Morgan Stanley (NYSE:MS) said its sports division has positioned itself in the college sports compensation space with a new partnership with Altius Sports Partners.
Altius is an advisory firm that offers guidance around name, image and likeness strategies. Financial terms of the partnership, which includes Australian-based investment bank Macquarie, were not provided. But in this collaboration, which emulates a educational-related sponsorship, Morgan Stanley will provide its financial resources to Altius, which will in turn present to clients.
Legislation protecting athletes’ name, image and likeness is set to be adopted by multiple states on July 1. Such NIL laws essentially allow college players to get paid for their intellectual property.
The U.S. Supreme Court will also rule on the issue after hearing arguments on whether current NCAA rules around compensating student-athletes violate antitrust laws. And U.S. senators will hold a NCAA Athlete NIL Rights hearing Wednesday to discuss federal proposals.
Hence, the signs suggest NIL will soon take effect and change the college sports landscape. And Morgan Stanley now has a presence.
In an interview Tuesday, Morgan Stanley executive Sandra Richards told the media the firm is "thinking ahead" as it prepares for a new generation of potential clients via NIL. Altius already has deals with top NCAA football schools, including Texas, LSU, and the University of Georgia. So Morgan Stanley’s brand will be introduced to younger athletes who could now earn large sums of money.
MS shares eased back 22 cents to $92.57.
