Rich Paul, CEO of Klutch Sports and agent to NBA stars like LeBron James, is pushing for reform in college sports’ Name, Image, and Likeness (NIL) structure.
Speaking with Sports Business Journal, Paul emphasized that NIL agreements should not only reward players financially but also prepare them for long-term professional obligations.
“If we’re going to have student athletes get paid, we should teach them the proper way and the obligations that come with actually being paid,” Paul said.
Since NIL rules were enacted in 2021, college athletes have been able to profit from endorsements, sponsorships, and appearances. However, most contracts are structured as short-term deals, often limited to a single season.
Paul believes that system creates instability for both players and sponsors, leaving athletes without consistent income or financial security.
He has suggested multi-year contracts as a solution that would mirror the professional model, where athletes commit to longer-term partnerships and learn how to manage ongoing obligations.
This perspective comes as the NIL market continues to expand rapidly. According to Opendorse, NIL deals are projected to surpass $1.2 billion annually, with football and basketball players driving the largest share of revenue.
Multi-year contracts could also give student athletes more leverage in negotiating deals, ensuring that companies remain committed beyond a single season.
Paul, who has negotiated max contracts for NBA clients like LeBron James, Anthony Davis, and Draymond Green, argues that preparing athletes for professional business standards at an earlier stage will help them transition more smoothly to the next level.
