Name, Image & Likeness (NIL)
Start a Website
Purchase your student-athlete’s web-domain
- Eg: "www.LukeLindenmeyer.com"
- Photo shoot, live shots, video, media, press
- Memorabilia = memories, historical significance
Start a Business
Understand that your Name, Image and Likeness is your Brand, a brand that is MORE than an Athlete.
Start a business.
Start a nonprofit.
WHAT IS YOUR CAUSE?
The old rule limited college athletes from starting businesses with their own invention unless they sought a waiver - the rules have changed...
Considerations
Start a LLC in your State
- Entrepreneurs under the age of 18 have special legal issues to consider.
- Parent must initiate and own the legal entity
- State laws differ on the level of involvement by the student-athlete
- Implement a “Profit First” accounting to ensure additional taxes do not surprise you!
(15% to Taxes; 50% Expenses; 25% Compensation)
Start a Nonprofit
- Allocate 25% of the above to fund a nonprofit
- Student-athlete wants to support Autism, Alzheimer’s or Cancer Research
- Demonstrates character where the outreach builds their brand and may be reciprocated