Jonathan Miller, CPA, and Taylor Madwin updated Miller’s earlier book focusing on athletes and making the right decisions before executing professional contracts and consumer contracts. This latest publication, Wait! Don’t Sign That “NIL” Contract: The Go-To Guide for the Collegiate Athlete and their families for NIL Money, Jones Media Publishing, 2024, offers helpful information for families seeking an understanding of the Name, Image and Likeness (NIL) rules for high school and college sports.
In the first book, Wait! Don’t Sign That Contract: A Financial Gameplan for the Transition into and out of Athletics for the Collegiate and Professional Athlete, Miller targeted student-athletes seeking to take full advantage of name, image and likeness (NIL) opportunities, in addition to those student athletes who as Miller described, “hit the lottery” by entering professional sports through a draft or otherwise.
In the sequel to the 2019 book, Miller and Madwin explain that at the time of publication, the NCAA developed some rules, but the more significant and “governing” rules that impact students come from specific states. In many cases, specific university and college student sport activity rules may provide more specific rules regarding NIL practices. Miller and Madwin provide information on how to start navigating an understanding of those rules.
Miller and Madwin provide guidance on the issues that could pose challenges to a student’s eligibility to represent a university or college in its sports program. They also provide the groundwork for the variety of questions that should be considered in determining a course of action at any point in the NIL process.
The authors remind the reader that the student most likely will need the help of professionals in the legal, accounting, and financial advising field to ensure that the student manages the regulatory maze associated with NIL. They point out that although the NIL contract may not directly deal with the student’s athleticism, contracts for endorsement and marketing deals, along with personal brand marketing, require close monitoring. If the student is not an adult, a representative may be required who can act in the student’s best interests.
Miller and Madwin offer thoughtful suggestions for how a student can pursue NIL without forcing daily social media materials. The suggestions allow the student to pursue personal interests in community engagement, or work in lower profile settings. They also review some updated changes worth reviewing in accounting and the law pertaining to small businesses, or limited liability corporations. Their review of the basic contract, accounting and financial business terms remains a key part of this NIL book.
Wait! Don’t Sign That “NIL” Contract: The Go-To Guide for the Collegiate Athlete and their families for NIL Money, by Jonathan Miller, CPA, and Taylor Madwin, can be found on Amazon and most online book sources.
Yvonne R. Hunter, Esq. is a licensed attorney and Principal Consultant for YH Strategies, LLC, in Phoenix, Arizona. She serves as a panel member of the American Arbitration Association (AAA) handling consumer arbitration issues and as a mediator for similar matters. After a stint with the Arizona Department of Insurance, she learned that many consumers remain unaware of some of the issues associated with insurance products. This blog reflects her opinion and should not be regarded as legal advice. She encourages consumers interested in learning more about their own insurance experience to contact their state department of insurance or insurance commissioner or seek advice from an attorney. If you would like additional information on matters dealing with consumer insurance products, you can reach Yvonne at (602) 463-9401 or yvonne.r.hunter@icloud.com. Visit her website: yhstrategiesllc.com.