New NIL rules effective August 1 are unlikely to impact MSU, assistant AD says

The evolving nature of name, image and likeness, or NIL, has completely changed the collegiate sports landscape since its inception in 2021.

On April 17, 2024, the NCAA Division I Council unanimously voted to change the guidelines to protect student-athletes. 

Effective August 1, the changes require student-athletes to disclose NIL activities. The NCAA will also work with schools to provide standardized contracts, provide voluntary registration through the NCAA for third-party NIL service providers and athletes and expand upon NIL education.

The NCAA already asks that athletes disclose any NIL deals upwards of $600 no later than 30 days after signing an NIL deal. At least twice a year, the NCAA will use the disclosed information to develop a database so student-athletes can better understand the terms and rates of their NIL deals. 20 states already have disclosure requirements.