The College Sports Commission released its latest NIL Deal Flow Report on May 7, and the headline number is big. Between March 1 and April 30, the NIL Go clearinghouse cleared 5,531 deals worth $75.85 million.
That's nearly double the first two months of the year, when 3,704 deals worth $39.29 million cleared, according to On3.
The numbers at a glance
- March-April cleared: 5,531 deals, $75.85 million
- March-April not cleared: 442 deals, $26.87 million
- January-February not cleared: 187 deals, $14.36 million
- Cleared since June 2025 launch: 26,556 deals, $242.35 million
- Not cleared since launch: 1,153 deals, $56.17 million
Rejections are rising faster than approvals
Deal volume nearly doubled, but rejections more than doubled. The dollar value of deals that didn't clear jumped from about $14 million to nearly $27 million over the same stretch.
That lines up with what the CSC has been signaling for months. In an April memo, the commission warned that contracts paying for NIL "with no information about who will ultimately use that NIL will likely run afoul" of its rules. Bigger, less specific deals tend to be where the friction is.
Speed is slipping
The report said 45% of deals submitted through NIL Go got a decision within 24 hours. According to On3, the CSC pointed to a "significant increase" in third-party deals submitted since January, and those agreements have to go through the clearinghouse review.
For athletes waiting on a payment, a week can feel like a long time. For brands planning a campaign around a game or a big moment, timing really matters.
Arbitration is coming
As of April 30, 21 deals had gone to arbitration, consolidated into three cases. One involves Nebraska athletes. Arbitration is the first real test of whether the CSC's rejections hold up when schools and athletes push back.
What it means for fans and athletes
Two things stand out. First, the NIL market is still growing fast, even with tighter oversight. Brands and businesses keep finding reasons to work with college athletes.
Second, the system is clearly built to scrutinize large, vague deals. Smaller, clearly defined deals, where an athlete delivers a specific post, appearance or piece of content, are a better fit for how the rules are written. That's worth knowing whether you're an athlete weighing an offer or a fan wondering how the money actually moves.
We'll be watching whether the rejection rate keeps climbing in the next report.