Additional Research

Did some additional research on recent deals and valuations. Louisville Senior Defensive Specialist in Volleyball Alexa Hendricks boasts a NIL valuation of around $119,000 with 363,000 social media followers. She has secured lucrative endorsement deals from Adidas, Pepsi and Jersey Mike’s that have increased her NIL value further; additionally she offers customized videos via her Cameo page for $30 per video. Livvy Dunne (LSU Gymnastics) $3.2M valuation as of 8/23.  As of February 2023, Dunne is the most-followed NCAA athlete on social media with more than 7 million followers on TikTok and 4 million on Instagram. Kenlee Newcom, (Western Ky, soccer.  Senior Year, $117k valuation, 677K followers. Also did additional research on tax requirements and implications for student athletes. Earnings from NIL activities are typically considered taxable income. This means that student-athletes may need to report and pay taxes on any income they earn from endorsements, sponsorships, appearances, or other NIL-related activities.  State Taxes: State tax laws vary, and student-athletes might need to comply with the tax regulations in the states where they earn income from NIL activities. Some states may have specific provisions or tax rates for athletes or entertainers, so it's important to review the laws of each relevant state. If the student-athlete is receiving scholarships or other forms of financial aid, the tax implications of NIL earnings may interact with these awards. It's crucial to understand any impact on eligibility or tax obligations related to scholarships. Earnings can include the obvious monetary earnings and direct payments for appearances, commercials, etc.  Earnings can also include non-monetary “in-kind” payments such as free products or vacations, and even cryptocurrency.