After years of debate on whether or not NCAA college athletes should be able to make money while on the team, the Board of Governors have approved an interim policy that will allow athletes to monetize their names, images, and likeness.
According to CBS Sports, this waiver is intended to cover athletes nationwide and last until either federal legislation is passed or a more permanent NIL rule can be created by the NCAA. It sets minimal regulations for the new world of college sports, one in which athletes will be able to make money from endorsements, sponsorships and social media, among other avenues.
"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."
“Image courtesy of CBS Sports”