NIL WELCOME LETTER
Dear Recent High School Graduates and future Collegiate Athletes,
On behalf of the members of the wild wild west club, also known asNIL actors, we want to congratulate you on your high school graduation, and alsoon you athletic accomplishments that have landed you on a team to continue withsame at the collegiate level. We have no doubt your success and achievementswill continue. We also would like to officially welcome you to the chaos andconfusion known as NIL!
Here are a few realities that you can expect to deal with, but not necessarily in some or all cases:
· in the law. The fact that you might become deemed an “employee” of your university by virtue of participating in sports, which can be good and bad – might you be fired for poor performance? Might the NCAA get an exemption from this? Who knows!
· Brands that don’t understand your value and/orthat will take advantage of you in a lopsided minimal value to your NIL dealwithout conscience or remorse.
· Pressure on federal legislators for uniformlaws.
· Lack of transparency as to deal values.
· Bad or confusing information on when you must disclose NIL deals to your college or university (is it only for cash deals? Isit only when deal values exceed $x, is it my responsibility at all? all of the above? none of the above? – you get the picture).
· A barrage of outreach from NIL tech platformsand other tech platforms, all of which are “the best” and looking out for you.
· Complicated NIL deal contracts for you to sign.
· Can I use my jersey/uniform, my number, team colors or logo, facilities, or not?
Again, welcome to your college experience and the world of NIL; we are all here for you!
Ken S. Feinberg