My comments above are how it was explained to me.
NIL money is not administered by the school. Schools do not pay for likeness. Most school create cooperatives where money is pooled and administered by the group. However, coaches tell cooperatives who to pay and how much. Players have or perform some service usually charity activities so the members can count their donation as a tax deduction. Other NIL are contracts between players (usually a representative or family member) and for commercials or product advertisements like Nike, insurance etc. QB Williams at SC had about 12 contracts. I wonder how many Cartland Clark has for her $3.5 million.
Will the schools be asking donors to donate to school athletics and separately to donate NIL money?
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