What is Third Party Name, Image, and Likeness? What is Revenue Sharing?
Third Party Name, Image, and Likeness: Student-athletes are also eligible to work with and promote third-party entities utilizing their personal name, image and likeness. Third-party NIL payments must be fair market value payments for a legitimate business purpose and not used as “pay-for-play” (e.g., merely an inducement to enroll or remain at a particular institution.) Legitimate third-party NIL payments do not count towards the revenue share cap that institutions are bound by per the House Settlement.
Any third-party deals involving a student-athlete must be reported to the newly established College Sports Commission (CSC) via NILGo.com. These deals are subject to independent review by the CSC to determine fair market value and permissibility.
Revenue Sharing: As of July 1, 2025, The University of Wyoming is permitted to directly share revenues (via Name, Image and Likeness Agreements) with student-athletes. These NIL-related benefits are in addition to student-athlete scholarships and cost of attendance dollars provided to Wyoming student-athletes.
How is Wyoming Athletics Engaged in Revenue Sharing?
As of July 1, 2025, the University of Wyoming has been engaged in “revenue sharing” with its five revenue-generating sports (Football, Men’s Basketball, Women’s Basketball, Volleyball and Wrestling). Student-athletes from each of these sports may be asked to enter into Name, Image and Likeness agreements with UW Athletics to promote our institution and department. UW has entered into agreements with roughly 75 student-athletes across these five sports. The head coaches of these sports are engaged and excited about the future opportunities within our programs to attract and retain high-quality student-athletes on and off the playing surface. To be successful now and in the future, we need to grow ALL forms of revenue. From ticket sales and sponsorships to Cowboy Joe Club donations; every dollar matters as to push forward in this new NCAA landscape.
Additional Avenues for Fans and Businesses to Impact Revenue Sharing and NIL at UW
The Cowboy Joe Club: University of Wyoming supporters make direct gifts to the Cowboy Joe Club that directly impact the student-athlete experience. Donations to Cowboy Joe generally support student-athlete scholarships, team travel, nutrition, mental health and overall department/sport operations. Additionally, now Wyoming supporters may directly donate to student-athlete revenue sharing efforts.
Wyoming Sports Properties: Turn your business into a community connector! Leverage student-athlete marketing to expand your messaging with Cowboy and Cowgirl student-athletes through sponsorship of Wyoming Athletics. To learn more about integrating student-athletes into your business, visit Gowyo.com/sponsorship.
Wyoming Athletics Exchange (Teamworks Influencer): The Wyoming Athletics Exchange provides a portal for communicating and fulfilling NIL transactions with Wyoming student-athletes. Prospective partners (both individuals and businesses) can register with the Exchange and immediately access a database of Wyoming student-athletes to work with. Student-athletes could do deals are large as a commercial or social media post to promote a business or deals as small as making a brief appearance at a birthday party or gathering to sign autographs/meet and greet