What is NIL? 

NIL stands for name, image, and likeness which is a term that describes the means by which amateur athletes are allowed to be compensated. Athletes can be compensated based on their name, image, and likeness through marketing and any promotional events. This can be social media posts, product endorsements, and more. NIL is a way for college athletes to still be compensated while holding on to their amateur status. It certainly has its advantages, but it also has its unfortunate drawbacks. Here are some pros and cons of NIL deals.

Pros of NIL

1. Money

The biggest pro of NIL is that it allows athletes to make money off of their name which their schools make millions off of. It is only right that these athletes who generate so much money for their schools receive some compensation. 

2. More Athletes Will Graduate

Another pro of NIL is that it also keeps student-athletes at their schools longer and gives them a bigger incentive to get their education. Many athletes try to jump pro as soon as possible because they're chasing the money, but many don't end up making it and are without a degree on top of that. Since athletes are able to make money, it gives them an incentive to get their stay and degrees and play for their school. 

3. Small Businesses

A third pro of NIL is that it helps small businesses bring in more customers when athletes promote them. A lot of local places give NIL deals to local athletes in return for periodical social media posts or meet-and-greats.

4. Charity

Name, image, and likeness is also used by some athletes for charity purposes. Florida State offensive lineman Dillan Gibbons used the money to start a GoFundMe for his friend who has an incurable disease. 

Cons of NIL 

5. Transfers

Many athletes leave their current schools to get better NIL opportunities at a school that can offer more. Smaller schools often lose their best players to bigger schools looking to sweep away their best athletes. 

6. Recruiting Violations

Some schools illegally pay athletes to come to their schools but disguise the payment as some sort of NIL deal. Coaches, boosters, etc. are not allowed to directly pay recruits. This is seen as a form of bribery and is very much against NCAA rules, but with the new name, image, and likeness rules, people have found a way around these violations.

7. Unequal Deals Within Sports

Other athletes like football and basketball players make a lot more money than other sports that don't generate as much money. This leads to a lot of inequality among athletes who might not make as much as others. 

8. Unequal Deals Within Divisions

Division II and III athletes have much more limited NIL opportunities depending on their school and location.