The State of Florida has passed a law (Senate Bill 646; Florida Statute Section 1006.47) that permits a college athlete to earn compensation from the use of her or his name, image, or likeness (“NIL”). The law is set to take effect on July 1, 2021. The law provides that regulations and rules will be adopted to implement the law. The law contains a list of specific requirements, including:

The money earned by a college athlete for use of her or his NIL must be “commensurate with the market value of the authorized use of the athlete’s name, image, or likeness,” may not be provided “in exchange for athletic performance or attendance at a particular institution,” may only be provided by “a third party unaffiliated with” the athlete’s college, and cannot affect (i.e., reduce or revoke) the athlete’s grant-in-aid, cost of attendance, or eligibility.
A college cannot create contracts or rules that prohibit an athlete from earning money for use of her or his NIL.
A college athlete is permitted to obtain professional representation by an athlete agent or lawyer for the purpose of securing compensation for use of her or his NIL. The athlete agent must be licensed by the state of Florida and the lawyer must be a member in good standing of The Florida Bar. The duration of a contract for representation of a college athlete or compensation for the use of the athlete’s NIL may not extend beyond her or his participation in a college athletic program.
Any contract between a college athlete and third party involving the use of the athlete’s NIL must be disclosed to the college at which she or he is enrolled.
A college athlete cannot enter into a contract for compensation for the use of her or his NIL if a term of the contract conflicts with a term of the college athlete’s team contract.
College athletes under the age of 18 must obtain approval of NIL contracts pursuant to a special court approval process.
Colleges must conduct a financial literacy, life skills, and time management workshop for athletes. The workshop may not include marketing, advertising, referrals, or solicitation by providers of financial products or services.

Please contact Joel Ewusiak, a licensed Florida lawyer, for legal assistance with NIL contracts and to ensure compliance with applicable laws and regulations governing the compensation paid to college athletes.