NCAA athletes are wasting little time in capitalizing on new rules allowing them to profit off their name, image, and likeness (NIL), with some high-profile stars expecting to sign six-figure endorsement deals.
Payouts will vary 'client to client, deal to deal' sports attorney Darren Heitner told DailyMail.com, adding that contacts in excess of $100,000 are 'absolutely' expected before the fall sports season starts in late August.
And Heitner isn't guessing. He already represents Florida football player Donovan McMillon as well as twin sisters and Fresno State basketball stars Haley and Hanna Cavinder, who quickly leveraged their 3.3 million TikTok followers into new deals with Boost Mobile and SixStar ProNutrition. Like the other contracts signed on Thursday, terms were not disclosed, but the Cavinders's new sponsorship agreements are already receiving national attention after being announced on an electronic billboard in New York's Times Square.
Twin sisters and Fresno State basketball stars Haley and Hanna Cavinder (pictured) leveraged their 3.3 million TikTok followers into a new deal with Boost Mobile
Like the other contracts signed on Thursday, terms were not disclosed, but the Cavinders's new sponsorship agreements are already receiving national attention after being announced on an electronic billboard in New York's Times Square. Icon Source, a company that
The NCAA Board of Directors approved the NIL change on Wednesday, making Thursday the first day college athletes could capitalize on their fame without endangering their eligibility or putting their school in jeopardy.
For years, college sports' top governing body claimed to be protecting amateurism by penalizing athletes for signing endorsement deals, selling autographs, or making paid appearances, among other violations. But while the NCAA will continue to bar schools from paying athletes directly, the organization appears to have caved to outside pressure by lifting NIL restrictions.
And if Thursday is any indication, companies of all sizes are eager to sign new spokespeople.
Of course, not every endorsement deal is with a nationally recognized company like Boost Mobile.
For instance, Antwan Owens, a defensive end for Jackson State's football team, and four of his teammates signed with Three Kings Grooming, a black-owned hair product shop.
'Somebody pinch me,' Owens told Sports Illustrated.
Kentucky basketball star Dontaie Allen isn't endorsing a company, but rather produced his own custom apparel line, which features his name and image — something that would have been considered an NCAA violation as recently as Wednesday.
Auburn quarterback Bo Nix inked an endorsement deal with Milo's Sweet Tea shortly after midnight — a contract that was brokered by Icon Source, which claimed to have facilitated more than a dozen such sponsorship agreements on Thursday alone.
Meanwhile a Lincoln, Nebraska restaurant chain, Runza, plans to offer a flat fee to the first in-state college athletes who promote the company on social media.
British multinational consumer goods company Unilever said it plans to spend $5 million over the next five years on ads for its deodorant, Degree, featuring college athletes.
Another interesting opportunity for college athletes comes from Yoke, an app that allows started by former Notre Dame walk-on football player Mick Assaf that pays celebrities to play video games with fans. Several NFL players have already earned money from Yoke, which pays anywhere from a few dollars to a few hundred per game, according to ESPN.
The NCAA rule change also helps notable athletes earn money in other areas, such as music.
Marshall offensive lineman and country musician Will Ulmer had been performing under the alias 'Lucky Bill' and often refused payment to play live concerns near the school's West Virginia campus. Now, though, Ulmer can play under his real name and get paid for doing so.
'Now that the NCAA will allow it, I will be playing live shows this year as Will Ulmer!!' he wrote on Twitter. 'I am open to all venues and business opportunities!! DM if interested, let's make some music.'
Athletes can also earn money on Cameo, a website that allows celebrities to get paid for sending personalized voice and video messages to fans. According to The Action Network's Darren Rovell, Oklahoma quarterback Spencer Rattler is earning $125 per message while Northwestern QB Ryan Hilinksi is asking for $50 a pop.
Perhaps the biggest opportunity belongs to Louisiana State gymnast Olivia Dunne, who boasts 5 million followers between TikTok and Instagram, making her the most followed active college athlete,
