The Portal Isn't the Problem

More than 10,500 college football players entered the transfer portal in a single 15-day window this January — and almost every policy response assumes NIL is the cause. New data from 1,060 portal entrants tells a more complicated story: seven of the top ten reasons athletes transfer are traditional, pre-dating both NIL and the portal itself. NIL didn't create the desire to leave — it removed the penalty for acting on it.

Read More
Bill Carter
The Confidence Trap of Student-Athletes

48% of athletes felt confident at the moment they signed their first NIL deal. Looking back, only 15% rated themselves as actually prepared. That 33-point gap — what behavioral economists call the confidence trap — is the strongest predictor of poor financial outcomes in sudden-income populations.

Read More
Bill Carter
NIL's $500M Compliance Problem

The House v. NCAA settlement created the most structured NIL oversight system in college sports history. Eight months in, the numbers don't add up — and new data from the NIL Research Poll shows why.

Read More
Bill Carter
How to Avoid the "Grift" of NIL

NIL has a grift problem. No barrier to entry means manufactured credibility runs rampant. Here's a 3-filter test for separating the people worth trusting from the ones selling certainty they don't have.

Read More
Bill Carter
Why College Athletes Should Be Studied Like Lottery Winners

Lottery winners. NFL retirees. Inheritance recipients. The research on sudden income is consistent — and the pattern maps directly onto NIL. Our new survey data suggests the conditions for poor outcomes are already in place among college athletes. The full report drops in April, exclusively for NIL Forum members.

Read More
Bill Carter