Student-Athletes Now Allowed to Profit Off Their Name, Image and Likeness – NBC 5 Dallas-Fort Worth
It’s been debated for decades, but now college athletes can finally make money off of their fame.
From merchandise items to public appearances and social media posts, athletes take advantage of the opportunity.
“I think it’s really good. I think it gives athletes the opportunity to build their brand, ”said aspiring TCU basketball player JaKobe Coles.
College athletes will be allowed to make money using their names, pictures and likenesses starting Thursday after the NCAA suspended rules on Wednesday that prohibited student athletes from pursuing advertising contracts.
New laws go into effect Thursday that will allow athletes in at least six states, including Alabama, Florida and Texas, to benefit from it.
“If the state hasn’t passed a law, the school can do what it wants, so it’s the wild, wild west now,” said Dan Gale, president of the Leona Marketing Group.
In Texas, athletes still have limitations.
Advocating alcohol and tobacco products, e-cigarettes, anabolic steroids, sports betting, casino gambling, a firearm that the student athlete cannot legally buy, or a sexually oriented business are, according to SB1385, which was passed by the Texas Senate in June, forbidden .
Gale says athletes also cannot use a school’s intellectual traits in their businesses.
“The most important thing a lot of people don’t talk about is which one has more value, the name of the school or the name of the athlete?” Gale said
The use of endorsements for recruitment is also prohibited.
But schools like the University of Texas have put in place programs to teach athletes how to use their platforms.
“There’s already a big gap between Texas and UTEP,” said Gale. “It’ll just create an even bigger gap.”
For athletes like Coles, it means opportunities off the pitch.
“I’ll be able to network and meet all kinds of different people and have an idea of what I want to do with my life after basketball. I think it’s going to be a great opportunity for everyone,” said Coles .
Congress is considering a bill that would provide a statewide standard, but no action is imminent.
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