NCAA Student Athletes Can Now Profit Off Their Own Name, Image and Likeness

Starting Thursday, every student athlete in the country will be able to earn their own money through endorsements and other ventures, thanks to a new ruling from the NCAA that is set to shake up college athletics.

The NCAA’s board of directors decided Wednesday to officially suspend the organization’s controversial rules prohibiting athletes from profiting off their names, images and likenesses. The ruling represents a major shift in players’ rights and the association’s definition of amateurism.

“This is an important day for college athletes since they all are now able to take advantage of name, image and likeness opportunities,” NCAA president Mark Emmert said in a statement. “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. The current environment — both legal and legislative — prevents us from providing a more permanent solution and the level of detail student-athletes deserve.”

The new rules will allow athletes to profit by monetizing their social media accounts, signing autographs, teaching camps or lessons, starting their own businesses and participating in advertising campaigns, among many other potential ventures. Athletes will also be allowed to sign with agents or other representation to help them acquire such deals.

However, the rules that prohibit schools from paying athletes directly still apply.

Over the years, politicians have proposed multiple bills aimed at reforming college sports, but the NCAA board reportedly hopes Congress will now follow its lead and create a uniform national law with more defined regulations.