NIL
Assessing the 'fair market value' of affiliated NIL deals under the House settlement
On April 23, Judge Claudia Wilken tentatively found that she could grant final approval of the landmark settlement in the House litigation, with the exception of certain proposed roster-limit provisions. While the parties work to address the remaining roster-limit issues, universities, conferences and athletes are otherwise continuing to prepare for final approval of the settlement, […]


On April 23, Judge Claudia Wilken tentatively found that she could grant final approval of the landmark settlement in the House litigation, with the exception of certain proposed roster-limit provisions. While the parties work to address the remaining roster-limit issues, universities, conferences and athletes are otherwise continuing to prepare for final approval of the settlement, including the much-discussed provisions that will permit schools for the first time to share revenue directly with student athletes up to a “cap,” initially set at $20.5 million per school, for the 2025-26 season. The settlement terms also include new rules that will govern NIL deals that college athletes may enter.
Specifically, under the proposed settlement, college athletes can continue entering NIL deals both with entities (or individuals) affiliated with their universities and with unaffiliated third parties. Any NIL deal worth more than $600 must be reported to a third-party clearinghouse, which Deloitte will operate. Further, under the settlement, any NIL deal with an affiliated entity must be “for a valid business purpose” with “compensation at rates and terms commensurate with compensation paid to similarly situated individuals with comparable NIL value.” If it is determined that an affiliated NIL deal does not comply with this standard (which some have referred to as the “fair-market-value test”), an athlete may challenge the determination in arbitration.
The purpose and intent behind the restrictions on affiliated NIL deals is clear: Universities cannot use NIL deals with affiliated entities to circumvent the new revenue-share cap. However, the proposed provisions beg a number of questions.
For instance:
- What makes two college athletes similarly situated? The sport they play? Their geographic location? The market reach of their athletic programs? Is a football player in Southern California similarly situated with a basketball player in Kentucky or a gymnast in Louisiana?
- Further, how will it be determined whether athletes have comparable NIL value? Does sport or market factor into that analysis? Is it dependent on how many social media followers an athlete has, or whether the athlete has prior NIL deals?
- And how does one determine whether NIL deals in different markets and with different terms are commensurate? Can you compare a non-exclusive deal with an exclusive deal, or a short-term deal with a longer-term deal? Can you compare NIL deals in different media markets or even different product markets? If you can make these sorts of comparisons, what adjustments, if any, need to be made to make the comparisons apples-to-apples?
The settlement does not answer any of these questions. And while the penalties for universities that violate the so-called “fair market value test” have not yet been announced, many expect the penalties to be severe to deter violations and ensure compliance with the cap. Given the potential consequences, it will be imperative for affiliated entities to ensure their deals will hold up if challenged.
Although the settlement provides little guidance on how the new test will be implemented, assessing the market value of an agreement’s terms is not a novel concept. Parties have litigated that issue for decades in a variety of contexts. When goods are homogeneous and sold frequently, like shares of a company’s common stock, it is often easy to determine market value. In such circumstances, there is a recognized market with readily identifiable terms reflecting the market price. The analysis becomes more difficult, however, when the good or service in question has unique characteristics, which is often the case when intellectual property is involved. In these cases, parties often look for relevant benchmarks or comparable transactions in the industry, if any, as a measure of market value. If there are no benchmark deals directly on point, the parties may use relevant benchmarks or market data they can find and make adjustments to the terms, as needed, for a more apples-to-apples comparison.
Based on the nature of NIL rights, NIL deals will likely fall into this latter category — athletes’ NIL rights are simply not homogeneous goods. And while the market for NIL rights will continue to mature, and certain market rates may generally develop for certain types of deals, there are bound to be differences in the terms and compensation of NIL deals based on the athletes involved, the rights granted, and the scope of the agreement.
The entertainment industry provides a potential window into how NIL agreements with affiliated entities may be evaluated. For years, participants in motion pictures and television series (e.g., writers, producers, actors or companies with a contractual right to share in certain defined proceeds) have challenged the terms of licenses studios have entered with affiliated entities. And, much like the proposed terms of the settlement here, many studios have standards addressing and defining how to evaluate affiliated transactions. While these provisions vary by studio, they often examine the terms of similar, unaffiliated transactions that the studio enters — i.e., the terms of an affiliated transaction may be compared to the terms of unaffiliated transactions that the studio enters. A studio thus can look at its own universe of unaffiliated agreements to help evaluate the terms of an affiliated transaction.
The settlement’s mandatory reporting requirement for any deal over $600 will help Deloitte build a repository to evaluate the terms of affiliated NIL deals. But it will be in the best interests of the schools and their athletes to track what is happening in the market to mitigate any risk of penalties for non-compliance with the so-called “fair market value test,” especially given recent reports that Deloitte has indicated that 70% of all prior NIL deals with affiliated entities would have been denied under the new standard. The more data and NIL deals schools and their affiliated entities have access to, the better. And if schools can point to similar deals their athletes have entered with unaffiliated parties, that may prove helpful in demonstrating the value of an affiliated NIL deal under the new test.
Tim Heafner is a litigation partner in the Entertainment, Sports, and Media group at O’Melveny & Myers, with significant experience in college athletics and other high-profile sports and entertainment disputes; Max Rothman is a litigation counsel and Ethan Hicks is a litigation associate with O’Melveny.
NIL
SB | Sam Buckley Checks in at #98 in the Inaugural D1Softabll Mid-Major D100 Player Rankings
Story Links MORAGA, Calif. — Due to an increasing interest in Division I Mid-Major Softball, D1Softball.com has released their first ever “D100” Mid-Major Softball player rankings following the 2025 season. Checking in on the list at #98 is a familiar face to Gael fans, sophomore third baseman Sam Buckley. Buckley was one […]

MORAGA, Calif. — Due to an increasing interest in Division I Mid-Major Softball, D1Softball.com has released their first ever “D100” Mid-Major Softball player rankings following the 2025 season. Checking in on the list at #98 is a familiar face to Gael fans, sophomore third baseman Sam Buckley. Buckley was one of just two WCC Players to make the list, joining reigning WCC Player of the Year Cairah Curran of Santa Clara, who checked in at #94.
After arguably one of the best freshmen seasons in program history in 2024, Sam Buckley’s encore performance in 2025 was all the more spectacular. The Burbank, California native set new single season records for home runs (14), runs scored (47) and RBI (41), and became just the fourth Gael in program history to finish a season with a batting average better than 0.400. Buckley led the WCC in on-base percentage (0.523), slugging percentage (0.818) and OPS (1.341), and committed just two errors at the hot corner all season.
The Gaels faced off with many players on this list, including Aaliyah Jenkins (Nevada, #4), Sophia Knight (Boise State, #12), and Makenzie Butt (Boise State, #18). There’s no question that the level of softball continues to grow at the mid-major level, and the Gaels are no exception, now back-to-back WCC champs, and looking for more in 2026, charged by Sam Buckley and company.
#GaelsRise
NIL
Ohio State’s Top Freshman is Missing From College Football 26
As the follow-up to the most successful and celebrated sports video game in American history, gamers will predictably want to jump into College Football 26 as soon as they can and explore the new features. And, in some cases, new players from a really good freshman class. Unfortunately, not all of the highly touted fresh […]

As the follow-up to the most successful and celebrated sports video game in American history, gamers will predictably want to jump into College Football 26 as soon as they can and explore the new features. And, in some cases, new players from a really good freshman class. Unfortunately, not all of the highly touted fresh faces will be present in the game. At least, not at launch. And one of them hails from one of the most prestigious colleges in the nation.
Ohio State is one of the most celebrated and decorated college football programs out there. Boasting 9 national championships, 41 conference championships, and 10 division championships, the Buckeyes are among the crème de la crème of college football. In turn, many of the country’s most talented young football players commit to Ohio State each year, as being part of such a prestigious program often leads to larger media exposure and more looks from NFL scouts. Heck, this year, the two highest-rated players in CFB 26 are Ohio State players — Jeremiah Smith and Caleb Downs.
But one of the Buckeyes’ most publicized new acquisitions won’t be in the game at launch.
Considered the 8th-best cornerback prospect in the nation out of high school, Devin Sanchez will be making his debut as a freshman this year for Ohio State. Unfortunately, he will not be present at launch in College Football 26.
While the reason for Sanchez’s omission is officially unknown, it likely comes down to the NCAA’s eligibility rules. Even if he’s one of the country’s most promising young talents, nothing is a guarantee. Therefore, until he plays a down for Ohio State, don’t expect to see him in the game.
There is hope, though. In October last year, EA provided College Football 25 with a large roster update that added over 700 NIL players to the game. So if Sanchez gets some burn between now and the fall, Ohio State fans can definitely expect to see him added to CFB 26 as well. Depending on how EA treats him, it might give OSU one of the most deadly secondaries in the game as well (they technically already have an amazing secondary, but another highly-rated corner would put them over the edge).
NIL
Top college football head coach calls for NIL reform as calls mount for change
Longtime Army head coach Jeff Monken is wary about the current state of the transfer portal as Name, Image and Likeness opportunities continues to entice college football players to search for what they believe to be greener pastures. Monken enters his 12th season at the helm after leading the Black Knights to a school-record 12 […]

Longtime Army head coach Jeff Monken is wary about the current state of the transfer portal as Name, Image and Likeness opportunities continues to entice college football players to search for what they believe to be greener pastures.
Monken enters his 12th season at the helm after leading the Black Knights to a school-record 12 wins in 2024 with the program’s first finish inside the College Football Playoff Top 25 (No. 22).
Having started his college coaching career back in 1989, Monken has been a part of the major shift in college athletics in light of the transfer portal/NIL era. He doesn’t think college football is in danger of losing its core, but the controversial new status quo needs guard rails to keep things sustainable.
“I think there’s a lot of discouragement out there about the current state of college football, and I think there’s some guard rails that need to be put in place,” Monken said on “Next Up with Adam Breneman.”
“This is a business, and we are in the entertainment business, and we’re in the business of trying to make money for a number of reasons,” he continued. “Because it helps all of us represent this institution and be the front porch for our institutions, which, to me, is is a great purpose for athletics and a great source of pride for universities. And I think it will remain that way.”
Staying at a program all three or four years is becoming more of a rarity than ever, as more than 3,400 players entered the transfer portal in the 2025 cycle, according to ESPN.
While Monken supports players taking advantage of their NIL, he doesn’t see an overall benefit in transferring multiple times.
“And that doesn’t mean a guy’s got to stay at the same school for four years,” Monken said. “But to literally be able to play at one school in the fall, transfer to another school in the spring, don’t like it there, go to another school in the fall, have one bad spring practice and leave again… A guy could play five years of college football and be at nine different schools, in the current state of affairs. I don’t think that’s healthy, because I don’t think that’s good for athletes.”
NIL
Report: Judge denies motion to dismiss NIL lawsuit against Leonard Hamilton
On Monday, a Leon County judge denied former Florida State men’s basketball head coach Leonard Hamilton‘s motion to dismiss an NIL-related lawsuit against him, per The Athletic‘s Matt Baker. In the hearing, they set a tentative trial date of August 2026. In December of last year, Darin Green Jr., Josh Nickelberry, Primo Spears, Cam’Ron Fletcher, De’Ante Green and Jalen Warley alleged Hamilton […]

On Monday, a Leon County judge denied former Florida State men’s basketball head coach Leonard Hamilton‘s motion to dismiss an NIL-related lawsuit against him, per The Athletic‘s Matt Baker. In the hearing, they set a tentative trial date of August 2026.
In December of last year, Darin Green Jr., Josh Nickelberry, Primo Spears, Cam’Ron Fletcher, De’Ante Green and Jalen Warley alleged Hamilton promised each of them $250,000 in NIL payments from the coach’s “business partners,” per the complaint. The players reportedly never received payments from Hamilton, Florida State or any other party.
The initial complaint detailed a team-wide boycott that occurred during a practice ahead of Florida State’s game against Duke on Feb. 17. The complaint also included multiple text message exchanges between players and Hamilton and players and Will Cowen, an executive with one of Florida State’s NIL collectives.
After the players walked out of the practice ahead of the Duke game, Hamilton assured the players they would be paid the following week, per the complaint. Florida State ultimately lost to Duke, 76-67. Players were worried over taxes, rent and car notes, per the complaint.
In April, The Field of 68 legal analyst Mitch Gilfillan reported that three of the six plaintiffs were no longer pursuing the lawsuit. Nonetheless, it appears the other three plaintiffs have not had a change of heart and are pushing forward.
None of the six players who were involved in the lawsuit are still on Florida State’s roster. Four of them entered the transfer portal, while two of them had no more eligibility.
Leonard Hamilton announced his resignation in February. He is the winningest head coach in program history and the fifth-winningest head coach in ACC history.
“I am deeply thankful for the tremendous support of our fans, alumni, and everyone associated with Florida State throughout my time here,” Hamilton said. “I am proud of the quality of the young men that it was my privilege to lead, for their faith in this program and in their belief in the philosophy that we tried to instill in them over the years. I have been blessed beyond words for the opportunity and the experience we’ve had here.
“My family and I truly love this place, this institution, and its people. I’m very fortunate to be able to have given this job my all with no regrets. Every head coach inherits a legacy and is obligated to leave the job better than they inherited it. I’m very proud of what we have been able to accomplish here over the last 23 seasons.”
NIL
Hour 3 – Rookie QB Coverage & NIL Money | FOX Sports Radio
LaVar and Jonas give Zach Wilson his proper credit as a Polynesian players. Cam Ward continues to get less attention than Shedeur Sanders. A big name recruit in college football continues muddy the waters of NIL payments. Plus, a familiar face at the top of the rankings, a potential blockbuster trade and more! #2pros See […]
NIL
NIL VETO
Does Texas Tech’s structuring of NIL deals hold up with the Clearinghouse? If not, do schools like Auburn shift how they use NIL for recruiting? Author: ktvb.com Published: 6:44 PM MDT July 7, 2025 Updated: 6:44 PM MDT July 7, 2025 0


Does Texas Tech’s structuring of NIL deals hold up with the Clearinghouse? If not, do schools like Auburn shift how they use NIL for recruiting?
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