Building Your NIL “Money Team”: Advisors, Accountants, Agents, and Lawyers

When you step into the NIL world, you’re not just an athlete—you’re the CEO of your own brand. That means every NIL deal you sign, every sponsorship you accept, and every dollar you earn requires a team around you to protect, grow, and manage your success. In sports, you’d never take the field without your teammates. In NIL, the same principle applies: your “Money Team” is essential.

Here’s a breakdown of the key players every athlete should consider when building their NIL support system.

1. The Financial Advisor – Your Game Plan Designer

A good financial advisor helps you manage what comes in and what goes out. NIL money can feel like free-flowing cash, but without a plan, it disappears fast. An advisor will:

• Help you create a budget so you know how much to spend, save, and invest.

• Teach you about building wealth (retirement accounts, investments, etc.).

• Protect you from lifestyle creep (spending more just because you’re earning more).

What to look for: Credentials like CFP® (Certified Financial Planner) or experience working with athletes. Someone who educates you, not just sells products.

2. The Accountant – Your Tax Safety Net

Every NIL check comes with a tax bill. Unlike a regular job, there’s no employer automatically taking taxes out of your paycheck. An accountant helps you avoid ugly surprises in April. They will:

• Track your NIL earnings.

• Help you pay estimated quarterly taxes.

• Spot deductions you’re legally allowed to take (travel, equipment, training, etc.).

• Make sure you stay IRS-compliant.

What to look for: A CPA (Certified Public Accountant) who understands self-employment income, athletes, and small business structures.

3. The Agent – Your Deal Maker

Not every athlete needs an agent, but if NIL is becoming a big part of your life, an agent can help negotiate stronger deals and protect your interests. A good agent will:

• Find opportunities that match your brand.

• Negotiate contracts so you get fair terms.

• Ensure you’re not being exploited by companies.

• Save you time so you can focus on school and sports.

What to look for: An agent registered in your state and compliant with NCAA and school rules. Someone transparent about fees (usually a percentage of deals they help secure).

4. The Lawyer – Your Contract Defender

Every NIL deal is a legal contract. Hidden terms can lock you into obligations you didn’t expect. A lawyer makes sure you’re protected before you sign. They will:

• Review contracts for red flags.

• Make sure you don’t give away rights to your name, image, or likeness forever.

• Help set up a business entity (like an LLC) if it makes sense.

• Defend you if disputes arise.

What to look for: An attorney with experience in sports law, contracts, or entertainment law.

Final Whistle: Your NIL Success Depends on Your Team

NIL money can be a blessing—or a curse—depending on how you manage it. Having the right team of professionals ensures you don’t just make money, but also keep it, grow it, and protect it.

Think of it like your sport: the quarterback doesn’t win without the offensive line, and the point guard doesn’t shine without teammates setting screens. In NIL, your advisors, accountants, agents, and lawyers are the teammates who make sure your financial game stays strong—both now and for years to come.