We saw a fundamental issue with the trajectory of growth in the NIL environment, one that took the student-athletes and their families out of the driver’s seat. For decades athletes have been taken advantage of, and lost hundreds of millions of dollars from poor financial services and fraud. As the presence of third-party relationships and intermediaries grew to make the lights shine ever brighter; the lights for compliance and regulatory matters became even dimmer. The expertise of the trusted parties is not transferable to tax, nor is it a quick study subject for student-athletes and their families to process themselves. Yet, professional money has professional consequences, especially when the IRS is involved.

Additionally, the schedule of a student-athlete and their campus experience is nowhere near that of a typical student. It is a fallacy to believe student-athletes could effectively manage these matters within their institutions. Also, blind reliance on the athletics department causes risks in the unfortunate scenario the relationship ends and the student-athlete transfers for their long-term success. Social media and the internet are helpful for a lot of things, especially those on tight schedules looking for a quick answer; but, they do not replace the care and diligence of a professional.

 

We embrace all the intricacies faced by student-athletes during their time in school and that is why we launched EZ NIL at Edler Zain. Fixed rates with the student-athletes and their families as the focus, the support and care of a classroom, and communications to match the college experience. Send the TikTok – Call after Sunday workouts – Ask the question you thought of during a timeout before you helped the team win.