24 Mar Adidas To Create NIL Network
Adidas announced that it would create a name, image and likeness (NIL) network for up to 50,000 college athletes to become paid endorsers for the brand.
According to the company, the network would be open to all eligible student-athletes at Adidas-sponsored schools at the Division I level and could reach over 50,000 athletes across 23 sports.
Some of the power five schools sponsored by Adidas include Indiana, Kansas, Louisville, Miami, Texas A&M, and Arizona State.
The program is expected to begin this fall at those five universities and HBCUs and is planned to be available to all eligible athletes by April of 2023, according to Adidas.
Student-athletes will initially be paid a percentage of the sales they drive at Adidas.com or through the Adidas app and those athletes would have the ability to be paid per social media post.
Adidas said the program will be a “sweeping, equitable network” and will roll out over the next 12 months.
“The Adidas NIL network embodies our belief that sport has the power to change lives by upskilling athletes and giving them the ability to begin to experience an entrepreneurial path that will carry them beyond their college years,” said Jim Murphy, Adidas NCAA program lead, in a release.
The program’s launch follows the Supreme Court decision last year that gave college athletes the ability to profit from their name, image and likeness (NIL).
As of July 1, 2021, the NCAA shifted its economic model allowing student-athletes to monetize their NIL for the first time in the organization’s history.
Adidas is the first brand to create a program that will pay college athletes.
Nike announced in December that it had signed a sponsorship deal with UCLA sophomore soccer player Reilyn Turner, the company’s first student-athlete sponsorship.