Congress hosted an NIL meeting on Wednesday morning. NIL conversations have been at the top of college sports for the past few years, heavily affecting where athletes take their talents while also being used as a tool for coaches in the transfer portal.
Consequently, a lot of negatives are being mentioned as athletes are signing these deals in the offseason. There are rumors of numerous players picking schools based on how much they could offer. This calls for meetings like the one being held at Congress. Overall, NIL will be at the forefront of college sports for years to come.
On hand for today’s NIL Congressional hearing at 10:30 am ET.
If you’re expecting something revolutionary, you should know that the last seven NIL hearings resulted in the passage of zero bills.
If you have nothing else better to do, you can watch here – https://t.co/Xc3Xrb4lBT pic.twitter.com/kzOJOmhylJ
— Ross Dellenger (@RossDellenger) March 29, 2023
NIL and Its Effect on College Sports
Name, image and likeness has brought many positives and negatives to the world of college sports. Most think its positive that athletes can get paid what they are worth. Secondly, they are being set up financially if there is a chance they don’t go pro. The negatives have definitely outweighed the positives. Fans and coaches complain that schools who can offer the most money will get the best recruits. Additionally, athletes can enter the portal and go to teams that they feel will pay them the most.
The meeting held on Wednesday addressed issues with who has the most power. The NCAA wants to gain control over the NIL situation and have clear power over the athletes. Congress has the ability to pass laws that can put some type of restrictions on what athletes can do when negotiating NIL deals and how schools utilize them. Therefore, fans have put immense pressure on the government to take a stance.
Highest Current Valuations
Surprisingly, athletes can begin getting their NIL valuations before they even enroll at their university. The highest NIL evaluation that we have seen in its short history belongs to Bronny James, the son of NBA superstar LeBron James, and it’s not even close. He is currently valued at $7.2 million and the next closest is at $3.7 million. Bronny’s high value is largely due to his father’s popularity and greatness in the NBA. Other top valuations include Arch Manning, Olivia Dunne and Mikey Williams. Some of these valuations are high due to an athlete’s popularity.
Former Gators quarterback commit Jaden Rashada requested a release from his letter of intent due to NIL issues. This gives athletes the opportunity to request astronomical numbers when finding the right school to play for.