Signing Day is one of the most exciting milestones in a student-athlete’s journey—but it is also one of the most legally and financially significant. Between recruiting rules, financial aid agreements, Name, Image, and Likeness (NIL) opportunities, and the emerging world of revenue sharing, today’s college athletics landscape is more complex than ever.
This article is based on The Signing Day Playbook webinar, part of The Harris Law Firm’s Wiser Together community education series. The goal is simple: to help high school athletes and their families feel informed, confident, and protected before Signing Day.
Important note: This information is educational only and does not create an attorney-client relationship. Laws, NCAA rules, and school policies change frequently, and individual situations vary.
Meet the Presenters
Jennie Wray, Partner at The Harris Law Firm, is one of the firm’s most accomplished attorneys. She has spent her career making complex legal issues accessible and helping individuals and families protect their rights during pivotal life moments.
Machia Mullens, a J.D. candidate at the University of Colorado Law School (Class of 2026), brings a strong background in sports and entertainment law, NIL compliance, and athletics governance. As a former NCAA Division I student-athlete, she offers a rare perspective that blends lived experience with legal training.
This article is based on The Signing Day Playbook webinar, part of The Harris Law Firm’s Wiser Together community education series. If you prefer to watch the recorded webinar, you can do so here:
Understanding the Recruiting Process
“Student-athletes today are under a microscope—on the field, in the classroom, and online. Coaches are evaluating far more than just stats.”
— Machia Mullens
The recruiting process is how colleges identify, evaluate, and select athletes for their programs. While every sport and program differs, coaches generally focus on three core areas:
1. Athletic Performance
Coaches evaluate size, speed, strength, skill, and game performance by attending:
High school games
AAU, club, and travel competitions
Showcases and camps
Recruiting services and highlight platforms
2. Academic Eligibility
Academic eligibility is non-negotiable. Coaches rely heavily on the NCAA Eligibility Center (formerly known as the NCAA Clearinghouse) to confirm:
High school transcripts
Core course completion
Amateurism status
Key takeaway: Athletes must ensure their information in the Eligibility Center is complete and accurate. Coaches regularly check this database before extending offers.
3. Character and Reputation
Character matters more than many athletes realize. Coaches evaluate it by:
Speaking with high school and club coaches
Talking with teachers, trainers, and family members
Observing athlete behavior on and off the field
Reviewing social media activity
Athletes today are effectively “under a microscope.” Social media posts, interactions with teammates, and overall conduct can influence recruiting decisions just as much as stats.
From Recruiting to Verbal Commitment
Once a coach determines an athlete is a good fit athletically, academically, and personally, communication increases. This may include:
Emails, phone calls, and text messages
Official and unofficial campus visits
During visits, coaches often discuss:
Team culture and expectations
The athlete’s projected role
Scholarships and financial aid
NIL and revenue-sharing opportunities
At this stage, the power dynamic shifts. Athletes and families should evaluate the school just as carefully as the school evaluates them—considering athletic development, academics, finances, and long-term opportunities.
If everything aligns, the athlete may verbally commit. While exciting, a verbal commitment is not legally binding. The binding step comes on Signing Day.
What Is a Financial Aid Agreement?
“A financial aid agreement is not just paperwork—it’s a legal contract that can shape an athlete’s eligibility, financial support, and future decisions.”
— Jennie Wray
On Signing Day, athletes formally accept an offer by signing a financial aid agreement. This is a legal contract between the athlete and the institution.
A typical financial aid agreement outlines:
The amount and type of aid (tuition, room, board, books, etc.)
The duration of the aid (often one academic year)
Conditions for maintaining eligibility (academics, conduct, team rules)
Circumstances under which aid may be reduced, canceled, or not renewed
Compliance with NCAA and institutional policies
Importantly, a financial aid agreement may not require the athlete to remain at the school indefinitely. Transfers, coaching changes, injuries, or changes in role can all affect how the agreement operates.
Before signing, athletes and families should ask:
What happens if I transfer?
What if the coach leaves?
What if my playing time or role changes?
What if I am injured or redshirted?
These contracts shape eligibility, finances, and future opportunities—and should never be treated as mere paperwork.
Revenue Sharing: A New Era in College Sports
“Revenue sharing represents a fundamental shift in college athletics—athletes are no longer just scholarship recipients, but participants in the value they help create.”
— Jennie Wray
Revenue sharing is one of the most significant changes in modern college athletics. It allows schools to directly compensate athletes using revenue generated by athletic programs, such as media rights, ticket sales, and sponsorships.
This shift emerged from recent legal developments and recognizes that athletes help create the revenue universities earn.
Key Points About Revenue Sharing
It is new and evolving, with rules and practices still developing
It is most common at large Division I programs
It is often concentrated in revenue-generating sports, though schools have discretion
It is separate from NIL compensation
Revenue Sharing vs. NIL
Revenue sharing: Paid directly by the school based on team participation
NIL compensation: Paid by third parties (brands, businesses, collectives) for use of an athlete’s name, image, or likeness
Because revenue sharing involves direct school payments, it comes with detailed contracts that must be carefully reviewed.
Key Terms to Review in Revenue Sharing Agreements
Revenue-sharing contracts may address:
How much the athlete is paid and how often
Whether payments are monthly, semester-based, or performance-based
The length of the agreement and renewal terms
What happens if the athlete transfers, is injured, or redshirts
Whether payments can be paused, reduced, terminated, or clawed back
Because there is no standardized language yet, agreements can vary widely between schools, sports, and even athletes on the same team.
Bottom line: Do not rush to sign. These terms directly affect financial security and future decision-making.
Protecting Athlete Rights Before Signing
“This should be an exciting moment, not a rushed one. Athletes should never feel pressured to sign something they don’t fully understand.”
— Machia Mullens
Athletes should confirm:
The official NCAA signing period is open
The document they are signing is valid and enforceable
When financial aid agreements include revenue-sharing provisions, the legal stakes increase. Some agreements include payback clauses or termination provisions that can have serious financial consequences.
Given the novelty of revenue sharing, careful review by qualified professionals is strongly encouraged.
What Happens After Signing Day?
“Signing Day is just the beginning. From compliance to finances, the decisions athletes make early on can affect them long after their playing days are over.”
— Jennie Wray
Signing Day is not the end—it is the beginning.
After signing, athletes must prepare for:
Life on campus
NCAA and school compliance requirements
NIL disclosure and reporting obligations
Revenue-sharing contract compliance
Academic eligibility standards
Athletes also assume new financial responsibilities, including:
Managing income
Understanding tax obligations
Keeping copies of contracts
Planning for potential repayment obligations
College athletics is now a business environment as much as an athletic one. Decisions made early can have long-term consequences well beyond an athlete’s playing career.
Common Questions from Families
Is donor money considered NIL?
Sometimes. Donor money can fund NIL deals if it flows through a legitimate NIL collective and is exchanged for real services (such as appearances or promotions). It cannot be paid simply for joining or remaining on a team.
Read more about NCAA guidance on NIL activities here.
Do I need an agent or a lawyer?
It depends. Agents often help secure deals, while lawyers focus on reviewing contracts and protecting legal rights. In states like Colorado, NIL agents are not licensed or regulated, making legal review especially important. Athletes may work with both.
Can non-revenue sport athletes receive compensation?
Potentially, yes. Schools that opt into revenue sharing have discretion in how funds are allocated. Athletes should ask schools directly how revenue-sharing models apply across sports.
Final Takeaway
“Our goal is simple: let athletes focus on doing what they love, while making sure the legal and financial pieces don’t put their future at risk.”
— Jennie Wray
Signing Day is thrilling—but it carries real legal and financial weight. Athletes and families should slow down, ask questions, and understand what they are signing. With the right guidance, athletes can protect their futures while fully embracing the opportunities ahead.
The Harris Law Firm offers complimentary consultations for webinar attendees and is committed to helping student-athletes navigate this rapidly changing landscape—so they can focus on doing what they love, with confidence and clarity.
For more information, please call (303) 622-5502 or learn more here.
