College athletes that play for the NCAA have long had to abide by specific rules. One rule that has always been strictly enforced relates to compensation. In the past, college athletes could not receive payment for endorsements and other celebrity spotlights. As of July 1, 2021, now they can!
The new rule by the NCAA now allows college athletes to profit from endorsements.
The NCAA ruled to allow college athletes to profit from their name, image, and likeness. Before this rule change, college athletes weren’t allowed to make money off their celebrity status. However, with the new rule now in effect, college athletes can endorse products and get paid for doing so while being in compliance with NCAA rules.
Ways for College Athletes to Profit from Endorsements
With the recent rule change, NCAA athletes can now receive payment for company endorsements. College athletes at all levels are able to receive money for the use of name, image, and likeness.
As of July 1, NCAA athletes can gain compensation for their name, image, and likeness. Compare this to the past restrictions where college athletes could be suspended or otherwise lose eligibility if they received payment for endorsements.
The NCAA rule change was likely brought about by certain states enacting laws regarding this topic. The state laws prohibit schools from preventing college athletes to earn money from endorsements and other profitable ventures.
California was the first state to make this prohibition illegal. The California law passed in 2019 and will go into effect in 2023. Following California’s lead, 19 other states have since enacted similar laws which are currently in effect or will go into effect in the future.
However, athletes should be aware of certain guidelines to the NCAA rule change. For example, college athletes aren’t allowed to use university logos and trademarks. Also, each college may be able to prohibit certain endorsements. For example, the school may not allow an athlete to endorse a competitor of the school’s sport team sponsor.
Here are some ways for college athletes to profit from endorsements:
- Sponsored social media posts
- Advertisements
- Sponsored YouTube videos
- Autograph sessions
- Training camps
- Merchandise sales
Many companies look for sports celebrity endorsements. Now college athletes can take part in this money-making opportunity as well.
Benefits of the Rule Change
With the rule change, college athletes have access to quite a few benefits. First, college students can earn money while getting an education and playing the sport they love. These athletes have undoubtedly worked hard in the years leading up to college. They should have the opportunity to earn money while playing sports and going to school.
Another benefit to the rule change is that college athletes can establish corporate contacts which could lead to future job opportunities. Not all college athletes go on to play sports professionally after they graduate. Therefore, this access to company endorsements provides them with contact opportunities with sports companies and other corporations. This networking access may lead to a job after graduation.
In addition, with the new rule change, college athletes don’t have to choose between playing sports and earning money while in college. This endorsement rule change allows them to do both.
Potential Downfalls of the Rule Change
However, not everyone is a fan of the NCAA rule change. Some opponents to the new rule argue that turning college sports into a money making venture takes the love of the game out of it. It becomes more like professional sports where the players are there to earn money, not to support their college team.
Furthermore, other critics claim endorsements and earning profits take the athlete’s focus away from their education. The college athlete will be more excited about the money and less about the education they’re receiving. It should be the value of the college degree that the athlete is excited about.
However, even with these potential downfalls, the NCAA now offers the opportunity for college athletes to make money while playing their sport.
College Athletes to Profit from Endorsements and Play Sports
With this new NCAA rule change, college athletes can profit from endorsements and play sports. If you’re a corporate CEO or company owner that needs a campus brand ambassador, now you can hire a college athlete to represent your brand.
Find out more about campus brand ambassadors and the opportunities available by contacting Campus Commandos today!
Who is Campus Commandos?
Our college marketing agency functions to serve two purposes; to provide opportunity for college students, and to market products and services on behalf of brands to students on college campuses and universities across the United States. Contact us to learn more.
