The economics of college sports changed in a seismic shift on July 1, 2021, when the National Collegiate Athletic Association (NCAA) adopted an interim policy allowing student-athletes to be compensated for the use of their name, image, and likeness (NIL) without impacting their NCAA eligibility. The earnings potential for nearly half a million college athletes changed radically overnight following this policy change. Boosters, supporters, and fans of college athletic programs quickly raced to establish "NIL collectives" to develop, fund, or otherwise facilitate NIL deals for student-athletes.

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