Regulating the Wild West of NIL
Update: 2023-08-04
Description
Last month, U.S. Senators Booker, Moran, and Blumenthal published a discussion of draft of legislation that would create a regime to govern name, image, and likeness (NIL) deals college athletes enter with third parties.
But there is so much more to it. Colleges and its athletic departments will serve a key role in facilitating awareness among its student athletes of their rights under what's now titled the College Athletes Protection and Compensation Act (CAPCA).
Here, I analyze the draft and try to offer what this means for colleges, athletic departments, student athletes, agents, and third parties.
Links to other coverage and the draft:
- Student Athletes Get Scammed in NIL Deals, Bloomberg Law Podcast (for context giving rise to this discussion)
- Press release from Sen. Booker’s Office
- Steve Henson, Senators release draft of bill addressing NIL reform in college sports, Los Angeles Times (July 20, 2023)
- Olafimihan Oshin, Senators announce push to reform college athletics, The Hill (July 20, 2023)
- CAPCA Discussion Draft (as of July 2023)
- The 1-page summary from Senators Blumenthal, Moran, and Booker
- Nicole Auerbach, Draft of new bipartisan NIL bill calls for central oversight entity to enforce rules, The Athletic (July 20, 2023)
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