The value of the player's NIL will be established by the company, and no member of any university may discuss or imply a value to the player.
6. The value of the player's NIL is a function of many factors, which are solely determined by the company.
7. The company have revoke the agreement unilaterally in the event that the player's conduct adversely impacts the NIL value
8. The player assumes all liability for any action regarding their NIL

forgot to add #9 - player is to inform company of any conditions that may impact the utilization or valuation of their NIL including but not limited to injuries, academic probation, disciplinary conditions of any kind or other factors that may impair optimum participation by player in their sport.

I found that somewhat contradictory to the first point.

Anyhow, these agreements that the crowd funding companies would need to have in place are very interesting. The companies have to set the NIL $$ value on a player, and the school cannot be part of that. In the NFL the team sets the value, so it is easy. What if the company puts a value on a player that the staff do not find helpful? They cannot communicate with each other.