Do student-athletes need to disclose NIL deals? What we know about the NIL ecosystem, explored

The fight to get student-athletes paid has been over for years now, but many folks are still unclear as to how NIL (Name, Image, Likeness) deals work. Case in point, a lot of people are asking whether student-athletes are required to disclose their NIL deals. That’s a question we’re going to answer here.

So without further ado, let’s begin.

Do student-athletes need to disclose NIL deals?

Yes, they are required to disclose any NIL deals they secure to “compliance departments,” according to Sporting News. Here’s what Florida attorney Adam Arnaout, who specializes in these deals, said about the requirement:

“Yes. Athletes are required to disclose all NIL deals to their athletic compliance department to ensure that the deal is in compliance with state NIL Law (or, in the absence of a state NIL law, the school’s own developed NIL policy).”

Arnaout furthers:

“Many schools are utilizing apps like Opendorse and INFLCR, which act as streamlined portals for athletes to upload the NIL contracts so they can be reviewed and approved by the compliance department.”

So if you know a college football athlete (or any other student-athlete, rather) who recently bagged an NIL deal, that person must be informed that the deal should be disclosed. That’s because state laws and college rules vary, and no one wants to be on the wrong end of the law.

How do universities manage NIL deals?

But while student-athletes are required to disclose their deals, the universities that have them aren’t exactly required to disclose any NIL data, according to Nova Sports Law.

There’s a lot of legality involved with this matter. But the gist is that universities that harbor student-athletes with NIL deals (even the major, multi-million-dollar ones) do not disclose NIL data.

ESPN themselves tried to get 23 schools to release info on NIL matters, but almost none of them disclosed their records. Furthermore, there’s no way for any entity (even the NCAA) to force these schools to hand over NIL data.

This is just one of many reasons why proponents, including college football insider Joe Klatt, have called for a restructuring of the entire NIL deal landscape. Millions upon millions of dollars are flowing through NIL channels, with student-athletes getting payouts bigger than even the salaries of professional athletes.

For now, only time will tell if things are due to change within the college football NIL landscape.