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 publicity
- The College Sports Commission and how it reviews NIL deals
- The Nebraska and PlayFly case, and why the contracts were the problem
- Why even a small NIL deal needs its rights language reviewed
- How brands can work with role players, not only star athletes
- Roster cuts in non-revenue sports like tennis and swimming
- High school NIL, state-by-state rules, and protecting minors
- Sports 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 Hub
- NIL Pros and Cons | The College Game Is Changed Forever
- What the Protect College Sports Act Reveals About Athlete Representation
- Did You Know You’re Paying for College Sports?