In a historic move, the National Collegiate Athletic Association (NCAA) has shown green signal to its student-athletes to now be able to land endorsement deals and make money from their names, images and and likenesses.
Up until now, only the professional athletes in the US sports scene were having their names linked with major brand deals as well as product moniker for top brands, which generated a hefty income from them aside from their career.
NCAA student-athletes, on the other hand, were not allowed such luxuries. The nonprofit organization governing college sports in the country, always emphasised on the amateurism of the association.
However, in an unprecedented turn of events, the NCAA has made a 180 degree turn on their stance regarding the amateurism atmosphere in the college football scene and will now allow its players to enjoy the endorsement privileges that the pros have been enjoying so far.
NCAA will allow its players to make money from their name, start a business and endorse products- with some limitations
The decision came on Wednesday when the NCAA board of directors made the decision to suspend their policy that barred the student-athletes from making money by selling their name, images and likenesses.
“This is an important day for college athletes since they all are now able to take advantage of name, image and likeness opportunities. With the variety of state laws adopted across the country, we will continue to work with Congress to develop a solution that will provide clarity on a national level,” Mark Emmert, the president of the NCAA was quoted in an official statement on the association website.
“The current environment — both legal and legislative — prevents us from providing a more permanent solution and the level of detail student-athletes deserve,” Emmert added.
The student-athletes can now make money by monetizing their social media, autograph events, through training camps and lessons as well as kickstarting their own businesses. They will be allowed to have agents or similar representatives and can venture into partaking in advertising campaigns and other kinds of endorsement contracts from brands.
However, the massive step forward will still have some limitations, in accordance with state laws and policies created by individual schools. For starters, some of the regulations will bar athletes from endorsing alcohol, tobacco or any kind of gambling products, as well as not allowing the usage of school logos or any kind of similar copyright material for endorsements.