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After Supreme Court NCAA decision, student-athletes who want to cash in have to get educated: company founder
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NCAA decision allowing athletes to profit off image ‘long overdue’: Surevest CEO
Surevest CEO Rob Luna praises the NCAA’s decision to allow student-athletes to profit off their image, likeness on ‘Making Money’
The founder of a new name, image and likeness advisory firm says educating student-athletes is the "most critical" piece to success in the uncharted industry, telling FOX Business that players need to learn financial literacy, an understanding of social media, content creation and taxes.
Doug Fillis, the founder of Accelerate Sports Ventures, said in an interview with FOX Business that he created the firm as rules surrounding name, image and likeness (NIL) began changing.
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The Supreme Court ruled last month, in a unanimous decision, that the NCAA has been illegally restricting education-based benefits that could be used as compensation to student-athletes. The NCAA, also last month, approved an interim name, image and likeness policy, giving student-athletes the opportunity to earn money from endorsements, sponsorships, social media and more.
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Fillis, a longtime sports marketing executive and adjunct professor of sports marketing at New York University’s Tisch Institute for Global Sport, emphasized the importance of exposing student-athletes to resources as they seek to create business and revenue opportunities for themselves.