Hartford Business Journal

13 HARTFORDBUSINESS.COM | JULY 26, 2021 relate to the college-age players they're working with. "A creative young entrepreneur is going to see an opportunity," said Robert Romano, an assistant professor of sports management at St. John's University in New York City. "It's going to be someone younger who understands the importance of social media." Up until this year, the NCAA had barred college players from accepting any compensation that could be construed as a "pay to play" arrangement, arguing that it was necessary to keep college athletics distinct from professional sports. That position faced increased scrutiny as colleges and universities signed multimillion-dollar contracts to televise basketball and football games, and in 2014 the U.S. Supreme Court ruled that the organization's ban on certain payments to players violated federal antitrust laws. A second high-profile case before the Supreme Court this year largely reaffirmed that decision, formally opening the door to the NIL era. Some gray areas But the ruling leaves more questions than answers, especially Last Modified Art Director 1" = 1" CT Commercial Lending Print Layout None Project Bleed Project # Document Name 21-LBB-0045_FY21_CL_HBJ_10x6.75_M1_V1.indd 21-LBB-0045 Version # M1_V1 BB NB Colors In-Use Fonts and Linked Graphics Forma DJR Deck Regular DIN Condensed Light Forma DJR Display Bold Cyan Magenta Yellow User Printer Output Date 7-15-2021 7:57 AM Becky Bowman None 7-15-2021 7:57 AM Mech Scale Print Scale Mechd By: BB RTVd By: None M1_V1 For nearly 200 years, Liberty Bank has been behind companies that think big. We provide commercial loans, mortgages, and working capital lines of credit that can be tailored to meet your business's current needs and those in the future. Loans for $1,000,000 and up. Scan the QR code to call a Commercial Lending Officer today or visit liberty-bank.com/ct-commercial-lending to find a local lender. Loans, lines of credit, owner-occupied and investment mortgages up to $50 million. All loans are subject to credit and underwriting approval. Member FDIC Equal Housing Lender Seven-figure business loans for million-dollar ideas. Liberty Bank was part of a multi-bank fi nancing deal behind Goodwin University's acquisition of the University of Bridgeport in May 2021. CP26054_21-LBB-0045_FY21_CL_HBJ_10x6.75_M1_V1.indd 1 CP26054_21-LBB-0045_FY21_CL_HBJ_10x6.75_M1_V1.indd 1 7/16/21 5:06 PM 7/16/21 5:06 PM create. "I've seen some of the contracts going around, and they're not putting the student athletes in the best position," Muir said. "Brands are getting ridiculous deliverables in exchange for small dollars." Openings, opportunities This new reality could end up creating more headaches than opportunities for agents, including several based in Connecticut, according to Belzer. "Within the established sports agencies, [NIL] is one of the worst things that could have happened," he said. "Maybe not the worst thing, but it's certainly not beneficial." Before the NCAA rule change, agents could largely wait on the sidelines, scoping out exceptional players over the course of their college careers and moving in with offers as the players prepared to go professional. Now, Belzer said, agents will feel the pressure to preemptively sign underclassmen who may be promising but ultimately unproven just to cement a future business relationship. "Before, you would have just signed Trevor Lawrence," he said, referring to the Clemson University star quarterback and first overall pick of the 2021 NFL Draft. "Now, you have to sign 20 kids and hope that one of them is Trevor Lawrence." Others, however, see an opening for agents who can more directly Robert Romano when it comes to the level of control colleges and universities can exert over student endorsements. The University of Connecticut, for its part, has brought some clarity to the issue by adopting a formal set of NIL-related policies. The rules require that student athletes disclose all agreements they enter into and prohibits them from using any university logos or marks in their paid advertising. Coaches, boosters and staff are barred from helping facilitate endorsements. The university is also partnering with Opendorse to educate student athletes about building and protecting their brands and rights. Still, industry insiders see gray areas. Romano said the NIL era could pose a challenge for college athletic departments if major brands decide that, instead of sponsoring an entire team, they only want to do business with one or two standout players. That change would not only hurt a lucrative athletic program like basketball or football but also the many non-revenue-generating sports they fund. Linta worries about the role alumni could play in recruiting players and steering them toward certain sponsorship deals. At some point, the interests of the players and their school are bound to be tangled up. "It's opening Pandora's box," he said. Earlier this year Paige Bueckers became the first college freshman to win the Naismith College Player of the Year award. CONTRIBUTED PHOTO | UCONN

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