They are cashing in. From trucks and cars to cold cash, Ohio State student-athletes are wading through the new laws and university policies and are already arising winners. “There’s no limit on the quantity of cash, essentially it is the demand of the market,” said Carey Hoyt, the Senior Associate Athletic Director for Sports Administration at Ohio State. Just in the week, a reported $1.4 million contract for quarterback Quinn Ewers with GT Sports Marketing. She said Ohio State doesn’t negotiate the contracts between a player and a corporation, but every student must disclose who they’re signing with and their contracts.
“We will review them primarily for any restrictions within the state’s law, so there are categories that student-athletes can’t endorse, marijuana, liquor adult entertainment,” Hoyt said. “I’d say the opposite thing we are really focused on is that the use of the Ohio State Logo and any of our trademarks at the university. ” Hoyt said apart from making money, name, image, the likeness is teaching students early about taxes, contracts, and branding. The university has brought in experts to assist students with the method.
“We’ve really done what I feel may be a good job on educating them on negotiating, so now they’re performing on this NIL space before they get their first job,” Hoyt said. But she does admit, she’s unsure what impact NIL could absorb the room. “I think the downside is that the natural team dynamics of your NIL is you as a private versus maybe thinking team all of the time, which are some things that I feel tons of coaches, programs pride themselves on,” Hoyt said.
Even coach Ryan Day has said within the past that he’s still trying to take stock of what NIL will mean to his team now and within the future. “I do think we do get to consider down the road, down the road, a year from now how we spread the cash-out. Because there are tons of men out there who also play football,” Day said. Ohio State has 36 different sports and Hoyt said 28 sports have NIL deals. There’s also no revenue share between the scholars and therefore the university. One exception is that the sale of a Nike jersey with the player’s name thereon. the varsity will then take a percentage.
