What is "NIL" in College Football?

A millionaire college athlete? Who could've imagined that college athletes would be able to make so much money while they're still in school?

After decades of debate over whether college athletes should be allowed to make money, the NCAA ruled that they are now allowed to do so.

As of July 1, 2021, college athletes are allowed to make money off of their name, image and likeness, or "NIL," for short. This does not mean that the universities and colleges will pay the athletes. It means that athletes can now make money off of sponsorship deals, jersey sales, etc.

Within hours of the rule becoming official, college athletes across the country were announcing partnerships with local and national businesses.

Which NCAA athletes will make the most money on NIL deals?

This week, University of Alabama head coach Nick Saban said that his soon-to-be starting quarterback Bryce Young is making over $1 million in NIL partnership deals.

Young was the backup to quarterback Mac Jones in 2020. Now that Jones is in the NFL, Young is poised to be the starting quarterback for the Crimson Tide this fall. Young hasn't even taken a snap of college football play but he is already cashing in, which is surprising, given many believed it would be the "big names" in college athletics getting the NIL deals.

Nick Saban says Bryce Young is approaching "almost seven figures" since new NIL rules passed 😳(via @chris_hummer) pic.twitter.com/woA2rQ5ptw

— SportsCenter (@SportsCenter) July 20, 2021

University of Oklahoma quarterback Spencer Rattler announced that he would donate a portion of the money he made in NIL partnerships to local charities. Rattler has played two seasons with the Oklahoma Sooners and could cash in big time with the audience and fan engagement that Oklahoma football receives.

University of Michigan fresham quarterback J.J. McCarthy has also said that he will donate a portion of his NIL deals to a children's hospital.

A rundown of a few NIL partnerships

University of PIttsburgh quarterback Kenny Pickett announced on Twitter this week that he has signed a NIL partnership with the Oaklander Hotel's restaurant "Spirits and Tales," and that he will be hosting his weekly offensive linemen dinner there.

For my first NIL deal, I want to make sure I can take care of the big guys who take care of me. I’m excited to announce my association with the Oaklander Hotel & their restaurant, Spirits & Tales, where I will be treating my linemen to our weekly Hog Dinners! #OaklanderPartner pic.twitter.com/hek0x0ujB3

— Kenny Pickett (@kennypickett10) July 15, 2021

While that is an example of an athlete's partnership, just this week the University of Michigan Athletics announced a partnership with "The M Den," a sports apparell store in Ann Arbor featuring Wolverines merchandise.

"The M Den" will now sell football jerseys with current players names and numbers. Wolverines football players will now get paid quarterly from the jersey sales, something they weren't allowed to do before the NIL rules were announced.

The daily announcements about athletes NIL partnerships lead to the oh-so-long conversation of whether Reggi Bush should be given his Heisman Trophy, back seeing as if the current NIL rules were in place when he was playing at USC, he would have cashed in millions of dollars.