The NCAA approved of an interim policy that will allow college athletes to earn compensation for their name, image and likeness beginning Thursday. Missouri, with the help of NIL-oriented business Opendorse, created TradeMark, a program to give MU athletes a chance to build, enhance and manage their personal branding.
MU athletic director Jim Sterk said he is excited to provide the student-athletes with resources to enhance their personal brand using TradeMark.
“We are fully committed to developing our student-athletes academically and athletically, and as the collegiate athletics landscape continues to shift in the months ahead, we will provide them with the necessary tools to position them for success as they are presented with new Name, Image and Likeness opportunities,” he said in a news release when Missouri first announced its partnership with Opendorse.
“Without question, it’s a new day in intercollegiate athletics, and we want our student-athletes to be ready for it.”
Missouri representatives and senators have already passed a bill regarding the NIL legislation. The NCAA policy will allow Missouri athletes to take advantage of NIL opportunities, even as the bill awaits the signature of Gov. Mike Parson.
“The support our student-athletes have received from the legislature’s passing of this bill is both meaningful and impactful to current and future Tigers,” Sterk said. “We believe that NIL will have a positive impact on all student-athletes for many years to come.”
The Missouri bill enacts provisions governing the compensation for a student-athlete for contracts and agreements entered into, modified or renewed after Aug. 28, 2021. In its main provisions, the bill:
- Prohibits public or private institutions of higher education from preventing a student from earning compensation for the student’s name, image, likeness rights, or athletic reputation;
- Limits these institutions from preventing a student from participating in intercollegiate athletics if the student earns compensation, or from hiring professional representation as outlined in the bill;
- Prohibits the postsecondary educational institution from revoking or reducing any grant-in-aid or stipend if a student earns compensation;
- Limits a student athlete from entering into any contract for compensation that requires the athlete to display a sponsor’s apparel, equipment, beverage, or otherwise advertise for the sponsor during official team activities if it would conflict with the provisions of the athlete’s team contract;
- Requires a postsecondary educational institution that enters into a commercial agreement that directly or indirectly requires the use of an athlete’s name, image, likeness, or athletic reputation to conduct a financial development program, as specified in the bill;
- Specifies that an attorney or agent representing an athlete must be licensed in Missouri;
- Allows any athlete to bring a civil action for appropriate injunctive relief or actual damages, or both against third parties violating this provision in the county that the violation occurs; and
- Specifies that any student shall not be deprived of any protections provided under law with respect to a controversy that arises, and shall have the right to adjudicate claims that arise under this provision.