College sports enter new era with NIL deals

The Basics

• Old Dominion’s Kris Trinidad embraces NIL to build his brand

• Virginia legislation allows schools to pay student-athletes

• Coaches and programs adapt to shifting power dynamics in recruiting

• Risks include financial literacy gaps and potential exploitation

Kris Trinidad plays defensive end for Old Dominion University’s Division I football team, where he tallied 45 tackles and 5.5 sacks last season. He’s also building his brand thanks to new laws that allow student-athletes to ink endorsement deals and get paid by the university. 

“I feel like it’s teaching young guys how to be more marketable and prepare themselves for their future,” Trinidad said. “It gives them opportunities to express their true selves amongst the community.”

Trinidad is part of the growing class of student-athletes learning to navigate a new world of college athletics, one where player statistics, social media presence and sponsorship potential increasingly all matter.

The Rise Of The Student Athlete

The NCAA has allowed student-athletes since 2021 to profit from their name, image and likeness, or NIL.

The financial shift and its impact on college athletics have been dramatic. College athletes went from landing full scholarships and cost-of-living expenses to earning an estimated $917 million in the first year NIL was enacted, according to Icon Source.

New legislation passed by the Virginia General Assembly in 2024 opened the door for direct payments from schools. This shift is backed by a legal settlement known as House v. NCAA, which will permit schools to allocate up to $20 million annually to pay student-athletes. The case argued current and even former student-athletes deserve a share of revenue generated by television deals, licensing agreements and even ticket sales. It recently received conditional approval from NCAA governance.

Virginia Commonwealth University student-athletes will be paid starting in the 2025-2026 year, with a projected $5 million allocation, according to CBS6 News.

The biggest NIL sums still go to marquee names. First-year Duke University power forward Cooper Flagg has a NIL valuation upwards of $4 million, according to 1075thefan sports website.

However, players of all levels can find opportunities to build their brands. Former Virginia State University running back Rayquan Smith was dubbed “King of NIL” for receiving over 100 NIL deals, according to The Virginia Statesman.

Not Amateurism Anymore

Brendan Dwyer, a professor at VCU‘s Center for Sports Leadership, said the current NIL model is not sustainable for athletic departments.

“If all of a sudden they have to go out and find money through NIL to pay their athletes, it comes at the expense of so many other things for the athletic department,” Dwyer said.

Dwyer thinks schools are heading toward a professional model, and schools and athletes should be prepared. Although it might create other issues, employing athletes could be a solution.

“If you take a step back and you watch what happens on a Saturday afternoon in Tuscaloosa, or you watch what happened last weekend in San Antonio, those aren’t amateur sports,” Dwyer said. “That’s professionalism.”

Community, Coaches And The Changing Game 

Coaches are also evolving in the new era. VCU recently hired Phil Martelli Jr. as its new head coach and he is stepping into the role at a transformative time. Martelli led Bryant University to an America East title and its first NCAA Tournament appearance in March.

“The revenue sharing and NIL stuff is not going anywhere,” Martelli said. “It’s become a major part of this, the transfer portals become a major part of this for everybody, at every level.”

Coaches need resources to get recruits to campus. In most cases, athletes are straightforward in what they’re looking for when choosing which universities to attend, according to Martelli.

“Then it’s up to us to decide what that looks like,” Martelli said. “Is that worth it, is it not worth it?”

Martelli would like to see multi-year contracts for athletes. There would then be the potential for contract buyouts within college athletics, similar to professional sports. Both parties can negotiate the terms and lengths of the contracts and try to find common ground.

 “But right now if you go year-to-year, to have guys jumping in the transfer portal and shopping around, it isn’t the best for everybody,” Martelli said.

Former University of Virginia basketball coach Tony Bennett unexpectedly retired in 2024, saying he no longer felt he was the best coach to lead the program in the current environment. Bennett, who guided UVA to the 2019 national championship, said NIL deals, along with the transfer portal, added aspects to his role that weren’t his strong suit.

“The game and college athletics is not in a healthy spot,” Bennett said. “There needs to be change.”

Community is also impacted when student-athletes solely chase money, said Ben Rekosh, a VCU broadcast student and sports commentator. College sports used to be built on the idea of student-athletes being integral to their community, by contributing to what makes their school and fan base great for three to four years.

“I think that it affects the community a lot,” Rekosh said. “There’s not really players anymore that people are able to to tie their hearts with and have a true connection with, if people are just jumping back and forth.”

Still, he understands why it could be in the best interest of athletes at their peak to move around and maximize their earnings.

One perk of NIL deals is that more college athletes are staying in school instead of going professional immediately, according to ESPN college basketball analyst Jay Bilas. They can continue their education while earning money, versus being pushed toward the pay-to-play professional route.

Top college players may earn more money and playing time than they would as rookies in the pros and would have more experience going into a draft.

New Kind Of Athlete

Athletes are not just a part of the university’s brand; they also have a personal business.

Thai Wilson, sports editor for VCU student-run paper The Commonwealth Times, said fans increasingly follow players, not just programs.

“You remember 2008 Florida winning the March Madness, or VCU making it to the Final Four in 2011,” Wilson said. “People don’t remember the players that played on those teams who made it all the way unless they were either a big name who made it to the NBA, or if it’s just a very memorable run.”

Wilson pointed to top recruit AJ Dybansta’s decision to go to Brigham Young University, a school not known for getting high-profile signees, as an example of how NIL has shifted power dynamics. That can benefit students and give them a better chance to negotiate for what they want.

“NIL’s landscape is starting to kind of open up doors for other programs to get higher recruits if they’re willing to pay for it,” Wilson said.

Risks And Reality

Student-athletes now have new opportunities, but with that comes risk. Especially for younger athletes still learning financial basics. For Trinidad, the key is using NIL to build the athlete experience.

Although NIL deals may give students more power, Trinidad worries some could be exploited by marketing agents or contract deals that they don’t understand.

“Because these guys—they’ll come in, make you a contract and take 10% of your money,” Trinidad said. “It’s something young guys need to be wary of.”

He thinks high school athletics should start talking about brand building, contract literacy and financial management.

NIL deals are relatively new, with many rules in place around compensation and endorsement. Virginia law restricts athletes from NIL compensation from alcohol, cannabis and sports gambling, to name a few.

If the laws change and there is less regulation, there is a chance athletes could be taken advantage of.

“It gives you power, but power in the wrong hands can be bad,” Trinidad said.

Capital News Service is a program of Virginia Commonwealth University’s Robertson School of Media and Culture.