NIL created opportunity. It also created a legal mess college sports is still trying to sort out.
In this episode of The NIL Podcast by SportsEpreneur, Eric Kasimov talks with Philip Sheng, a partner at Venable LLP and intellectual property attorney focused on NIL, right of publicity, college eligibility, and sports law. Philip is also a former Stanford tennis player, former ATP-ranked professional, and parent of college athletes.
Philip brings a legal, athlete, and parent perspective to what college sports has become. The conversation covers NIL contracts, the College Sports Commission, pay-for-play, athlete education, transfer rules, non-revenue sports, international recruiting, sports betting, and why college decisions should not be made only around money.
Episode Overview
Most NIL conversations focus on what athletes can earn. This one looks at what they may be signing away.
Philip Sheng explains NIL through the lens of intellectual property and right of publicity. Before college sports made “NIL” the common term, these issues were already part of how athletes, celebrities, and public figures protected and licensed their names, images, and likenesses.
This conversation looks at what happens when those rights enter college sports at scale. Athletes now have more opportunity, but they also face contracts, agents, tax questions, eligibility rules, compliance reviews, and long-term decisions that can shape more than one season.
Eric and Philip also get into the larger college sports system — from conference realignment and travel burdens to the transfer portal, the College Sports Commission, sports betting, non-revenue sports cuts, and the rising cost of college.
Key Takeaways
- NIL is both an athlete compensation issue and an intellectual property issue
- Right of publicity is the legal foundation behind many NIL questions
- College athletes need better education around contracts, taxes, agents, and rights
- Not every NIL deal is worth making a life decision around
- The College Sports Commission is trying to separate real NIL from pay-for-play
- The Nebraska/PlayFly situation shows how important contract details and deliverables are
- Non-revenue sports like tennis and swimming face real pressure after the House settlement
- International recruiting and age-based eligibility rules are affecting college rosters
- High school NIL creates opportunity, but also adds risk for younger athletes
- Sports betting is becoming one of the biggest trust and wellness issues in college sports
- College still has value beyond athletics, money, and short-term opportunity
Topics Covered
- NIL and intellectual property
- Right of publicity
- College Sports Commission enforcement
- House settlement impact
- NIL contracts and athlete rights
- Pay-for-play vs. real NIL
- Transfer portal culture
- Conference realignment and athlete travel
- Non-revenue sports pressure
- International athletes and eligibility rules
- High school NIL
- Sports betting and college athletes
- College costs and athlete fees
- The value of college education
Notable Quote
“Don’t make life decisions based solely on money.”
Episode Chapters
00:00 – Philip Sheng’s background in law, NIL, and college sports
03:04 – Conference realignment and the travel burden on athletes
05:19 – How college sports changed from opportunity to money
08:23 – NIL education, taxes, agents, and bad advice
12:25 – Whether NIL has gone too far
14:21 – Fan loyalty, roster turnover, and the value of staying
18:00 – The College Sports Commission and NIL enforcement
21:00 – Nebraska, PlayFly, and what NIL deals need to include
25:00 – Lawyers, arbitration, and whether the CSC can work
28:11 – Big Ten, SEC, playoff expansion, and media money
30:29 – Media rights, rivalry games, and breaking away
34:39 – Philip’s NIL contract work with athletes, schools, and brands
36:08 – Why brands should look beyond star athletes
38:20 – What families need to know before signing NIL contracts
40:38 – IP rights, long-term control, and the Taylor Swift example
42:02 – Non-revenue sports cuts after the House settlement
44:29 – International athletes, eligibility rules, and roster pressure
48:00 – High school NIL and protecting younger athletes
50:29 – Sports betting, college students, and athlete data concerns
54:34 – College education, cost, and long-term decision-making
59:28 – Where to find Philip Sheng
Connect & Follow
- Follow The NIL Podcast by SportsEpreneur for more conversations on athlete business, NIL strategy, and the evolving college sports landscape.
- Philip Sheng: X | LinkedIn | Venable LLP
- Eric Kasimov: LinkedIn | X
- SportsEpreneur: LinkedIn | X
Related Content
- NIL Hub
- The US Government and NIL
- NIL Pros and Cons for Athletes, Families, and Schools
- NIL, Data, Athlete Value, and the Business Behind the Deal
- Transfer Portal Pros and Cons
SportsEpreneur is a sports business media platform covering NIL, media, and the changing college sports landscape.
Eric Kasimov is the founder of SportsEpreneur, part of the KazSource media network. Since launching the platform in 2015, he has hosted over 500 podcast episodes, written and published more than 1,500 articles, and advised business leaders, founders, and creators on building authority through media strategy.
Through his brands — KazSource, KazCM, SportsEpreneur, and QuietLoud Studios — Eric leads teams that produce podcasts, develop brand platforms, and help companies grow through modern content ecosystems. He also scaled KazSource Insurance into a seven-figure boutique agency, providing the foundation for the broader media network he operates today.
His work has been featured in Forbes, Axios, and Front Office Sports, and his podcasts have included conversations with top founders, investors, and athletes turned entrepreneurs.