In college sports, a NIL deal is a contract that allows athletes to receive compensation for the use of their name, image, and likeness. This type of deal is also known as an individualized sponsorship agreement.
NIL deals are becoming more common in college athletics as schools look for ways to generate revenue and provide financial assistance to athletes. While some argue that NIL deals could lead to higher salaries for top athletes and create an uneven playing field among colleges, others believe that they could provide much-needed support for student-athletes.
At the moment, the NCAA does not allow students to sign NIL contracts; however, this may change in the future. If NIL deals are allowed, it's likely that only a small number of athletes would be able to command high salaries. Nevertheless, even modest payments from these agreements could make a big difference for many student-athletes who struggle to cover the costs of attending college.