Tanner Simkins Weighs In On New NCAA NIL Guidance
Complete SET Agency CEO and founder Tanner Simkins has recently announced that his agency has expanded into the name, image, and likeness (NIL) sector, representing college athletes across multiple sports. Recent news regarding the NIL industry has all the agents talking – and Simkins has lent his experience and expertise to the subject.
On October 26, 2022, the NCAA announced new NIL legislation, which included a host of updated rules clarifying the internet NIL policy – specifically, regarding Division I universities’ involvement. The most significant change is that the new guidance lets coaches assist NIL entities such as third-party collectives with fundraising or autographed memorabilia. However, coaches can’t give cash directly to those organizations.
“When it comes to NIL NCAA member universities are only allowed to do certain things,” says Simkins. “Under the interim policy, they can let student athletes know about potential NIL opportunities, and they can work with NIL service providers to match those opportunities with appropriate students; but they aren’t allowed to negotiate on behalf of an NIL entity or student to secure those opportunities.”
This is where Simkins and his Complete SET Agency come in – because while the new initiative allows schools to support enrolled college athletes in certain ways that can help them profit from their NIL, like providing photos or graphics to the students and/or NIL entities, they can’t provide free services like graphic design, tax preparation, or contract review. The schools also can’t offer any kind of equipment like cameras or computers to student athletes to support NIL activities – unless those options are available to all students.
“These guidelines are designed so that student athletes aren’t given unfair services that other students don’t get,” says Simkins. But while schools can promote NIL activities, they can’t let student athletes promote their own activities while participating in required athletics events like pre- and post-game activities, news conferences, things of that nature. “So these student athletes absolutely need a NIL representative – not just to negotiate for NIL opportunities but to promote them.”
Simkins is founder and CEO of Complete SET Agency, a full-service sports entertainment firm that works with multinational brands, athlete entertainers and accredited investors. Simkins holds degrees from the University of Miami and Columbia University.