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NCAA clears the way for college athletes nationwide to profit off name, image, and likeness

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Choo choo! Here comes the money train into endorsement station!

Operations At The Bureau Of Engraving And Printing As The $1 Bill Is Printed

The NCAA procrastinated on the whole name-image-likeness situation until almost literally the last minute, but finally Wednesday, a day before NIL laws go into effect in a number of states, a resolution (of sorts) arrived.

Effective July 1, no college athlete will be prohibited from earning money off of his or her name, image, and likeness. There are no concrete, wide-ranging guidelines in place for this right now, because the NCAA never got around to establishing any, opting instead to kind of motion in the general direction of Congress and possible federal legislation.

So it’s going to take a minute for everybody to feel out the change to the landscape. Via ESPN:

According to Wednesday’s rule change, schools in states that have an NIL law on the books are instructed to follow state law while determining what their athletes can do. The NCAA instructed schools located in states without an active NIL law to create and publish their own policies to provide clarity to the gray area and come up with a plan to resolve any disputes that arise.

Ten states have NIL laws that go into effect tomorrow, which is what forced the NCAA to act today. North Carolina is not among those 10—a prospective bill has been introduced, but that’s as far as the General Assembly has gotten.

There may initially be more headaches for the schools in states with no NIL law on the books, but just about everybody has been preparing for July 1 in some capacity, assuming that widespread change to NIL rules was inevitable.

The next few days should be fascinating as we begin to hear about some of the deals that athletes have been able to put together.