If you follow college sports (and if you live in South Carolina, you probably do) you will have heard that the NCAA recently issued guidance that permits college athletes to profit from licensing their name, image, and likeness (“NIL”). This means that college athletes can now monetize their fame by licensing their name, image, reputation, face, etc., without forfeiting their eligibility. The State of South Carolina also recently passed legislation known as Intercollegiate Athletes’ Compensation for Name, Image or Likeness, S.C. Code §§ 59-158-10 to -80 (“SC NIL”), and amended certain other legislation to permit collegiate athletes to receive compensation for their name, image or likeness. Per the NCAA’s guidance, NCAA member-schools and athletes in South Carolina must follow South Carolina’s NIL laws.
Navigating these new NIL rules can be complicated, and athletes and businesses in South Carolina should ensure that they thoroughly understand SC NIL rules before entering into NIL contracts. This blog outlines some key considerations: