The Game Is On With 4 Companies Courting College Athletes To Sell Their Brands

Rules regarding college athletes profiting from their name, image and likeness (NIL) changed on June 30 when the NCAA's board suspended them. This followed the U.S. Supreme Court's ruling against NCAA restrictions on education-related benefits for student-athletes on June 29.

The rule changes are now beginning to materialize real consequences as brands are courting athletes to sell their products. 

What Happened: Several companies are working in tandem with athletes to capitalize off the rule change. United Airlines Holdings Inc (NASDAQ: UAL), Shopify Inc (NASDAQ: SHOP), GoPuff and The Oaklander Hotel have struck deals with college athletes or are in the process of doing so, as reported in ModernRetail.

Why It Matters: Many athletes and companies are working to mutually benefit each other after the June decision, boosting revenue from the popularity of an athlete’s name. 

New companies are also entering the market, occupying more space in the new profit-making opportunity. Millions.co, a social commerce platform allowing professional and semi-professional athletes to monetize their fanbase, recently received $10 million in funding from Volition Capital. 

Fresno State Women’s Basketball student-athletes Haley and Hanna Cavinder were the first individuals to sign NIL deals with Boost Mobile, owned by DISH Network Corp (NASDAQ: DISH), and Six Star Pro Nutrition. 

Photo: Emma Dau via Unsplash