“What’s in a Name? Perspectives on Name, Image, and Likeness” A panel that includes a student athlete, a lawyer, and a sports agent shares the evolving rules allowing college athletes to be paid by marketing their name, image, and likeness, before a July 27, 2023 meeting of The Economic Club of Florida.Show Notes  (for complete Show Notes, please visit https://economic-club.com/podcasts-and-summaries/)Previous to an NCAA rule change in 2021, student athletes were not able to profit or receive compensation for their participation in collegiate sports.  Today, they are allowed to do so through product endorsements, autograph signings, and social media posts under name, image, and likeness (NIL) laws and regulations.  Florida recently amended its NIL law, removing restrictions that prohibited schools from facilitating NIL deals and now allowing compensation from booster clubs and other third parties affiliated with an athlete’s school.While technically not being paid to play, “somewhat like the pro athletes, they’re able to be entrepreneurial and benefit and provide support for themselves and earn some income as they go through college,” said Hugh Tomlinson, Director of Development and Gift Planning for the Florida State University Seminole Boosters Club.  He moderated the panel discussion that included a college athlete, a sports agent, a lawyer, and the head of an NIL “collective” that helps put together these deals.“A collective pools resources in a given community to maximize a student athlete’s exposure.  Otherwise, you would end up with the athletes all kind of fending for themselves,” said Will Cowen, Chief Operating Officer of Rising Spear, based in Tallahassee, Florida.  Rising Spear is a third-party NIL collective that develops NIL opportunities for FSU student athletes and collects donations from donors.  “Collectively we can raise more money and we’ve done over 1,500 hours of athletes giving back to the community,” he said.  The donations are tax deductible and can be allocated per sport.  Collectives also work with local businesses to solicit NIL deals.Will Hall, an attorney at the Dean Mead law firm, serves as outside counsel to Rising Spear and explained that collectives come in two varieties: nonprofit and for-profit.  “The NIL rules require athletes spend a portion of their time in community service.  What Rising Spear Garnet does is buy that time and essentially donate it to the local schools and the Boys and Girls Club.  On the for-profit side, Rising Spear Gold harnesses opportunities for local businesses, especially for those athletes who may not be able to afford to have a sports agent,” said Hall. One of those athletes is Michaela Edenfield, catcher for the FSU Seminoles Softball team.  The team most recently went all the way to the 2023 Women's College World Series championship finals.“I'll never make a living from softball, but I can have softball help me make a living.  And I think the idea of that has been able to change and grow due to NIL,” said the incoming junior, who has amassed a social media following for her makeup tutorials.  “NIL has definitely been able to help me provide for myself and pay for my education here alongside of my softball scholarship,” which she noted is among the sports that don’t offer full scholarships.  The Sneads, Florida native is majoring in Business with the dream of becoming a media marketing manager for either a sports team or sportswear company.  Ben Chase, Director of NIL Strategy for the University of Florida, acknowledged the....