
An NIL Attorney on Contracts and Athlete Ownership | Philip Sheng of Venable LLP
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.TopicsNIL 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 schoolChapters in This Episode00:00 Philip Sheng’s background in law, tennis, and college sports00:36 Venable LLP, intellectual property, NIL, and sports law02:11 NIL as right of publicity03:15 Stanford, conference realignment, and athlete travel04:13 The burden on student-athletes06:29 What college sports used to be for07:00 Money, transfers, and the changing athlete experience09:20 NIL checks, taxes, and athlete education09:36 Bad agents and why guidance matters12:25 Has NIL gone too far?13:00 Congress, courts, media, fans, and pressure to change16:11 Money, rosters, and the college experience19:05 What the College Sports Commission does20:00 Fair market value, valid business purpose, and NIL deal review20:55 Nebraska, PlayFly, and unclear NIL contracts22:39 Why the Nebraska case was not just bad paperwork23:40 Why other schools are watching25:00 Lawyers, arbitration costs, and legal representation26:18 Sheng’s view of the CSC and NCAA enforcement28:46 College football playoff expansion and media money31:00 What happens if schools sell marquee games differently32:43 Why championships still matter34:50 Sheng’s work with non-revenue sports and NIL contracts36:08 Why brands should look beyond star athletes38:47 Are NIL contracts becoming standardized?39:45 Why athletes need contract review40:38 Rights, music, and long-term ownership42:02 College tennis, roster cuts, and non-revenue sports44:29 International athletes and college tennis47:25 Similar issues in soccer and goalkeeper recruiting48:00 High school NIL and state-by-state rules49:37 Youth sports, money, and family pressure50:29 Sports betting, college students, and addiction risk52:00 Athlete data, betting markets, and protection54:00 The cost and value of college55:00 Why athletes should not discount the college experience57:25 Athletic fees, non-athletes, and campus tension58:57 Burnout, injuries, and changing paths59:28 Where to find Philip ShengAbout Philip ShengPhilip 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 LLPConnect with Eric and SportsEpreneur:LinkedIn | X | SportsEpreneur on LinkedIn | SportsEpreneur on XRelated SportsEpreneur NIL ContentThe 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?












