What an attorney who reviews NIL deals sees in the contracts, and what college athletes may be signing away. Philip Sheng is an attorney at Venable LLP, a national firm of roughly 900 lawyers, where he works in the intellectual property group and the sports law practice. His focus is college NIL, the right of publicity, and college eligibility: who owns a person’s name, image, and likeness, and what they give up when they sign. This is the on-the-ground legal view of NIL. For the full breakdown of how the system works, start with The NIL Hub, NIL Rules in 2026, and NIL Pros and Cons. This episode is narrower. It is what a practicing attorney sees inside the deals themselves. Eric Kasimov talks with Sheng about NIL as both a legal and an athlete-centered issue. They get into whether NIL is really athlete compensation, intellectual property, or both, and why the issue was known as the right of publicity long before college sports made it a household term. Sheng has lived the landscape from several sides. He played tennis at Stanford, competed as an ATP-ranked professional, and now has children navigating college athletics, including Division I basketball and tennis. Topics NIL as intellectual property and the right of publicityThe College Sports Commission and how it reviews NIL dealsThe Nebraska and PlayFly case, and why the contracts were the problemWhy even a small NIL deal needs its rights language reviewedHow brands can work with role players, not only star athletesRoster cuts in non-revenue sports like tennis and swimmingHigh school NIL, state-by-state rules, and protecting minorsSports betting, college students, and the value of staying in school Chapters in This Episode 00:00 Philip Sheng’s background in law, tennis, and college sports 00:36 Venable LLP, intellectual property, NIL, and sports law 02:11 NIL as right of publicity 03:15 Stanford, conference realignment, and athlete travel 04:13 The burden on student-athletes 06:29 What college sports used to be for 07:00 Money, transfers, and the changing athlete experience 09:20 NIL checks, taxes, and athlete education 09:36 Bad agents and why guidance matters 12:25 Has NIL gone too far? 13:00 Congress, courts, media, fans, and pressure to change 16:11 Money, rosters, and the college experience 19:05 What the College Sports Commission does 20:00 Fair market value, valid business purpose, and NIL deal review 20:55 Nebraska, PlayFly, and unclear NIL contracts 22:39 Why the Nebraska case was not just bad paperwork 23:40 Why other schools are watching 25:00 Lawyers, arbitration costs, and legal representation 26:18 Sheng’s view of the CSC and NCAA enforcement 28:46 College football playoff expansion and media money 31:00 What happens if schools sell marquee games differently 32:43 Why championships still matter 34:50 Sheng’s work with non-revenue sports and NIL contracts 36:08 Why brands should look beyond star athletes 38:47 Are NIL contracts becoming standardized? 39:45 Why athletes need contract review 40:38 Rights, music, and long-term ownership 42:02 College tennis, roster cuts, and non-revenue sports 44:29 International athletes and college tennis 47:25 Similar issues in soccer and goalkeeper recruiting 48:00 High school NIL and state-by-state rules 49:37 Youth sports, money, and family pressure 50:29 Sports betting, college students, and addiction risk 52:00 Athlete data, betting markets, and protection 54:00 The cost and value of college 55:00 Why athletes should not discount the college experience 57:25 Athletic fees, non-athletes, and campus tension 58:57 Burnout, injuries, and changing paths 59:28 Where to find Philip Sheng About Philip Sheng Philip Sheng is an attorney at Venable LLP, where he works in the firm’s intellectual property group and sports law practice. His work includes NIL, the right of publicity, college eligibility, NCAA eligibility, and athlete-related legal issues. He has practiced law for 15 years. He is also a former Stanford tennis player and a former ATP-ranked professional. That background gives him a view of college sports from both sides, as a former athlete and as an attorney working in NIL and intellectual property. He also brings a parent’s perspective, with children competing in Division I basketball and tennis. The combination shapes how he thinks about NIL, athlete contracts, non-revenue sports, and the value of the college experience. Connect with Philip Sheng:X | LinkedIn | Venable LLP Connect with Eric and SportsEpreneur:LinkedIn | X | SportsEpreneur on LinkedIn | SportsEpreneur on X Related SportsEpreneur NIL Content The NIL HubNIL Pros and Cons | The College Game Is Changed ForeverWhat the Protect College Sports Act Reveals About Athlete RepresentationDid You Know You’re Paying for College Sports?
