PROVO, Utah (ABC4 Sports) – Now that college athletes are able to earn money off of their own name, image and likeness, BYU released a statement saying any endorsements must still follow the school’s honor code.
In a press release, BYU student-athletes may not enter into NIL agreements with companies, businesses, causes or products that do not conform to the BYU honor code standards. Some examples of such prohibited areas include, but are not limited to, alcohol, tobacco, gambling, adult entertainment, coffee, etc.
Student-athletes must comply with BYU Honor Code Standards, including the University Dress & Grooming Standards, while engaging in NIL activities.
The BYU athletic administration will also have final approval over any endorsement deals made by its student-athletes.
“This is terrific news for our student-athletes, and we are excited for them to be able to capitalize on their name, image and likeness,” said BYU athletic director Tom Holmoe. “We’re eager to assist our student-athletes as much as we can with the opportunities ahead, and we have policies and processes in place to help make sure they’re staying compliant and not putting themselves in problematic situations.”Compensation for NIL activities must be within fair market value.
In the release, BYU student-athletes may not be compensated for athletic accomplishments (e.g., pay-for-play)
Student-athletes may use BYU or athletic department related marks and logos, including all aspects of the uniform, only after those rights have been secured through a formal agreement granting specified rights. While you may not use marks or logos in your NIL activities right now, additional information on how to secure such rights is forthcoming.
Use of institutional facilities, including athletic department facilities, is prohibited.
BYU Athletics administrators will be meeting individually with teams over the next several days to help provide additional guidance and answer questions about NIL.
The recently launched BYU Built4Life program will continue to serve as the mechanism for educating student-athletes and business partners on compliant NIL integration. The program will also provide important education to student-athletes — including education on different aspects of financial literacy, tax law and contract law — to assist student-athletes in assessing and navigating the opportunities that come their way.
“Today is a most auspicious occasion,” said Gary Veron, BYU associate athletic director for student-athlete experience. “With the passage of interim NIL policies, our student-athletes now have the opportunity to maximize their earning potential in a variety of areas, from marketing deals to endorsements to monetizing their online presence. I am thrilled to support BYU student-athletes as they begin laying the groundwork of building their personal brands. Our Built4Life program is prime to help ensure that money earned through NIL deals becomes a tool for future financial success. The college athletic landscape will never be the same, and we are ready to embrace these exciting changes.”