The NCAA has unanimously voted in favor of student-athletes getting paid.
What We Know:
- The NCAA’s board of governors has voted unanimously to permit student-athletes to benefit from the use of their name, image, and likeness. This decision followed input over the past few months from current and former student-athletes, coaches, and presidents across all three divisions.
- California recently adopted a law that bans schools in the state from preventing student-athletes from accepting compensation from advertisers and allows them to hire agents. Politicians in Illinois, New York, and Florida have also introduced bills allowing endorsement deals for college athletes.
- The NCAA has reported annual revenues over $1 billion. This primarily comes from TV rights and marketing fees connected with its most prominent sports and events. The organization recently suggested it would “move forward with ongoing efforts to make adjustments” to the organization’s practices.
- The organization’s board chair Michael Drake said in a statement, “We must embrace change to provide the best possible experience for college athletes. This modernization for the future is a natural extension of the numerous steps NCAA members have taken in recent years to improve support for student-athletes, including the full cost of attendance and guaranteed scholarships.
There is currently no set timeline for the new changes.