Universities & NIL With LSU’s Taylor Jacobs | NIL Series #3
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Episode Summary
In the constantly evolving landscape of NIL, understanding university guidelines as well as the resources that are available is paramount for success. From understanding state laws and NCAA rules, to what activities are allowed, or even how to manage taxes, there are several important topics that every student athlete should know.
In this episode of AWM Capital’s NIL Podcast Series, Taylor Jacobs, Compliance Coordinator at LSU, talks with Will McGuffey about how to effectively participate in the NIL marketplace. Taylor shares her insight on how student athletes and their families should prepare for and participate in NIL, navigating agent relationships, and how NIL can make a positive impact in their life. This episode is a great starting point for understanding how universities work with their athletes to effectively participate in NIL activities.
While there are still a lot of uncertainties and unknowns that surround NIL rules and regulations, this episode should help settle some of those worries by giving listeners an inside look at how universities are helping prepare their student athletes. With more and more schools implementing similar policies and educational programs, Taylor’s advice will help athletes at all schools feel more confident in where to turn for guidance as they prepare to enter the world of NIL.
Episode Highlights
(1:00): A look at Taylor’s responsibilities with NIL at LSU.
(1:50): The evolution of NIL from its inception.
(3:30): A discussion about what NILSU is and how schools are helping educate athletes and businesses.
(5:43): Common questions that athletes and businesses have about NIL.
(8:45): What type of disclosure is required for NIL agreements?
(10:48): Agents and NIL, what is allowed?
(12:57): Agent registration with the university and the state.
(15:43): Rules about the length of NIL contracts.
(18:47): How athletes can use NIL to prepare them for life after sports.
(19:30): A look at resources available for high school athletes to help understand NIL.
(21:56): A beginner’s look at taxes and money education for athletes.
(25:02): The effects of possible changes in state laws and NCAA rules.
(28:12): Important advice for anyone who wants to participate in NIL.
Stay Connected
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If you have any questions or would like to reach out to Will or Taylor directly, please email them at:
Taylor Jacobs – TJacobs@LSU.edu
Will McGuffey – WMcGuffey@AWMCap.com
+ Read the Transcript
Will McGuffey (00:11):
Welcome back everybody, to another episode of AWM Capital's NIL podcast series. Today, our guest is Taylor Jacobs, who is currently the compliance coordinator at LSU. Taylor has taken on the lead of basically everything NIL for LSU. She's the point person on a lot of activities, whether that's with a business community, student athletes, or other athletic department members. Our goal really today is to help our listeners understand what they should be thinking about, whether it's a student athlete, whether it's a business, a family member, about NIL on college campuses. Welcome to the show, Taylor, we're excited to have you on here.
Taylor Jacobs (00:49):
Yeah. Thanks for having me. I'm excited to be here.
Will McGuffey (00:52):
Well, good. I guess where we should really start off is tell us more about your role at LSU and what you do.
Taylor Jacobs (01:02):
As you mentioned, right now I am the compliance coordinator so I have my day to day compliance responsibilities, your standard complimentary tickets and occasional meals and all of that. But over the last 10 months, maybe a little longer, since we've been working on NIL I have become our NIL point person, which means I've taken on all of the name, image and likeness education, monitoring as far as disclosures go, communicating with our staff and our coaches and the community, making sure everyone is aware of what is happening in this space. To give you a specific job description, I don't really have that because it changes every day to be completely honest, but basically just helping us stay ahead in name, image, and likeness.
Will McGuffey (01:49):
And we talked a little bit before this podcast about how it is changing daily. It's an evolving space. How has this process been for LSU and for you since July 1st 2021 until today? What does that look like? I think when NIL started, everybody thought one thing, but as we talk about it changes every single day new things are coming, what has that been like for LSU, and what has that been like for you?
Taylor Jacobs (02:17):
It's been exciting. I'm just going to say that. I am one that loves a new challenge. I love change. I'm a former student athlete so just the fact that the student athletes have this opportunity now is super exciting that I get to be a part of that even in a small piece. It's been exciting. I will say from the very beginning before the legislation was passed, I feel that LSU was, and is, doing a great job at wanting to stay in front, and so we've continued to come up with ways that we can be better, that we can be the best, that we can help our athletes, that we can be involved in the community, obviously within the legislation.
Taylor Jacobs (02:56):
It's been exciting. It truly has. I think a lot of people, myself included in this department, did not anticipate how quickly this was going to move. I think before July 1st, we were all preparing for changes and what to expect and what we needed to prepare for, but it has escalated. It has just gone so quick that we're all, wow, we were not anticipating being where we are now, only seven months in.
Will McGuffey (03:26):
Can you tell me a little bit about NILSU. I think that's something that the branding has been on point, like you said, it's been exciting, you're excited to be a part of it. LSU has been staying a step ahead of everybody it seems, what is NILSU and then also tell us, you recently had an event at Tiger Stadium where there were members of the business community, athletic department, coaches there. Can you tell us a little bit about the thought process behind having that event and then what you've seen as positive benefits of it for the businesses, for the athletes and LSU in general?
Taylor Jacobs (04:04):
NILSU is our NIL program, so we, I wish I could claim that I came up with the actual name of it, but I can't, but that's why we have one of the best creative teams in the country. We are operating our whole NIL program from education, to disclosures, to social media, to events, everything under the name NILSU. And basically what I tell our staff, our recruits, our student athletes is our goal is to provide our athletes with everything they need to feel confident walking into a name, image, and likeness deal. I want them to understand how they pitch themselves to a brand, I want them to understand how they negotiate a contract. I want them to understand how they speak to a potential employer, which ties into life skills, which is great. We want to know that for life after college in general, but I want them to understand taxes.
Taylor Jacobs (04:56):
We spent this morning doing tax education. It's so much more than just, I'm going to go out and do a deal and make money. There are so many pieces to it and I think that's something our student athletes have learned over the last seven months is, hey, I'm not just going to get money in my mailbox and call it an NIL deal. That's not really what this is about. There's an exchange of service, I have to work for it, I have to do things. And I do think majority of them are having a ton of fun doing it because it is new and it's exciting and it's building their brand and all of that. Within NILSU, like I said, we're giving them the tools they need, we're helping them understand their brand versus the LSU brand and how they can build their personal brand and not just use the LSU brand and just making sure they have the resources that they need really.
Will McGuffey (05:43):
Now, you mentioned taxes and it's not just going and getting money out of the mailbox it's actually doing certain things under the state law and under NCAA guidelines. Have you seen any big issues or repeated questions that keep coming up for student athletes or business owners or LSU in general that our listeners should be aware of?
Taylor Jacobs (06:06):
I think the biggest, honestly, you mentioned the Go Time event that we hosted last week, really the goal of that was to create conversations surrounding NIL. We wanted people in the community, businesses, donors, everyone to understand that this is okay now, this is permissible, it's where we are in college athletics, and we're excited about it and we want everyone else to be excited about it. But the most common question, statement, conversation I had at the end of the event was, "I didn't realize it was this easy. I thought that there were all these hoops I had to jump through with the NCAA and I don't want to make an athlete ineligible," and coming from a compliance background, I'm, "I get it. I used to tell you that you couldn't provide coffee to a student athlete, because that was an extra benefit and now I'm literally telling you can pay them whatever you want, as long as there's quid pro quo there."
Taylor Jacobs (06:57):
I think just understanding that it really is simple, a business, an individual, whoever's going to make that connection with a student athlete and do that NIL deal just as long as there's that exchange of service, go for it. There are things to think about and the student athletes, this is taxable income now and I would hope that any business who participates in an NIL deal with a student athlete is obviously aware that we all have to pay taxes and they're going to provide 1099s and whatever documentation that student athletes need. But it's also on us to educate our athletes so that they know what to expect now. Just like we prepare them for their exams, with the academic center and we prepare them for competition on the practice field, I'm just preparing them for this new business venture that they can now engage in.
Will McGuffey (07:46):
Taylor, you mentioned the event, the NILSU event that took place recently, have you seen an uptick in opportunities that are presented to student athletes from businesses since that event? And what has the reaction been in the business community?
Taylor Jacobs (08:01):
I have definitely seen increased conversation as I have probably spent every hour of the day on the phone with somebody new who now wants to engage in a name, image and likeness deal. Again, as I said before, I think the biggest thing was people didn't know it was that easy, so now people are, "Okay, I want to do this, I want to engage in an NIL deal so here's my idea, what do you think?" And obviously I can't facilitate, I can't direct them to any particular athlete, but, go ahead, find an athlete that you can engage with and have fun, You all are going to come to your own terms and just make sure the athlete discloses it to me. And I definitely am seeing way more conversations so I've seen some more disclosures come in, but the conversations are happening, which is great.
Will McGuffey (08:48):
I think a couple things, at that event, you all mentioned there's a portal to find information on student athletes. Can you tell us where that is, what that is, and then also you just mentioned disclosure to LSU, can you talk about that process as well?
Taylor Jacobs (09:01):
The disclosure, basically we had a system that we were already working with on campus, and since we opted to do our education piece with Altius Sports Partners, that's who we work with at LSU, we just said we'd build the disclosure in the system we call [ARMS 00:09:18]. And it's just something that we use, the coaches use it for recruiting, the student athletes use it for their beginning of the year compliance forms, complimentary tickets. It's just something they were familiar with so we built it out there so that we weren't adding an additional disclosure process for them. It's pretty straightforward, very easy. They just go in there and provide the information of the deal and that's really it. As far as the other question you asked was?
Will McGuffey (09:44):
Just about if I'm a business and I know there is a portal or there is information to go find-
Taylor Jacobs (09:50):
The directory.
Will McGuffey (09:51):
... who LSU athletes were... Yeah, is there a directory? I know you mentioned that. How does that process work?
Taylor Jacobs (09:56):
We're working on something that I think is going to be really cool. It's basically going to be linked to the student athletes bio page on lsusports.net. You could pick a sport and you would just go through the roster and you could click on each student athlete and then there's hopefully going to be some button that says Connect for NIL Deals. And the student athletes have to opt in for this in order for me to share their information. I've been working with them on all of that to help them understand what it is and then they can opt in and then we can share their, whatever social media information, if they have an email that they're operating their NIL deals out of, potentially if they have an agent that they're working with that they want you to contact their agent. You laugh because agents here now. They are thriving in NIL space. I have a meeting tomorrow morning on it so hopefully it'll be up and running in the next week or so.
Will McGuffey (10:49):
I'm laughing because you know my background and a lot of our listeners do, I was an agent for over 10 years. Agents, compliant departments, agents and athletic departments haven't always seen eye to eye and quite frankly, when I was an agent, I didn't want you to know who I was.
Taylor Jacobs (11:04):
Right.
Will McGuffey (11:05):
I didn't want you to recognize my face, I wanted to have nothing to do with the compliance department, but now things have changed. Can you talk about what athletes, as far as, hey, they can have an agent now, what does that mean? Is it an agent for just NIL, is it an agent for negotiating with teams, what can agents do, and what should student athletes know about having an agent?
Taylor Jacobs (11:27):
Agents can now be involved specifically for NIL. Student athletes should still not be engaging with an agent for professional contract negotiations or anything past name, image and likeness, but somebody can have representation to assist them in name, image and likeness deals. We've seen agents, we've seen some attorneys that are just family friends that are helping out, there's a lot of marketing type companies that are facilitating deals and acting as agents so we're tracking on all of that. And it's funny because student athletes, 10 times, one student athlete called me at least 10 times and was, "Are you sure? Can I do this? Last year you told me I could not talk to him. Can I do this?" I'm, "I didn't tell you couldn't talk to him, I just told you couldn't sign anything, but yes, now you can."
Taylor Jacobs (12:21):
It's been crazy. And honestly, I do think that especially those who are really pursuing a lot of deals and social media deals, it's helpful to have that marketing rep or agency acting on your behalf. Just from managing all of the requests that come in, I have class, I have practice, I don't want to dig through all of these opportunities, so I think they're finding that if they know someone or they have someone available, then it's just better to work with them so that they can navigate that space easier.
Will McGuffey (12:55):
What about as far as the agents, do they register with LSU or do they have to contact you first and how does that work? I know LSU can't be involved as, hey, here's an agent, but what is your process for monitoring that for student athletes?
Taylor Jacobs (13:11):
Yes, the agent is supposed to register with us. Same way that they would've registered previously, it's the Louisiana Sports Agent Act, is that what it is? You would know better.
Will McGuffey (13:21):
I was an advisor, I was never an agent-
Taylor Jacobs (13:23):
Okay.
Will McGuffey (13:23):
... until they were out of LSU.
Taylor Jacobs (13:24):
They have to operate under that, so they have to register with the university, they have to register with the state. Agents and attorneys register with the state and we just keep the paperwork on file and we'll do education as to say, "You're representing this athlete for NIL purposes and NIL purposes only and there you go." I think where we've seen a lot of gray area, and this is something that I was trying to prepare people for in the beginning, but I don't think everyone realized how common it would be is these marketplace type sites, and they really do act as agents-
Will McGuffey (14:04):
Yeah.
Taylor Jacobs (14:06):
... and connect...
Will McGuffey (14:07):
You're talking about a MatchPoint Connection or...
Taylor Jacobs (14:07):
Yeah, I think MatchPoint-
Will McGuffey (14:07):
I've heard of...
Taylor Jacobs (14:08):
... is a perfect example. They're an awesome resource for everyone, for all of the student athletes. They can log onto the app and find a deal. And most athletes will say that, "I found this through MatchPoint," which is fine in their disclosure. But, I don't want to speak for MatchPoint, but I think a business could work with them on a more detailed deal and MatchPoint will help with a lot more of the content and just provide more services for the business and the athlete so they do act more as a marketing rep or agent helping the athlete with [crosstalk 00:14:43].
Will McGuffey (14:43):
Facilitator.
Taylor Jacobs (14:44):
Yeah. Again, I don't really have a registration process for MatchPoint. They aren't attorneys or agents technically, but I think it's just us knowing institution, we're just tracking on that. The athlete tells me, "I got this through MatchPoint." MatchPoint, they're great and they call all the time and so we talk all the time. But there's a lot of those out there too, that we just have to be aware of and know our athletes are using these resources and I think the NCAA and everyone, senior administration here, everyone seeing hmm, this is not so black and white. It's not like agent and attorney, there's mom who facilitates deals for me and there's marketplaces and they're... It's just navigating-
Will McGuffey (15:26):
It's evolving. It's changing daily-
Taylor Jacobs (15:28):
... [crosstalk 00:15:28].
Will McGuffey (15:28):
... and trying to figure it all out.
Taylor Jacobs (15:29):
Every day.
Will McGuffey (15:29):
Like you said, this is crazy just watching the evolution and I'm very fortunate that I get to talk to people like you, I get to talk to people like David Fleshman. I know athletes, I know agents so it's fun trying to put all the pieces together. One thing I was thinking about is for an NIL deal, can a business partner with a student athlete for a deal that let's say lasts beyond their time as a student athlete? Let's say I'm a senior at LSU right now, I enter into a business contract and I want to do a couple pf promotional activities, but a couple of those actually extend beyond my eligibility here. Can they do that or is there some rule that they should be aware of that says, no, this has to end on June 1st of your senior year?
Taylor Jacobs (16:18):
Yeah. I think technically in the state law, it says contracts shouldn't extend past the student athlete's eligibility. With that being said, the student athlete could go be an influencer for the company after their eligibility, just as their person.
Will McGuffey (16:35):
Okay.
Taylor Jacobs (16:36):
There's going to be restrictions on how they use LSU and the mark and the colors and all of that, which is still going to be applicable to student athletes. And once they graduate, I would say most of the conversations that I've been a part of people are keeping it within eligibility because there is that guideline in the state legislation right now. But I have talked to multiple businesses who've followed up after they did an NIL deal and they're, "Hey, I love this kid. This athlete is so great, they're awesome. I think they're going to stay in town and they want to do X, Y, and Z for me." And I'm, "Great. You should have hire them, give them a job, hire them full time." And that's what I think we're really trying to teach both the community and our athletes, use this as an opportunity to meet people.
Taylor Jacobs (17:25):
This is just broadening your network. You're able to now communicate with boosters and businesses on a completely different level. Use that, capitalize on that and take advantage of the people that you know. We have a student athlete on the topic of MatchPoint, I think, we have several student athletes that do things with them and they're thriving. If you're interested in doing something in this space, maybe that provides a job opportunity after college. I don't know. I don't know if that's what they want to do, but I just think that it's just creating so much good exposure.
Taylor Jacobs (17:58):
And the student athletes who they're here, and a lot of them are sports management majors, or they have this idea that... I was a student athlete, I had this idea I wanted to work in college athletics for no other reason than I was an athlete and college athletics would be fun because I like sports. Could I have gone and done a trillion other things? Probably, but this is what I was focused on. And now they can engage in, like I said, these conversations with so many cool people and cool businesses and just see, wow, there's so much more to life than just [crosstalk 00:18:29].
Will McGuffey (18:29):
Just being an athlete.
Taylor Jacobs (18:30):
Just being an athlete. I remember the day of my retirement, I sat there for a minute and I was, I don't know what to do now. I literally don't know what to do with myself and now they should have a little black book of things to do.
Will McGuffey (18:43):
Yeah, no, and I think that's great, because at the very beginning you're talking about, hey, we want to prepare our student athletes, not just for college and not just for these deals, but for life moving forward, that's part of this process. And I've always been a proponent and said, look, you go to... And we'll use LSU because that's where you're at, but you go to LSU and you're a good person, you're part of the team, you're going to likely have opportunities after you're playing days or over because of the people you met. I think this just accelerates that. Like you just said, this accelerates you not only getting to know other business people, but getting to know businesses and actually partnering and having a relationship. And I think it's great that you all are at the forefront of branding and helping educate the student athletes on that process.
Will McGuffey (19:28):
Now with that being said, I want to change I direction a little bit. We've talked a lot about the LSU student athlete who's currently there. What about a prospective student athlete? Let's say it's a player that's... Because we all know that they're committed well in advance of actually showing up on campus and getting to know who you are or, or once they sign even. Are there certain things that LSU or any other university can provide prospective student athletes that might have committed or might have already signed to help them understand as far as resources on what NIL is? How do you all help them out or can you all?
Taylor Jacobs (20:05):
Right now it's pretty common for me to meet with recruits when they come on campus for visits and I give the NILSU presentation, I tell them what it's about, I tell them what our goals are here at LSU with NIL. And oftentimes the parents all have questions and want to know more, so we're actually working on building out some parent packet that would be a resource for recruits as well as soon as they enroll role here, I'm a new student at LSU, what do I need to expect? Now it's a thing. I feel like the last seven months we were so focused on helping our student athletes understand, okay, it's live, now you can play the game and now you can participate. But now we have incoming student athletes that when they get here, it's, okay, I've heard about it and I know I can do it, but what do I do?
Taylor Jacobs (20:55):
We are able to provide them resources, education, making sure they're aware of how our state law reads, because it is when they're a student athlete here, they operate under the Louisiana State Law, which is confusing. I had a parent, they're from Florida and she called and she was, "Well, do I operate under the Florida law or the Louisiana law?" "Well, when you're a student athlete here, you operate under the Louisiana law." It's boots on the ground it's how we're saying it, wherever your boots are on the ground.
Taylor Jacobs (21:24):
I think we just need to be very intentional with making sure they have everything that they need. Now, like I said, our big focus is making sure our student athletes feel confident, but I also need mom and dad to feel confident that their student athlete is being taken care of. Because just like you want to feel confident that they have a good dorm and they're eating and the coach is a good human and taking care of them, now it's, okay, are you teaching them about their money, are you teaching them about taxes, are you teaching them all the things? Trying to provide as many resources as we can, I guess.
Will McGuffey (21:56):
Yeah. Speaking about money and taxes, obviously that's what AWM Capital as a family office, that's what we do. And that's really the reason behind this podcast is just an education and learning experience. What is that process like for current and prospective student athletes for LSU? How are you all going about teaching them about taxes? How are you all teaching them about money and what it means? Do you all have those programs in place or are you all still developing that out?
Taylor Jacobs (22:23):
Our life skills program on campus already was doing a bunch of this. Before NIL was a thing they're educating on life after college and what life skills you need, so financial literacy was a big piece of that. I worked very closely with them to utilize the resources that they were using. We do have someone that we're using right now as our education provider. And so I just got looped in and was, hey, NIL is a thing and we need to speak specifically to it because there is going to be a little bit of disconnect when you're just teaching someone about starting a bank account and managing your money. And they're not thinking, oh, all of this new NIL money I'm getting, they're just thinking it's another education session.
Taylor Jacobs (23:06):
I want to make it engaging and fun and I want them to understand, okay, you just made $10,000 on NIL deals this year, now what are the implications of that? Because, it's taxable income, and prior to this, they've gotten their scholarship money, which is handled differently. I think just making sure again that we're putting it all out there, making sure everyone's aware, because if nothing else, if I'm putting it out there and they see, oh they're educating on NIL and taxes, maybe I should think about that. If nothing else they'll call me to say, "Hey, I saw you did this, what do I need to know?" And at least it creates a conversation.
Will McGuffey (23:45):
Let me know as soon as you figure out how to make taxes fun. When you figure out that program, just go ahead and slip me all the information because that's something that's never fun and we can't ever figure out how to make that enjoyable for anybody, so when you figure that out, feel free to call.
Taylor Jacobs (24:00):
It's actually been a huge learning process for me too, because full disclosure, my husband does our taxes. I know nothing about numbers and finance, my brain is creative and writing, no financial stuff. And so I've been listening to these sessions and I'm, huh, I wonder if we do that? I'm like, I don't know.
Will McGuffey (24:18):
No, I'm very fortunate obviously at AWM we have a full tax team and so those guys get all the questions I ask all the time. Sometimes I'll slip in some personal ones as well, but I get to rely on a full team of CPAs to basically answer anything. And for me it's been helpful on this NIL side as well, because it is new and it's 1099 income and W2 income, and what are the ways that you can really utilize this to your advantage? Anyways, that's just been a very interesting and learning experience, not just for me, but for student athletes and then our guests as well.
Will McGuffey (24:50):
One thing you mentioned is you said, hey, this is the law that's in Louisiana right now and these are the current rules at LSU. And I know in some of our past podcasts with our guests, we've talked about possible changes. Is there anything that you're anticipating as far as changes to SEC rules, LSU rules, maybe even state laws here in Louisiana, that might change some of this? And I know you might not be able to comment on that, but are there any anticipated changes that you see and how could that affect student athletes?
Taylor Jacobs (25:26):
This is such an interesting question. I don't know. Let me speak to the conference and the NCAA first. I don't think the conference is going to come in and do anything specifically. I think the world is waiting to see how the NCAA reacts to this year of NIL being allowed. There's been so many stories and tweets and things that, in my opinion, as a compliance officer, I feel are direct violations of the intention of NIL but that's not how the NCAA wrote the legislation really, so I think it'll be very interesting. Personally, do I think they're going to add more guidelines? I don't know, because I think the area is so gray and I think they probably are... I don't know, is this working?
Will McGuffey (26:18):
Just keep our hands off this, let everybody else make the mistakes first.
Taylor Jacobs (26:21):
And I know plenty of great people at the NCAA, so I'm not saying... I just think that it's just a very touchy subject. I don't know. As far as state laws, I don't know exactly how much I can really speak to, but I know conversations are being had. The world has seen certain states have amended and repealed and all the things with their laws so the conversations are being had amongst people. And I think that I anticipate, yes, there being state level changes.
Will McGuffey (26:57):
And I think one of the things that we've seen is the state laws were put in place before NIL was even able to happen and then reacting to what has taken place, some states are seeing, oh, hey, this is beneficial or not beneficial to a student or prospective student athletes that might come into our states, so I think there's a lot of conversation just like we talked about, hey, changing daily, evolving. The states themselves are seeing the same thing with the state laws.
Taylor Jacobs (27:24):
Yeah. I think Casey mentioned that at the Go Time event, Casey from Altius Sports. But I feel like at the beginning of it, everyone who implemented state laws we all thought we were on the one yard line. We were like, we're here, we're ready to go, it's great. And then on June 25th, when the NCAA basically implemented two rules, everyone who had a law with all these strict rules now went back to the 50 yard line and all the states who didn't implement laws are, well, cool, we only have two rules to operate under. We don't have anything.
Will McGuffey (27:53):
It's really easy for those compliance departments.
Taylor Jacobs (27:58):
Yeah. But like you said, just the ever changing. We just have to learn what works best and at the end of the day, what's best for our student athletes. I want to be able to help them and give them what they need so let's make sure we can do that.
Will McGuffey (28:11):
Yeah. Well, Taylor, I really appreciate the time that you've spent on here and in helping us understand a little bit more about what student athletes, perspective student athletes, businesses, agents, everybody should think about around NIL. One last parting question or piece of advice for anyone listening to this that might be a current student athlete, might be a prospective student athlete, anybody involved, what is one lasting piece of advice that you would give to anybody listening to this podcast about NIL, or is there anything that you would say, hey, look, go to this resource or go to this state law? What would you say is one last piece of advice that you'd give?
Taylor Jacobs (28:48):
Oh my gosh. I feel like I have a book of advice.
Will McGuffey (28:49):
Putting you on the spot there.
Taylor Jacobs (28:54):
I think it's don't be scared. Don't be scared to engage in it. That's applicable to our student athletes, it's applicable to businesses. This is the new era. It's very exciting, there's a lot of exciting things that I believe are going to come from it and have come from it, will continue to come from it, so don't be afraid. I tell our student athletes, "Don't be afraid to enjoy it, don't be afraid to engage in it," and I would say that to anyone who's looking to engage in a deal. Don't be afraid to do it, and if you have questions, that's what we're here for. Call us, we're here, we're happy to help. We'll help make it easy for you, but just don't afraid of it.
Will McGuffey (29:30):
Good. Well, look, we really appreciate you taking the time out of your day. And for our listeners go look at our show notes, we're going to actually put our contact information, no personal cell phones. I know that was a joke at the NILSU event, but we'll put my contact information, Taylor's contact information email so that you can reach out to us. And if there's questions you might have about NIL, please feel free to reach out to us. And if there's certain things that you would like to see on future podcasts, topics or something that's come up, please reach out to us. But Taylor, thanks once again for your time and we appreciate it.
Taylor Jacobs (30:05):
Yeah. Thanks for having me.
Speaker 3 (30:22):
The information in this podcast is educational and general in nature and does not take into consideration the listener's personal circumstances. Therefore it is not intended to be a substitute for specific individualized, financial, legal, or tax advice. To determine which strategies or investment may be suitable for you, consult the appropriate qualified professional prior to making a final decision.