Paying Collegiate Athletes for Advertising
On Tuesday, July 13th Missouri Governor Mike Parson signed the state’s NIL bill in Jefferson City making Missouri the 27th state to adopt the NIL bill. Beginning August 28th the NCAA will allow Missouri student-athletes to benefit from their name, image and likeness.
To many, it’s a sense of “what-took-so long?” while a few others…actually there’s not a lot of push back on this decision anymore. As a former NCAA DIII basketball player writing this, it is my belief that athletes should be able to make their own money by signing autographs for fans or becoming a social media influencer. I feel as though players should be able to generate their own income based off their value, as it’s an exciting time to be a college athlete, fan and advertiser. Now, of course this doesn’t affect the DIII athlete quite as much, BUT it will certainly be affecting those 16-22-year-old athletes developing some fame/followers through their athletic skills. It will certainly be affecting the major NCAA athletic programs and fanbase. How can it affect your business?
College-town businesses around the nation have all already jumped on the new NIL policies. For example, college athletes coming to events at local businesses to sign autographs/take pictures, jersey giveaways, social media endorsements/shout-outs or even a college bar, named “Benchwarmers,” paying various benchwarmers on the team to be a paid spokesman by wearing their swag. College social media influencers have been able to profit off their brand based off the number of followers/views. But if they played a sport college, (mind you already having massive followings), you couldn’t make a dime for a social media endorsement.
There are still policies that the athletes need to abide by in order to maintain their amateur status. This means that businesses and advertisers must follow the correct steps too. Navigating these new murky waters can be tough. Luckily, that’s what Bucket is here for! If you’re a business interested in reaching out to college athletes for your marketing strategy, let us know and we can help you get started.