Consumer Protection System

Recently, the head of the NCAA suggested the creation of a “consumer protection system” for college athletes in the NIL area.  Creating a consumer protection system for collegiate athletes and their families is essential to empower them with the knowledge and resources needed to navigate the landscape NIL deals effectively. This system would involve establishing guidelines, educational programs, and oversight mechanisms to ensure that athletes are equipped to distinguish between legitimate opportunities and fraudulent schemes.

Such a system has many benefits.  By providing clear information on what constitutes a valid NIL agreement, athletes and their families can make informed decisions that align with their best interests. Educational resources could cover topics such as contract negotiation, rights management, financial literacy, tax implications, and legal implications of NIL deals. Most of the topics covered in my presentation for high school athletes and their parents.  Additionally, having oversight mechanisms in place, such as a regulatory body or advisory board, can help monitor the market for deceptive practices and protect athletes from exploitation.

One drawback would be the manner in which the system is created and implemented. Many colleges are already struggling to deal with NIL education for their students.  They have been tasked with educating and enforcing on rules and helping many students interpret state laws.  This additional work has not been met with equal funding.  Therefore, many school administrators are learning this new and ever changing system at the same time they are educating others, all while continuing to handle the other responsibilities of their job.   

Overall, a robust consumer protection system for collegiate athletes in the realm of NIL deals serves to safeguard their interests, promote transparency and integrity in the industry, and empower athletes to leverage their personal brand in a fair and sustainable manner.