WASHINGTON - For years, universities have made millions of dollars off athletes' performances while the players received no compensation.But the economic inequities many athletes endured for decades in college sports have significantly changed with NIL deals.
And one college athlete is showing everyone else how it’s done. NIL stands for name, image, and likeness. On July 1, 2021, the NCAA implemented a policy allowing all incoming and current student-athletes the opportunities to earn money from NIL deals.According to the NCAA, individuals can engage in NIL activities consistent with the law of the state where the university is located.One college athlete reaping the benefits of NIL deals is someone you may not have heard of because he is not at one of the top Division I schools, but he’s building a substantial brand playing for an HBCU.
Rayquan Smith is a two-sport athlete at Norfolk State University in Virginia. He’s a running back on the football team and a decathlete on the school’s track team.It’s not just what Smith is doing on the field, but what he’s accomplishing off it.
The 21-year-old is known around college sports as the "King of NIL" based on the 70 endorsement deals he’s signed during the past year.Smith said he reached out to 100 companies to gauge their interest in signing him to an endorsement deal.