Summary: In this episode of Wealth on the Move, host Will Hoffman and NIL expert Kristi Dosh delve into the transformative landscape of Name, Image, and Likeness (NIL) in college sports. They discuss the evolution of NIL rules, the financial implications for student-athletes, and the importance of building a personal brand through social media. Kristi shares insights on navigating contracts, the role of agents, and the tax responsibilities that come with NIL deals. The conversation also highlights the future of NIL, including market inefficiencies and undervalued opportunities for athletes.

Resources:

• Kristi’s Website’s
  • Kristidosh.com
  • Business of College Sports Website
• The Athlete’s NIL Playbook Website
• LinkedIn: Sportsbizmiss
• Facebook: Kristi Dosh
• Instagram: Sportsbizmiss
• TikTok: Sportsbizmiss
• YouTube: Business of College Sports

Takeaways:

• NIL has revolutionized the financial landscape for college athletes.
• The rules around NIL have changed significantly since July 2021.
• Athletes must navigate a complex and evolving NIL environment.
• Written contracts are essential for NIL deals to avoid misunderstandings.
• Many athletes may not need agents but should consider hiring attorneys.
• Tax implications are a crucial aspect of NIL earnings for athletes.
• Social media presence is vital for building a personal brand.
• Athletes should diversify their content beyond just their sport.
• NIL opportunities can extend into coaching and clinics for athletes.
• The future of NIL may see more states allowing high school athletes to participate

Connect with Will Hoffman:

• Hoffman Wealth Management
• (724) 522-5411
• will@hoffmanwealth.com
• LinkedIn: Will Hoffman
• Facebook: Hoffman Wealth Management
• YouTube: Hoffman Wealth Management
• Instagram: Hoffmanwealthmanagement