'Wild, wild west:' College athletes cashing in with little oversight of name, image and likeness deals

In the first three months of the name, image and likeness era, millions of dollars in sponsorships and promotional payments have flowed directly into the pockets of college athletes – often in creative ways. 

Arby's is offering Division I running backs $500 for a single tweet. A Michigan-based mortgage company is giving $6,000 per year to every football and men's basketball athlete at Michigan State, in exchange for advertising. And protein bar company Built Brands is effectively covering the cost of attendance for BYU walk-on football players.

"NIL, when it came out and in the last several weeks, it’s a little bit of the wild, wild west, right?" Built Brands co-founder Nick Greer told local reporters in August.