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Saturday, February 24, 2024
Rates for the 2024 Best Venue Awards increase this Sunday at 11:59 p.m. ET

Floodgates Open for College Athlete Endorsement Deals

  • Just a week after the NCAA allowed college athletes to make money on endorsement deals, players are wasting no time.
  • Dozens of deals with large companies and local businesses have already been established.
Nell Redmond-USA TODAY Sports/Design: Alex Brooks

If you want to know how the new NIL regulations are changing life for college athletes, just ask members of the University of Miami Hurricanes football team.

The 90 scholarship players on the team were all offered the same deal by a Florida-based mixed martial arts gym: $500 per month to promote the business on social media.

Should every player accept the offer, the combined $540,000 would be one of the largest endorsement deals for college athletes since the NCAA allowed players to make money from sponsorships beginning July 1. 

Master P’s son Hercy Miller reportedly inked a $2 million deal with tech company Web Apps America. Other standouts from the NIL era:

  • Miami quarterback D’Eriq King and Florida State quarterback McKenzie Milton were announced as co-founders of Dreamfield — a platform that helps college athletes book live events. 
  • LSU defensive back Derek Stingley Jr. signed a deal with restaurant franchise Walk-On’s.
  • Fresno State basketball players Haley and Hanna Cavinder, who are twin sisters and have 3.4 million TikTok followers, announced deals with Boost Mobile and Six Star Nutrition. Boost was acquired by Dish Network last year for $1.4 billion.

The NCAA made $519 million in revenue last year, down dramatically from the $1.18 billion it took in the previous year due to pandemic-related cancelations.

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