NCAA Supports Student-Athletes Ability to Profit from Name, Image and Likeness
The NCAA brings in over one billion dollars in revenue in just one year. But players don’t see any of that money and, for a long time they couldn’t earn anything but scholarship funds. The NCAA has recognized that times are changing and during a new social media era, ancient rules could be changing too.
During the month of April, the NCAA Board of Directors made a big move in announcing that they will be moving forward with a plan that will “allow college athletes to make money off their name, image and likeness in a manner consistent with the collegiate model” from third-party endorsements as well as through businesses they started. This means that college athletes will be able to hire agents and sign endorsement deals without affecting the amateurism rules or losing their NCAA eligibility.
This will allow athletes to earn money from a variety of endorsements and many other activities including personal appearances and social media. This will open the door for athletes to make money on everything from autograph signings and memorabilia sales to signing endorsement deals with companies large and small to promote their business.
The board's action last month was based on recommendations from the NCAA Board of Governors Federal and State Legislation Working Group, which is composed of university presidents, commissioners, athletic directors, administrators and student-athletes. The proposed rule changes must still be voted on by NCAA membership at the next convention in January and new rules could go into effect no later than the 2021-22 academic year.
If the NCAA votes to move forward with the new policy, there will certainly be many guidelines in place to ensure that marketing and endorsements do not interfere with current NCAA legislation. Payments to athletes will not be permitted to be used as recruiting inducements to high school athletes from boosters of an athletic program. There will be no involvement of schools or conferences and deals cannot be used as a pay-for-play substitute. College athletes will also not be allowed to use their schools’ logos or trademarks in any sponsorship deals.
What could this mean for athletes moving forward?
There are many industries and businesses who understand that college athletes’ identities can be commercially lucrative, especially those with large social media followings. Building a following and understanding how to utilize your talent to gain recognition and enhance your popularity via marketing and social media will be essential to grasp years before you enter college.
As an athlete, having a plan of how to promote yourself and creating a brand around your image and the sport you play will be important in becoming an influencer if you want to make a profit under this new proposed rule change.