Do third-party NIL deals that are not cleared by NIL Go automatically count towards the revenue sharing cap?

No. However, an institution could work with the payor and student-athlete to revise the deal and re-formulate it from a third-party deal to an institutional agreement. This would then be subject to the revenue sharing cap and would be required to be submitted to the College Athlete Payment System (CAPS). Find out more about CAPS at https://www.collegesportscommission.org/revenue-sharing