In 2021, high school and college athletes gained the ability to earn money from their name, image, and likeness (NIL) through deals with major brands. This has allowed top student-athletes to secure lucrative contracts with companies like Nike and Gatorade. For example, LeBron James’ son, Bronny James, has an estimated NIL value of $4.9 million. The landscape of amateur sports has significantly changed due to the introduction of NIL deals.
March Madness has seen a surge in interest due to the ability of university basketball stars like Caitlin Clark to secure lucrative sponsorships and influencer-marketing campaigns. According to Ayden Syal, CEO of NIL marketing platform MOGL, this surge is due to the potential for student-athletes to earn substantial amounts of money through NIL deals regardless of whether or not they choose to turn professional.
NIL deals have created a billion-dollar industry that allows student-athletes to monetize their name and likeness. On3 ranks student-athletes based on their annual NIL Valuation, which takes into account factors such as performance, influence, exposure, and deal data. This valuation is a combination of an athlete’s “Roster Value” and “NIL Value” to determine their total NIL Valuation.
While some top earners may have benefited from having well-known last names, the top 10 student-athletes profiting the most from NIL have valuations starting at $1.5 million as of March 26th 2024. Overall, the introduction of NIL deals has opened up new opportunities for college athletes and high school students alike to monetize their talent beyond just playing sports on the field or court.
