The U.S. Supreme Court case of National Collegiate Athletic Association (NCAA) v. Alston ruled that the NCAA violates federal antitrust laws by prohibiting compensation for collegiate athletes. This decision gave collegiate student-athletes the opportunity for rightful compensation through the implementation of Name, Image, and Likeness (NIL) policies on a national level. The purpose of this study is to explore the outcomes surrounding the previous court ruling through a review of the literature. A gap within this context are the arguments, perceptions, and effect of NIL on the quality of collegiate sports experienced by collegiate fans and spectators alike. The significance of this literature review is to explore, analyze, and expand the understanding of NIL in reference to collegiate fans.