James McFall on NIL Deals – 'Essential for student athletes to fully grasp their commitments'

Foley & Lardner LLP partner James McFall shared insights on name, image, and likeness deals (NIL) in the MassMutual article, “Using NIL deals to set the stage for financial success.”

Describing the value of parental involvement as NCAA athletes simultaneously navigate early adulthood and complex decisions, McFall said, “Parents can provide support, help their children understand the implications of contracts, and ensure they make informed decisions that align with their long-term goals and values.”

“Other family members, coaches, and mentors can also play a valuable role as trusted advisors,” he added.

He also noted that athletes with an NIL offer should consider retaining an attorney well-versed in contract law to ensure favorable terms.

“Signing an NIL contract without fully understanding the terms can lead to unfavorable obligations, financial losses, or even jeopardize an athlete’s collegiate eligibility,” explained McFall. “It is essential for student athletes to fully grasp their commitments to avoid binding agreements that may hinder their future opportunities or result in legal disputes.”