Show Me the Money: Factors Contributing to College Football NIL Valuations

Abstract

Extant research has established that social media is a significant mechanism for college athletes to monetize their name, image, and likeness (NIL). Correspondingly, social media following serves as a significant predictor in the calculations of college athletes’ NIL valuations. However, considering media coverage, fanaticism, and varying athletic conference and athletic department statures, additional inherent factors may also contribute to college athletes’ NIL valuations. Accordingly, the present study sought to analyze a subpopulation of college athletes to determine the most significant predictors of their NIL valuations. Utilizing Football Bowl Subdivision (FBS) athletes during the 2023–2024 academic year, NIL valuations of 5,649 available players were analyzed. Findings reveal that while conference affiliation and position significantly impacted FBS football players’ NIL valuations, aggregate social media following was the most significant predictor of NIL value. Practical implications are discussed, and two distinct typologies of NIL-based compensation are proposed.