We've all known that NIL rules would be coming into effect for quite some time and now that the time has arrived here in July of 2021, I figured it was time to bring in an expert to weigh in!
For those unfamiliar, NIL (which stands for "name, image and likeness") now allows athletes to capitalize on their name, image and likeness in ways previously not allowed. Players are able to seek marketing representation or advisory, participate in marketing or branding off their own likeness, open a business, start a camp or clinic, or engage in non-profit activity.
It's a big step in the right direction in allowing athletes to prepare themselves for the real world, but there needs to be education to avoid potential pitfalls.
That's where someone like our guest, Luke Fedlam comes in for support. He's had over 15 years of experience working with professional athletes in representing (or protecting as he says throughout the episode) their marketing interests. On the show, Luke brings valuable insight on defining what the rules are today, trends through the first month of NIL and lessons on what to look for in contracts.
The Timeline:
5:00 - "This is what I wanted" & Luke's Passion for NIL
9:15 - Luke's "Aha" Moment for NIL Education
13:00 - "Without using your job title, who are you?"
19:40 - Branding Advice: Character & Authenticity
25:00 - Defining NIL & What It Means
28:50 - Early Trends in the First Month of NIL
35:34 - The Role of Athletic Departments, Compliance and Advisors in NIL Education
41:46 - Lessons Learned from Zion Williamson's Contract
48:36 - Wanting to be President of the US as a kid
To find and follow Luke Fedlam's work, check him out on Twitter at @LukeFedlam! Also, the interview by Columbus CEO that was referenced in this episode can be found at the following link - "In the new world of NIL, Luke Fedlam guides athletes on money, deals and the future"!
Thank you for taking time to listen, please let me know what you thought of the show and don't forget to leave a review after you drop that 5-star rating!
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