As University of Iowa basketball star Caitlin Clark continues her March Madness run, she's garnered attention for both her record-breaking performances and her ability to translate that on-court success into lucrative deals with major brands like Nike, Gatorade, and State Farm.
"There's a significant uptick in interest in March Madness sponsorships and influencer-marketing campaigns this year as compared to years past," Ayden Syal, CEO of NIL marketing platform MOGL, told Business Insider in March 2024.
Name, image, and likeness deals — or NIL deals — have become a billion-dollar industry since their introduction to amateur sports in 2021, allowing student-athletes to make significant amounts of money regardless of whether they have the option to turn pro.
On3 tracks these partnerships and ranks student-athletes weekly based on their annual NIL Valuation, which is determined by an algorithm that considers a player's roster value performance, influence, exposure, and deal data.
These four factors determine an athlete's "Roster Value" — "a calculation of an athlete's respective value to their team," according to On3 — and "NIL Value," which is related to their advertising and sponsorship opportunities. These values are then combined to get their total NIL Valuation.
While these student-athletes have built names for themselves through their talents, skills, and social media savvy, some top NIL earners might have had some extra help attracting deals thanks to their legacy-bearing last names.
With valuations starting at $1.5 million, here's a look at the top 10 student-athletes profiting the most from NIL. These figures were accurate as of March 26, 2024.