The Finley Firm
NCAA NIL Regulations in Georgia
After the NCAA launched its new Name, Image, and Likeness (NIL) policy to allow student-athletes to profit from their NIL, many states either created or amended their own NIL laws because there was no federal legislation. Georgia's NIL legislation was passed in 2021, and though it may look similar to many other states’ NIL policies, there are some unique aspects.
Beyond the basic rules outlining the ability to profit from one’s NIL, Georgia’s laws, for instance, also create the opportunity for universities, through team contracts, to create a pooling system into which players may put a portion of their compensation. In this scenario, the funds could go to benefit individuals previously enrolled at the same university. Georgia also has a requirement in their NIL laws that student-athletes undergo at least five hours of a university-sponsored financial literacy workshop at the beginning of both their first and third academic years.