When the NCAA opened the door to Name, Image, and Likeness (NIL) deals in 2021, college athletics changed forever. Suddenly, athletes who had never made a dime from their sport were signing endorsement contracts, sponsorships, and social media deals worth tens of thousands — even millions.

And it’s not just college anymore. High school athletes in several states are now eligible for NIL deals. The money is flowing younger, faster, and with fewer guardrails.

That means opportunity — and risk.

Athletes and their families are navigating contracts, payments, taxes, and spending decisions for the first time. Many don’t realize that every NIL deal is taxable, or that the wrong entity choice could cost them thousands. Some are being taken advantage of by predatory agents or advisors.

This is where accountants, EAs, and virtual CFOs step in. You’re not just managing the money — you’re protecting young athletes’ futures.

Where the Opportunities Are

The NIL market is exploding, and it’s bigger than just the star quarterback at Alabama. Opportunities exist across:

• College athletes – Football, basketball, gymnastics, volleyball, track, and beyond.
  
• High school athletes – Approved in states like California, New York, and Illinois. More states are following.
  
• Olympic hopefuls – Track, swimming, gymnastics, and niche sports where endorsements add up.
  
• Female athletes – Social media + NIL is creating strong income streams for women’s sports.
  
• Amateur/pro crossover – Some athletes are juggling NIL deals with early pro contracts.
  

Wherever there’s athletic visibility, there’s a need for financial guidance.

Related: NIL Meets AI To Shape The Future Of College Sports

What NIL Athletes Need (and Why They Need You)

Most athletes (and their families) have zero experience managing this kind of money. That’s why they’re vulnerable — and why professional guidance is critical.

Key areas where accountants and virtual CFOs bring value:

• Entity creation: LLCs, S-Corps, or sole proprietorships? The right structure can mean huge tax savings.
  
• Tax planning & compliance: Every NIL dollar is taxable. Quarterly estimated payments prevent ugly surprises.
  
• Contract review (financial side): Understanding the tax implications of sponsorships, free products, and non-cash compensation.
  
• Budgeting & cash flow: Helping athletes avoid the “spend it all now” trap.
  
• Long-term planning: College ends, but taxes, investments, and reputations live on.
  
• Fraud protection: Shielding young athletes from scams, predatory contracts, and financial missteps.
  

You’re not just doing compliance. You’re acting as the financial coach who keeps them in the game.

How to Approach NIL Athletes: A Playbook

This market is young — literally — so your approach needs to balance professionalism with trust and accessibility.

1. Partner with athletic departments. Many schools want trusted professionals to educate athletes on finances. Offer workshops on “Taxes & NIL 101.”
   
2. Connect with parents. In high school especially, parents are the decision-makers. Position yourself as the guide who protects their child’s future.
   
3. Network with agents and boosters. These intermediaries often need financial partners they can trust.
   
4. Publish educational content. Blog posts like “The NIL Tax Trap: What Every Athlete Needs to Know” or “Should College Athletes Create an LLC?” attract attention.
   
5. Show involvement in sports. Sponsor local teams, attend games, share NIL insights on social media. Credibility matters.
   
6. Position yourself as approachable. Athletes and parents don’t want jargon — they want clear, trusted advice.
   

Outreach in Action: Samples You Can Use

Here are outreach templates tailored for NIL athletes and their families.

Sample Outreach Email (for Parents of Athletes)

Subject: Helping your athlete protect their NIL earnings

Hi [First Name],

I work with student-athletes and their families to make sure NIL earnings are handled correctly — from taxes to contracts to long-term planning.

Many athletes are surprised to learn that every sponsorship, free product, or appearance fee is taxable. Without the right guidance, it’s easy to fall behind on taxes or miss opportunities for savings.

I’d love to share a quick checklist we use with NIL families to keep earnings safe, compliant, and working for the athlete’s future. Would you be open to a brief call next week?

Best,

[Your Name]

Sample LinkedIn Connection Request (for Agents or Athletic Staff)

Hi [First Name],

I specialize in working with athletes on NIL financial planning — tax strategy, entity creation, and compliance. I’d love to connect and share insights on how we can better support athletes in this new space.

Best,

[Your Name]

Sample LinkedIn Follow-Up Message

Thanks for connecting, [First Name].

We’re seeing more athletes — especially at the college level — struggling with tax surprises after NIL deals. If it’s helpful, I can send you a short “NIL Tax Essentials” guide that breaks down what every athlete (and parent) should know.

Example Lead Magnet: “The NIL Tax Survival Guide”

One of the best ways to attract athlete clients is through educational resources. A simple, valuable lead magnet positions you as the go-to expert before you ever meet.

Here’s how a downloadable guide might look:

Title: The NIL Tax Survival Guide for Athletes & Families

What’s Inside:

• 7 NIL income types you didn’t know are taxable
  
• The #1 mistake athletes make with free products and sponsorships
  
• Entity setup 101: LLC, S-Corp, or Sole Prop?
  
• A quarterly tax calendar for athletes
  
• How to spot red flags in NIL contracts
  

Offer this as a free download on your website or LinkedIn — and now you’re capturing parents, athletes, and agents directly into your funnel.

Positioning Yourself as the Go-To Accountant for NIL Athletes

This is a young, fast-moving market. Athletes and their families want professionals who:

• Understand sports culture (credibility matters).
  
• Provide clear, simple education on taxes and finances.
  
• Show they’ve worked with others in the NIL or athlete space.
  
• Offer protective guidance against predatory deals.
  

Update your positioning: We help athletes and their families protect NIL income, stay compliant, and build financial stability beyond college.

Pulling It All Together

NIL is no longer a niche corner of college sports — it’s a billion-dollar industry, reaching younger athletes every year.

The opportunity for accountants, EAs, and virtual CFOs is clear:

• Educate athletes and families on the tax and financial side of NIL.
  
• Protect them from costly mistakes with proactive planning.
  
• Position yourself as a trusted advisor who understands both the numbers and the culture of sports.
  
• Use smart outreach + lead magnets to build authority and capture clients.
  

Done right, you’re not just their accountant. You’re the trusted coach for their financial future.

CTA

Want to position your firm as the go-to for NIL athletes?

CountingWorks PRO helps accountants and virtual CFOs create niche content, marketing funnels, and outreach playbooks that make landing athlete clients predictable.