Tom Holmoe speaks at BYU Football Media Day on June 17. Holmoe sent a letter to athletes and coaches on Wednesday detailing BYU's NIL policies. (Addie Blacker)

BYU athletic department officially institutes name, image and likeness policies

Following the new NCAA regulations regarding compensation for name, image and likeness (NIL) rights, BYU officially introduced its name, image and likeness policies for student-athletes on Thursday, July 1 to be implemented immediately.

Athletic director Tom Holmoe shared the new policies in a letter to all athletes and coaches Wednesday night, including a digital name, image and likeness disclosure form for athletes ready to enter into an agreement.

Noteworthy policy items include keeping compensation value within fair market bounds and forbidding compensation for specific athletic achievements (“pay to play”). Cougar athletes will also be unable to participate in agreements with businesses or products contrary to the BYU honor code, including alcohol, tobacco and gambling.

Holmoe acknowledged that the policies would likely continue to develop as the new economic landscape of college sports takes shape following the decision.

“We have been working tirelessly to create the ideal plan and policy that will maximize your earning potential,” Holmoe wrote in the letter to student-athletes. “A significant part of this plan is the Built4Life initiative, which assists in maximizing earning potential while simultaneously providing financial literacy education.”

Following the announcement from the NCAA on June 30, several Cougar athletes took to social media to celebrate and begin the process of building their personal brands, including basketball player Gavin Baxter and football player Malik Moore, seen below.

https://twitter.com/gbax51/status/1410355755765567489

Women’s basketball stars Shaylee Gonzales and Paisley Harding also posted their contact info on Instagram for companies to reach out if they would like to partner. Gonzales, who boasts a combined following of over 100,000 people on Instagram and YouTube, put a poll on her Instagram story asking if followers would be interested in buying merchandise with her name and brand on it.

Whatever business endeavors BYU athletes embark on in the name, image and likeness era, the department and administrators are sure to be clued in and regulating based on the policies implemented on July 1.

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