NIL Regulations and College Sports: New Rules and Challenges
A new college sports agency has rejected NIL deals between athletes and donor-backed collectives, citing lack of valid business purpose, as part of efforts to regulate NIL agreements and prevent indirect payments that don't involve public-facing goods or services. This move follows the recent legalization of direct payments to athletes and the shutdown of some collectives, with new guidelines requiring deals to have broader business purposes and be vetted through a clearinghouse.