We are currently witnessing a state of college sports that we have never experienced before.
At one point in time, players like Michigan’s “Fab Five” were so iconic that they inspired a movement of apparel and their likeness was used without them being able to profit off of it. Flash forward to now, thanks to the new NIL legislation college athletes have the opportunity to profit off of their likeness and use their stardom to their financial advantage.
Players like Texas’ Quinn Ewers became the poster child for how NIL changed college sports, as he skipped his senior season of high school to cash out on lucrative deals at Ohio State.
Whether it be sparking a deal with a local restaurant, or a deal with a major brand, the athletes are finally getting compensated. However, just like we all knew would happen because it is college football, it seems to have gotten a little out of hand due to the lack of regulation.
I am not calling for the death of NIL, but it does seem that based off current events that there needs to be some set of guidelines to calm down the never ending free agency that college football has become.
Whether it be players threatening to leave their school if they don’t get more from their NIL deals, or NIL numbers being tossed around for a player not even in the portal, it’s uncontrolled madness.
Here are four possible ways that NIL can be regulated or eventually fixed down the line, and some of the pros and cons that go along with each.
Put a cap on the earnings
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There will likely be some sort of governing body that would have to oversee NIL as a separate entity, but one way to limit all the craziness that is occurring is to set a maximum amount of how much the players can earn. On the positive side, this one would eliminate schools being able to legally buy players, as right now there are no rules against promising a player they will earn so much if they attend a specific school….
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