Cash In: Michigan Outlines New NIL Guidelines

As of today, college athletes all across the country are now permitted to receive compensation thanks to the approval of new NIL guidelines.

For its part, the University of Michigan released an outline that highlights what athletes are permitted to do under the new guidelines. You can read the entire release below.

Via Mgoblue.com:

The University of Michigan supports student-athletes receiving compensation for the use of their name, image and likeness from sources outside the University consistent with the requirements of the future Michigan state law and limited guidance provided by the NCAA.

Name, Image and Likeness is a rapidly evolving area and, as such, the following information will be subject to ongoing review and revision as circumstances, laws and regulations change. Student-Athletes and those connected with U-M Athletics should refer back to this page frequently for the most up-to-date information. A link to U-M's complete NIL Policy is available for download at the top of this webpage. Highlights of the policy are provided below.

General Provisions

Student-athletes' use and monetization of their name, image and likeness may involve a wide range of activities including but not limited to:

Traditional commercials or advertisements for products or services
Student-athletes developing and promoting their own business
Personal appearances
Student-athletes running their own camps or clinics
Providing private lessons (and using their name or image to promote those lessons)
Sponsored social media posts
Autograph sessions

There are no limits on the amount of income a student-athlete may earn through name, image and likeness activities provided any compensation is for work actually performed.

International student-athletes should confer with the International Center to understand what their visa permits in this area.
Student-athletes should be aware that their name, image and likeness income would likely be considered taxable income. Student-athletes should consult with an appropriate tax professional about the tax implications of any compensation they earn.

Student-athletes may not receive compensation which is conditioned or contingent on enrolling at, or continuing enrollment at any specific collegiate institution, or on any specific athletic performance or achievement. Student-athletes may not miss required educational obligations (e.g. class, exams or scheduled tutor/mentor sessions) or required team activities for any name, image and likeness activities.

A student-athlete's involvement in name, image and likeness activities will not relieve the student-athlete from the obligation to comply with all NCAA, University and Michigan Athletics academic standards, requirements, regulations or obligations; team rules of conduct or other applicable rules of conduct; standards or policies regarding participation in intercollegiate athletics; or disciplinary rules and standards generally applicable to University of Michigan students.

Compensation received for name, image and likeness activities may not be used as a basis to reduce or cancel any student-athlete's athletics aid.

Any income received by a student-athlete could impact that student-athlete's eligibility for need-based financial aid.

Disclosure and Review

From July 1, 2021 until July 15, 2021, student-athletes must disclose any name, image and likeness activities as soon as practicable. Beginning July 16, 2021 and going forward, consistent with Michigan House Bill 5217, student-athletes must disclose any name, image and likeness activities at least seven (7) calendar days prior to entering into an agreement for the proposed activity.

Role of the University

The University of Michigan is not responsible for providing or procuring name, image and likeness opportunities for any student-athlete(s).

The University of Michigan is not responsible for any tax liabilities or other costs student-athletes incur as a result of their choice to engage in name, image and likeness activities.

Student-athletes, like all students and staff of the University, may not use the University name, trademarks, service marks, logos, symbols, or any other intellectual property, whether registered or not, without appropriate licensing approval.

University Resources and Reputation

Those who have chosen to be a student-athlete have chosen to act as public representatives of the University and may not engage in name, image and likeness activities that may harm the reputation of the institution. This may include but is not limited to: promoting products or services such as gambling, adult entertainment, tobacco, or banned substances.

Student-athletes may not engage in any name, image or likeness opportunities for compensation during any organized team activities (e.g. practice, competition, team travel, team-organized media appearances, team or university promotional events, etc).

Student-athletes are not permitted to sell or trade any equipment, apparel, awards or complimentary admissions provided to them by the Michigan Athletic Department as part of any name, image or likeness activities.

Professional Advisors

Student-athletes may retain and use the services of professional advisors to assist them in their name, image and likeness activities, such as marketing agents, tax advisors, legal advisors, etc. Student-athletes must pay the normal costs and fees associated with such services.

Please note, however, student-athletes may not employ an agent for the purpose of negotiating with professional athletic teams or organizations without jeopardizing their collegiate athletics eligibility.