I posted something on this last week when the Supreme Court ruled that limits on compensating college violate U.S. antitrust law (it is one the links below for related posts).
Excerpts from The WSJ article:
"Under pressure to overhaul its vision of amateurism in college sports, the National Collegiate Athletic Association on Monday indicated that it would allow athletes in all 50 states to make money from their name, image and likeness as soon as July 1 without forfeiting their eligibility.
In making the move—which is still one step from final approval—the NCAA bowed to the actions of numerous state legislatures around the country, which have already moved to make it legal for college athletes to profit from their images."
“While opening NIL activities to student-athletes, the policy leaves in place the commitment to avoid pay-for-play and improper inducements tied to choosing to attend a particular school,” said the NCAA in a statement.
According to the Division I Council’s proposals, any student athlete in the country will be able to cash in once the policy is approved by the Board of Directors, no matter if their state has a law allowing athletes to profit from their name, image and likeness. The Board is scheduled to vote on the interim policy on Wednesday."
"On Monday, it confirmed that athletes may sign deals so long as they are “consistent with the law of the state where the school is located.”"
"The NCAA has repeatedly said it wants what it calls “guardrails” to prevent NIL activity from turning college sports into a pay-for-play venture. For example, the NCAA will not permit athletes to use the intellectual property of their universities or athletic conferences in NIL deals. The association also wants to limit the extent to which universities can facilitate sponsorships on behalf of their athletes to prevent nefarious recruiting inducements and booster involvement."
"Monday’s statement offered few details aside from suggesting that athletes disclose their NIL activity to their universities and athletic conferences and permitting them to use “professional services,” including agents, when negotiating endorsement and sponsorship deals."
Related posts:
Cost of attendance stipends in college sports
How The Economics Of College Sports Might Be Distorted
All is not well (financially) in the world of college football
Will Moving To NCAA Division I Status Pay Off For The University of the Incarnate Word?
The Flutie Effect: When The Teams Win, More Students Apply To The College.
There's A New Book On The Economics Of College Sports
The NCAA wants an antitrust exemption from Congress so it can oversee name, image and likeness deals
What Economists Say About "March Madness"
Public universities spend more per per athlete than they do per student
March Madness Is a Moneymaker. Most Schools Still Operate in Red.
Supreme Court Rejects NCAA’s Tight Limits on Athlete Benefits, Compensation
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