In a recent blog post, Ivan Miljkovic, Olympic champion and athlete wealth advisor, reflected on how dramatically the financial landscape of college sports has changed.
In 1997, while playing with the national team at a tournament in Sicily, he was approached by representatives of a U.S. university with an opportunity to study and play volleyball in America.
At that time, the offer was simple: education, sport and a scholarship.
There were no NIL agreements, sponsorship revenues, social-media deals or revenue-sharing payments. He came close to accepting, but ultimately followed a different path.
Nearly 30 years later, the world facing young athletes is very different.
Name, Image and Likeness (NIL) has created new ways for student-athletes to earn income from their personal brands. What began as a question of whether athletes should be able to benefit financially from their own identity has grown into an ecosystem involving universities, brands, agents, lawyers, tax professionals and financial advisors.
Now, the next phase may be greater regulation and structure.
Proposed federal legislation, including the Protect College Sports Act, is part of a broader effort to establish clearer rules around NIL, athlete representation, disclosure, compensation and athlete protections.
The question is no longer simply whether NIL will continue.
It is:
How should athletes manage the financial opportunities that now come with it?
NIL Is Becoming a Wealth-Management Issue
A college athlete may now receive income from several sources: NIL partnerships, sponsorships, university compensation, appearances, social media and eventually professional contracts.
That creates financial responsibilities at a much younger age.
Athletes need to understand how much they actually earn, what taxes they may owe, what contracts they have signed, what rights they have granted and how much money should be saved rather than spent.
For international student-athletes, the situation can be even more complex. Immigration rules, multiple currencies, foreign accounts and cross-border tax considerations may all become part of the same financial picture.
At that point, NIL is no longer only about marketing.
It becomes financial planning and wealth management.
What This New Environment Means for Athletes
Better financial organization
As the NIL market becomes more structured, athletes need accurate records of contracts, payments, expenses and tax obligations.
A financial advisor can help coordinate these different elements and give the athlete a clearer view of the entire financial picture.
Clear roles for agents and financial advisors
An agent helps identify opportunities and negotiate contracts.
A financial advisor has a different responsibility: helping the athlete decide what to do with the money after it arrives.
These roles are complementary, but they should remain clearly defined.
Understanding real NIL value
Commercial value is not determined only by follower numbers.
Sport, market, audience engagement, performance, personality, geography and brand fit all influence what an athlete may be worth to a sponsor.
Athletes should therefore evaluate more than the headline payment. They also need to understand what rights they are granting and for how long.
Planning for taxes
A large contract does not mean the same amount is available to spend.
Taxes, professional fees and other obligations can significantly reduce net income.
One of the most important lessons for a young athlete is learning to think about what they keep, not simply what they earn.
Financial education should start early
Many athletes begin earning meaningful money before they have had the opportunity to develop financial experience.
That creates risks ranging from lifestyle inflation and poor investments to tax problems and pressure from people around them.
Financial education should therefore begin with the first significant payment, not after the athlete becomes wealthy.
International Athletes Face an Additional Challenge
An international student-athlete may study in the United States, earn in dollars, maintain financial relationships in Europe or another region, and later continue a professional career in a completely different country.
That means navigating several currencies, banking systems, tax regimes and eventually different stages of a sporting career.
This is not traditional student financial planning.
It is cross-border athlete wealth management.
For athletes in this position, good advice is not only about investment returns. It is about creating a financial structure that can move with the athlete throughout a global career.
What Athletes Can Do Today
Athletes do not need to wait for new regulation before becoming better prepared.
A strong starting point is to:
- Keep copies of every contract.
- Track all income and expenses.
- Separate personal spending from NIL-related finances.
- Plan for taxes before spending the money.
- Understand agent and representation fees.
- Review the rights being granted in commercial agreements.
- Consider cross-border financial issues when relevant.
- Avoid unnecessary investment risk.
- Build a coordinated professional team.
- Think beyond current earnings toward long-term financial independence.
From NIL Income to Long-Term Wealth
The most important distinction is simple:
Earning money and building wealth are not the same thing.
An NIL agreement may last a year.
A college career lasts only a few years.
Even a successful professional career eventually ends.
Financial decisions, however, can influence the rest of an athlete’s life.
The athlete who learns to manage $10,000 responsibly is better prepared for $100,000. The athlete who handles $100,000 well is better prepared for $1 million.
That is why NIL should be viewed as more than an opportunity to earn.
For many athletes, it is the beginning of their financial career.
The real objective is to turn a temporary opportunity in sport into lasting financial security and independence.
My Commitment to Every Athlete I Work With
My commitment remains simple:
To help athletes protect what they earn, grow what they build and prepare for the life waiting after the final whistle.
Whether you are a professional footballer or basketball player navigating your first major contract, an international student-athlete building your NIL foundation, a parent trying to protect your child’s financial future, or an agent looking for a trusted financial structure to support your athletes, the conversation can begin with a single message.
The process does not have to start with a financial review or a major commitment.
It starts with a conversation.
A conversation between people who understand what professional sport demands, how quickly a career can change, and what can happen when the right financial structure is not in place.
If you are looking for personalized guidance for yourself, your family or the athletes you represent, I am here.
Let’s build the next chapter of the athlete’s journey together.
Ivan Miljkovic
Holistic Wealth Advisor for Athletes & Sports Professionals
Olympic Champion | Hall of Famer | Author | Speaker
