Tomorrow, July 1st, 2021, the new NIL rules and laws will take effect. NCAA student-athletes will be legally able to profit off of their own name, image, and likeness. However, many fans and businesses who may want to pay a student-athlete to endorse a product have probably wondered how exactly this may work. Well, now we have that information:
One very important note is that recruits still cannot be paid by anyone to sign with a particular institution. That’s still a major recruiting violation. Also, current student-athletes cannot be paid or compensated for performance or simply because they are a star athlete. That still constitutes a major violation as it is considered pay-for-play. So, no “$100 handshakes.”
While many NCAA “amateurism rules” remain in place, student-athletes can now earn compensation for their NIL. It opens up a whole new world for them and allows them to profit off of something every other human being on the planet can. There are still some restrictions and, as always, the rules and their nuances can be a headache, but allowing young men and women to make money off their hard work is worth it.
