A new company is offering college athletes upfront cash in exchange for a portion of their name, image and likeness deals, an arrangement some consumer protection experts and financial advisers say could prey on young athletes.
If the player makes nothing in NIL deals over the seven years of the contract, Nilly loses its $50,000 investment. If the player earns $200,000 in deals during the contract, Nilly receives $50,000 and recoups its initial investment. If the player earns $500,000, Nilly receives $125,000 – recouping its initial investment, plus $75,000 – the maximum the company can make from the contract.
There seems to be a maximum return on this. I am not mad at it. I would rather have a company like this looking at contracts and funding than a new NIL agent.
There seems to be a maximum return on this. I am not mad at it. I would rather have a company like this looking at contracts and funding than a new NIL agent.