ATLANTA — Friday night lights on the high school football field could mean more than just bragging rights...it could bring money to many Georgia high school athletes.
On Monday, the Georgia High School Association voted yes on NIL deals for high school student-athletes.
Georgia is the 30th state to let high school athletes profit from their name, image, and likeness.
Attorney Jess Cino with Krevolin and Horst said this is a big deal for teen athletes.
“A high school student can now make some income from the use of their name, image, and likeness in connection with potential sponsorships,” said Cino.
Now, here are some of the guidelines for this new ruling, according to the GHSA Law 1.92.
- The compensation is not contingent on specific athletic performance or achievement.
- The compensation is not provided as an incentive to enroll or remain enrolled at a specific school.
- The compensation is not provided by the school or any person acting as an agent for the school.
- The athlete’s school logo, name or uniforms can’t be used.
- The athlete can’t wear school apparel or equipment.
- No faculty member may be used.
- Athletes must obey the school district’s policy.
Cino suggests that students and their families seek professional guidance.
“This could substantially be a decent amount of income for a student. It can affect their financial aid because it changes income. It also has to be reported as taxable income,” said Cino.
Athletes must notify their school within seven days about their NIL deal.
“I imagine that rule is there simply for the sake of transparency,” said Cino.
Many may be wondering, who will get the money from these deals? According to Cino, that money will go to the athlete’s bank accounts.
Typically there’s a custodian of that bank account and that would be their parents or guardians.