The day has finally come. College athletes will now be able to monetize their name, image and likeness (NIL) through endorsements and sponsorships.
The Division I Board of Directors passed an NIL policy at its Wednesday meeting, and student-athletes will be eligible to profit beginning on Thursday.
Boston College was quick to announce a program called “SOAR” Wednesday evening. It’s designed to help student-athletes build their brands and manage NIL opportunities.
“The SOAR program will give our student-athletes all the tools to help them reach their full potential in regards to building their brand and maximizing their opportunities in the NIL space,” BC AD Pat Kraft said in a statement.
“Being in a world class city like Boston presents so many unique opportunities for our student-athletes to take advantage of, and provides them with the education and support to thrive in this new marketplace.”
In the process, BC is partnering with Athliance, which provides an app for student-athletes to log their NIL endeavors, and Opendorse, a sports technology company that emphasizes brand development. The BC department release mentions that student-athletes will have access to content created by the communications office to boost their marketability.
The pressure was on for the NCAA, as 20 states have already passed NIL legislation. Seven of them are implementing their respective policies on Thursday.
Massachusetts, however, isn’t one of them. But a NIL bill was introduced this past winter, and, if it’s passed, it will go into effect January 2022.
In the meantime, Massachusetts and other states without NIL legislation will abide by the NCAA’s interim policy, which serves as a temporary fix before federal policy is adopted.