As of yesterday morning, the NCAA announced their selection for the company that will help them provide NIL management services. Let’s talk about who they chose, what this deal entails, and what it means for the NIL industry.
In a bid to navigate the complex terrain of name, image, and likeness (NIL) rights for student-athletes, the NCAA has joined forces with Teamworks, a leading provider of athlete management solutions. Under this collaboration, Teamworks will offer its expertise to streamline the disclosure process of NIL activities while delivering crucial education and insights to athletes and member institutions. The rollout of these initiatives is scheduled for August 1, promising enhanced support and resources for student-athletes embarking on their NIL journeys.
The partnership entails Teamworks developing a robust system for collecting and managing disclosures of NIL activities, alongside furnishing educational resources for all stakeholders involved in the NIL ecosystem. Moreover, Teamworks will establish a registration platform for agents and other professionals offering NIL services, ensuring transparency and accountability in the industry.
Dave Schnase, NCAA’s vice president of academic and membership affairs, emphasized the importance of transparency in the NIL landscape, expressing his optimism about the collaboration’s potential to empower student-athletes. Similarly, Zach Maurides, CEO of Teamworks, highlighted the company’s commitment to supporting athletes through user-friendly technology and educational initiatives.
Central to the collaboration is the creation of a voluntary registry, serving as a comprehensive database for service providers catering to student-athletes. This registry will incorporate rating and dispute resolution mechanisms, bolstering trust and efficiency in NIL transactions. In addition, and aligning with new Division I regulations mandating disclosure of NIL agreements generating $600 or more in income, Teamworks will deploy a mobile-friendly solution for athletes to submit relevant information. This aggregated database, while preserving anonymity, will offer valuable insights for policymaking.
Education lies at the core of the initiative, with a diverse range of topics covered in both digital and in-person formats. From NCAA legislation to tax implications and responsible social media engagement, these materials aim to equip athletes with the knowledge needed to navigate the evolving NIL landscape effectively.
Savannah NIL 