ATLANTA — Friday night lights on the high school football field could mean more than just bragging rights...it could bring money to many Georgia High School Athletes.
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On Monday, the Georgia High School Association voted yes on NIL deals for high school student-athletes.
Georgia is the 30th state to let high school athletes profit from their name, image, and likeness.
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Attorney Jess Cino with Krevolin and Horst said this is a big deal for teen athletes.
“A high school student can now make some income from the use of their name, image, and likeness in connection with potential sponsorships,” said Cino.
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Now, here are some of the guidelines for this new ruling, according to the GHSA Law 1.92.
- The compensation is not contingent on specific athletic performance or achievement.
- The compensation is not provided as an incentive to enroll or remain enrolled at a specific school.
- The compensation is not provided by the school or any person acting as an agent for the school.
- The athlete’s school logo, name or uniforms can’t be used.
- The athlete can’t wear school apparel or equipment.
- No faculty member may be used.
- Athletes must obey the school district’s policy.
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Cino suggests that students and their families seek professional guidance.
“This could substantially be a decent amount of income for a student. It can affect their financial aid because it changes income. It also has to be reported as taxable income,” said Cino.
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Athletes must notify their school within seven days about their NIL deal.
“I imagine that rule is there simply for the sake of transparency,” said Cino.
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Many may be wondering, who will get the money from these deals? According to Cino, that money will go to the athlete’s bank accounts.
Typically there’s a custodian of that bank account and that would be their parents or guardians.
CLICK HERE for the original story by WSB-TV.
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