‘The sky is the limit:’ March Madness stars have six figures endorsement deals at stake thanks to new rules
Irwin Kishner, co-chair of Herrick's Sports Law Group, spoke to Insider about the new rules allowing college athletes to profit off of their name, image and likeness (NIL) and how the spotlight of March Madness could "provide a big income boost to these breakout stars." The article notes that several stars of college basketball have already signed endorsement deals from an array of sponsors including the first collegiate athlete to be sponsored by Gatorade.
Kishner reflected on the athletes that will emerge, explaining, "I think there will be names coming out of the tournament that you don't know who they are today, but by the time we get into late March, early April, we're gonna know a lot about them...[a]nd I think those folks that are able to do that are gonna do rather well on the NIL front."
The article referenced the possibility of certain athletes cashing in off a "Cinderella run," referring back to previous tournaments when a low seeded team beat a top seeded team. The article stated that Kishner "advised caution on just how much a Cinderella run could be worth, saying there will be some 'immediate' deals, but excitement will temper if that teams falls out of the tournament quickly."
Read the full article in Insider here. Access may require a subscription.