Frequently Asked

NIL (Name, Image, Likeness) is a commercial agreement between you and a brand. Revenue Share is a direct payment from your school out of the $20.5M athletics revenue cap created by House v. NCAA. They are completely different systems with different rules, different taxes, and different strategies. Confusing them is the most common and costly mistake athletes make.

It depends on your school, your conference tier, and your sport. P4 football players average $28,600 per year. P4 men's basketball averages $17,000. G5 allocations are approximately 38% of P4 rates. Walk-ons and some non-revenue sports may receive nothing. Run the Revenue Share Engine on the calculator page for your estimated range, then verify with your athletic department.

Yes. NIL income is self-employment income. You pay income tax AND self-employment tax (15.3%) on every dollar. No withholding happens automatically. You are responsible for quarterly estimated tax payments. Set aside 28-35% of every payment immediately in a dedicated tax reserve account. Missing quarterly payments triggers IRS underpayment penalties.

54 schools have opted out of the House v. NCAA revenue share system as of 2025. If your school opted out, you receive $0 from that system. Revenue share is not legally mandated for every school. Your NIL options (brand deals, collectives) are still available and may be your primary path. Consider whether your school's opt-out status changes your transfer calculus.

Read every clause. The four most important: exclusivity scope (what brands are you blocked from working with?), content approval rights (can the brand reject your posts?), usage rights (for how long can they use content you create?), and payment timeline (when exactly do you get paid?). Use the Deal Evaluation Engine before agreeing to any terms.

You do not legally need one to earn NIL income. But an LLC separates your personal assets from your business liabilities, allows you to invoice professionally, and is required by some brands before they will process payment. The cost is $50-200 depending on your state. If you are earning more than a few hundred dollars, form one.

An NIL Collective is a booster-funded organization that pays athletes NIL fees from pooled donations. It is separate from your school's athletics budget and separate from Revenue Share. Collective payments are NIL income (self-employment tax applies). Revenue share comes directly from your school. They are different sources, different structures, and different amounts.

Most states now allow some form of high school NIL, but rules vary significantly by state. High school NIL is governed by your state's High School Athletics Association (HSAA), not the NCAA. The most common restriction is the use of school name, logo, or uniform in commercial content. Check with your state's HSAA before any commercial activity.

Entering the portal does not obligate you to transfer. Many athletes enter the portal to gather information about their market value and use it as leverage in conversations at their current school. If you decide to stay, you can withdraw from the portal. Talk to your compliance office about the specific window rules for your sport.

Start local. Restaurants, car dealers, local businesses, and regional brands are significantly easier to close than national ones. They also provide the references and deal history that make national brands more likely to engage later. Build your media kit, identify 3-5 local businesses in your market, and initiate outreach directly. The goal is your first completed deal, not your biggest one.

The Deal Evaluation Engine is an educational tool that scores deal terms based on rate, duration, exclusivity, content approval, and common red flags. It returns GOOD DEAL / NEGOTIATE FIRST / DO NOT SIGN AS-IS. It is not legal advice and does not replace attorney review. Use it as a first filter before any deal conversation, and get legal review for any contract above $500 or with any exclusivity clause.

Sherman University is an educational initiative by NIL Matters founder Shawn Jones (Vyro Companies) designed to build financial and business literacy for athletes, advisors, and parents navigating the NIL landscape. NIL Matters is its public-facing platform.