The NCAA just issued a game changing new ruling: For the first time ever, college athletes will now be able to profit off their names, images, and likenesses (NIL). This is one of the most significant changes ever in college sports. Although many details are yet to be ironed out, one thing is for sure: College athletes have more possibility than ever before to sign deals, partner with organizations, and earn money while still in school.


For elite amateur athletes, this new ruling has opened the door to new and exciting opportunity. From the day the ruling came into effect on July 1, athletes across the country have already begun partnering with local restaurants, protein powder brands, social media platforms… and even PetSmart!


With all the new financial opportunities suddenly facing college athletes, it can be hard to know where to start. Here are three simple principles for athletes to follow when taking advantage of the NCAA’s new ruling:


  1. Focus on performance. The NCAA’s ruling opens all sorts of doors for you – but don’t let that distract from the performance that got you to college athletics! It can be confusing to negotiate the right partnerships while also staying focused on your sport, and new financial windfalls can often take people away from the sport at hand. Striking the right balance between self-marketing and performance is key! A trusted Financial Advisor can help you stay focused on your craft by picking through the nitty gritty details of these partnerships and deals while you play.
  2. Build healthy habits. This new income – no matter how large or small – is a gift. And if you start saving some of it now, it’s a gift that’ll keep on giving… all the way until retirement. It’s easy to spend new money quickly, but don’t underestimate the power of financial growth. Allocating just 10% of it to a wealth savings plan can produce amazing results, helping you reach financial freedom later in life.
  3. Be aware of exploitation. With all these new financial opportunities come pitfalls, too. Some people will be looking to profit off of college athletes without giving you a balanced partnership deal. It’s important to consult a trusted financial professional who can advise you on the content of partnerships before you agree to anything – because you deserve fairness.


Professionals like Andy Krajewski at Arbor Financial Services have a long history of working with athletes – in fact, before working with athletes, Andy was one. As a former coach turned Financial Advisor, Andy has experience helping guiding athletes away from the pitfalls of bad deals and towards financial freedom. Schedule an initial consultation with him today.



Written by