As Name, Image, and Likeness (NIL) deals continue to grow in the college sports landscape, student-athletes now have the chance to monetize their personal brands by partnering with sponsors and brands. However, navigating this process can be overwhelming, especially for athletes who are new to the business world. As a parent, your role in guiding your athlete through these partnerships is crucial for ensuring they make smart, ethical, and financially sound decisions.
Here’s a guide on how to help your athlete partner with sponsors and brands in a way that benefits their personal and professional growth:
1. Understand the Value of Their Personal Brand
Before diving into sponsorship deals, it’s important to understand the value of your athlete’s personal brand. Your athlete’s brand is based on their social media presence, performance, personality, and reputation. Assessing their marketability is key to identifying which brands will align with their image and values.
Parents should encourage their children to think about how they want to be seen by sponsors and fans. Is the athlete known for their athletic ability, their community involvement, or their sense of humor? Clarifying their personal brand will help in choosing the right sponsors and creating meaningful partnerships.
2. Choose Sponsors and Brands That Align with Their Values
One of the most important aspects of partnering with brands is ensuring the partnership is aligned with the athlete’s values. NIL deals are more than just about money—they are an opportunity to build a positive, long-term reputation. Parents should guide their children in selecting brands and sponsors whose values align with their own, as this will help preserve their integrity and strengthen their brand’s authenticity.
For example, if your athlete is passionate about sustainability, they may want to partner with eco-friendly companies. If they’re involved in charity work, a partnership with a nonprofit could be a good fit. Aligning with the right sponsors will not only resonate with their audience but also strengthen their personal brand in the long run.
3. Negotiate Fair and Transparent Deals
When it comes to NIL deals, negotiation is key. It’s essential that athletes understand the terms of the agreement, including compensation, expectations, and the scope of the partnership. Parents should encourage their children to be involved in negotiations and ensure they are not only focused on financial compensation but also on other important aspects, such as:
- Rights and Usage: How will the brand use your athlete’s name, image, and likeness? Are there limitations on how long they can use it, and in what contexts?
- Compensation: What are the financial terms? Is it a one-time payment, or will there be ongoing compensation?
- Duration of the Partnership: How long will the partnership last, and what are the renewal terms?
- Performance Expectations: What is expected of the athlete in terms of social media posts, appearances, or other promotional activities?
It’s highly recommended that parents consult with a legal professional who specializes in NIL agreements to ensure their athlete is getting a fair deal and that their rights are protected.
4. Ensure Legal Protection
NIL deals are contracts, and they should be treated as such. Parents should encourage their children to have an attorney review any potential contract before agreeing to the terms. A lawyer who specializes in NIL agreements can help make sure that the contract is fair and that the athlete’s interests are protected.
Additionally, parents should be aware of potential conflicts of interest. Some schools may have policies in place regarding certain sponsorships, so it’s essential to check that the deal complies with NCAA or other governing body regulations. Legal protection will help safeguard the athlete’s financial future and minimize any risks or complications.
5. Monitor Social Media and Brand Engagement
For many athletes, a significant portion of their NIL income will come from promoting products and services on social media. Parents should work with their children to ensure that they are using social media responsibly and maintaining a professional image. Here are some key aspects to consider:
- Authenticity: Encourage your athlete to be authentic when promoting products. Fans appreciate honest, relatable endorsements rather than overtly commercial posts.
- Engagement: Help your athlete engage with their audience regularly to build a loyal following. A strong, interactive social media presence will make them more attractive to sponsors.
- Content Creation: Ensure that any content they produce for sponsors aligns with their personal brand. This includes photos, videos, and captions that are professional and on-brand.
Guiding your athlete in creating engaging, high-quality content will help maximize the success of their brand partnerships.
6. Set Financial Expectations
While NIL deals can be lucrative, it’s important to have a realistic view of the financial impact. Parents should help their athletes set expectations for their NIL earnings and how the money will be used. Encourage your athlete to budget for both immediate and long-term needs, including savings, taxes, and investments.
It’s also wise to discuss how NIL earnings can be reinvested into the athlete’s career, such as hiring a personal brand manager, purchasing better equipment, or funding additional training. A clear financial plan will help ensure that NIL income is being used wisely and won’t be spent recklessly.
7. Emphasize the Importance of Networking
Building relationships within the sports industry and beyond is vital for long-term NIL success. Parents can help their children network by attending industry events, connecting with brand representatives, and meeting other student-athletes who are navigating the NIL landscape.
Encouraging your athlete to cultivate a network of mentors, agents, and professionals can provide valuable guidance and open doors to future opportunities. These connections can lead to bigger, more lucrative sponsorship deals in the future.
8. Evaluate the Impact on Their Athletic and Academic Life
While NIL deals provide a great opportunity, it’s important to ensure that the athlete’s academic and athletic commitments remain a priority. Parents should regularly check in with their children to make sure they’re balancing their NIL responsibilities with their studies and sports. Overloading on sponsorship obligations can lead to burnout, poor performance, and missed opportunities.
By helping your athlete stay focused on what matters most and setting realistic expectations for their NIL engagements, you can ensure that their personal and professional growth remains on track.
Final Thoughts
Partnering with sponsors and brands can be a powerful way for student-athletes to capitalize on their talents, but it requires careful thought, planning, and guidance. Parents have a unique role in helping their children navigate this new terrain, from selecting the right brands to ensuring fair agreements and managing finances. By taking a proactive approach and guiding your athlete through each step, you’ll empower them to create meaningful, successful partnerships that benefit their personal brand and future.
- Pat Brown, MBA
