Yeah, I see what you are saying.
However, I guess it would depend on if the NIL money comes a) directly from the school, in which case it'd be more like a prohibited athletic scholarship, OR b) from an alumnus, booster, business, etc; which is where most NIL money comes from.
If it is the latter, then based on the court rulings that have come down, there may be no way to stop, limit, or prevent that.
OTOH........given how little press and media attention that D3 athletics gets, there probably would be little to know advertising value in any of those entities sponsoring a D3 athlete. Alumni, boosters, and businesses are happy to pay for the use of an athlete's name, image, and likeness at a Power Four school, simply because having their name attached to that jock turns into advertising and real media attention. By contrast, there would be little comparable value for a D3 athlete.
However, I guess it would depend on if the NIL money comes a) directly from the school, in which case it'd be more like a prohibited athletic scholarship, OR b) from an alumnus, booster, business, etc; which is where most NIL money comes from.
If it is the latter, then based on the court rulings that have come down, there may be no way to stop, limit, or prevent that.
OTOH........given how little press and media attention that D3 athletics gets, there probably would be little to know advertising value in any of those entities sponsoring a D3 athlete. Alumni, boosters, and businesses are happy to pay for the use of an athlete's name, image, and likeness at a Power Four school, simply because having their name attached to that jock turns into advertising and real media attention. By contrast, there would be little comparable value for a D3 athlete.