It’s been two years since the NCAA enacted the name, image, and likeness (NIL) policy. Previously, NCAA athletes were unable to receive any financial compensation for any brand deals. The legislation opened the door for student-athletes to enter into any endorsement deals where they can profit off their name, image, and likeness.
Olivia Dunne, an LSU gymnast, makes about $1 million in NIL deals annually, making her the highest-paid female college athlete in the country. In the video above, Dunne shared her advice to incoming college athletes on how to navigate the new rules and how to best balance the influx of money as a college student. ‘For other athletes, especially, that are in college, I would say spend your money like a college student, put all that money away, invest it, and just spend it like a normal college kid’ says Dunne.
Full Video Transcript Below:
J.D. DURKIN: Olivia, I'd love to ask you more about NIL. The rules of this in terms of college athletes are changing. We cover it very closely. This intersection of athletes with money. What advice would you have for other athletes who are maybe just beginning their college careers and also similarly, maybe to you, trying to figure out how the rules of the game go for themselves?
OLIVIA DUNNE: Yeah, I would say first and foremost, find a really good agent. That was the first thing I did. And just take your time. Don't rush into anything. Don't be in a rush to make a lot of money. Take your time because it'll come. NIL is such an unprecedented area. At first, when it changed, nobody knew really what was going on. I didn't. LSU didn't, and other universities didn't, and the brands didn't know either. So, to just take your time and the money will be there.
J.D. DURKIN: What advice would you have for other athletes who are learning just to really face a large earning potential for the first time like you did?
OLIVIA DUNNE: Surround yourself with trustworthy people. That's what I would say. I have my family, my coaches, my team, very trustworthy people. Make sure there's people that aren't going to use you for that money. For other athletes, especially, that are in college, I would say spend your money like a college student, put all that money away, invest it, and just spend it like a normal college kid.
