How NIL Deals Prepared These Top NBA Draft Picks to Go Pro

The first anniversary of the NCAA enacting its NIL (name, image, likeness) policy is approaching, and student sports stars entering the NBA will take a valuable lesson with them: They know their worth. The year-old rule change allows college athletes to profit like the pros from brand deals. The emergence of a more aware, business-savvy athlete is a natural progression—but it may surprise teams and brands at how quickly these young players have graduated. Case in point: Paolo Banchero and Chet Holmgren were drafted first and second, respectively, in last night's NBA Draft. Both college stars signed several NIL deals during their lone amateur seasons, and the experience has invaluable for both as they become pros. Banchero and Holmgren joined other NBA draftees Jaden Hardy and Jalen Williams as partners for Philips Norelco's Team OneBlade roster of incoming rookies. Raking in the brand dollars Men's basketball was the second-highest earning college sport in terms of NIL compensation, accounting for 17% of NIL earnings on athlete marketing company Opendorse's platform. The figure trailed only football, which led the way with 49.9%. Women's basketball was third with 15.7%. Banchero was a highly touted high school prospect when he arrived at Duke University, and his focus was being authentic in his partnerships. "Going into college, I didn't expect it to be as big as it was," Banchero told Adweek about NIL at a Philips Norelco event. "My parents told me, 'Look, there's a lot of money if you want to [participate].'" Soon after, the No. 1 overall pick signed with CAA for NIL representation and inked deals with apparel retailer JD Sports, Yahoo Sports, trading card platform Panini America and NBA 2K. According to college sports database and digital media company On3, Banchero's NIL valuation was worth north of $240,000. Holmgren's NIL valuation was worth just shy of $300,000. The former Gonzaga player signed with WME sports for NIL deals and went on to partner with Bose, Yahoo Sports and Topps. "I tried to communicate with my agency what I am, what I represent, and what makes me, me," said the No. 2 overall pick. "From there, we put together a plan to work together with brands that represent that." On3's valuation index leans on factors such as social media following, engagement and media sentiment. Holmgren's deal with Topps was the largest NIL deal the brand had signed with a student-athlete. The agreement included physical and digital trading cards, and curated social media content. The selling point for Holmgren was giving back to the community. "We were able to make a special trading card that all the proceeds went to Can Do Canines," which trains dogs for disabled people, Holmgren said. "It's a charity from near my hometown, out in the suburbs, but it helped the charity out tremendously." Future returns NIL legislation goes beyond just earning potential for student-athletes. According to sports attorney and NIL advocate Darren Heitner, it helps them become entrepreneurs and gives them an earlier taste of how money may affect third-party interactions. "Having the opportunity to engage in NIL dealmaking, whether it be involvement in procuring opportunities, conducting diligence on the pros and cons of working with specific brands, going through the process of dissecting legal documents, managing the monies earned from these deals, or fully appreciating best practices for branding—it all allows athletes to get a taste of being businesspeople at earlier stages of their lives, preparing them for life after sport," Heitner added. For Banchero and Holmgren, NIL allowed them to negotiate off-the-court deals and build relationships with brands before turning pro. "It's given me a jump start on figuring out the process of how everything works," Holmgren said. "I was fortunate to get a team in place a year earlier than I possibly would've without NIL. I think NIL has been great for college. It's doing great things for people's families and communities around the country." Banchero said that signing his NIL deal was a positive experience, highlighting his 2K partnership as a standout moment. He grew up playing the video game and still plays it now, so the experience of becoming the first collegiate athlete to appear in an NBA 2K video game was surreal. "It helped me a lot," Banchero said of signing NIL deals this past year. "It helped me get a jump start on how to deal with these brands and build relationships that can last for the future." This NCAA Athlete Became an NIL Darling After March Madness Cinderella Run

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Rafael Canton

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Rafael Canton