“For years, student-athletes, especially those from minority communities, have been disadvantaged from monetizing their image, or what we call ‘player intellectual property,’” Jerome Williams, founder of Alumni Pros Global Sports, told Vox. “There’s an ongoing revenue stream college athletes are not a part of.”
Big sports universities produce millions annually because of college athletes, who are not allowed to financially benefit from any of this. Unfair? Maybe. Especially when NBA and WNBA players are paid handsomely in contracts, sponsorship and brand deals. The National Collegiate Athletic Association (NCAA) is looking at potentially righting this wrong by advising the name and likeness policy.
“So many young athletes use social media to supply their friends and fans with clips of themselves playing and training,” Williams said. “Everything they do and post is for this sport, but they’re never generating revenue from this content for themselves or for their families.”
ESPN estimated that student-athletes could earn a massive $1,000 to $1 million dollars if the rule passes. Currently California, Colorado, and Florida have passed laws that allow students to monetize their personal brand. Florida goes into effect in July 2021, with California and Colorado in January 2023. The NCAA is now looking to make it a federal law so they can control the guidelines, regulate endorsements and recruiting before any other states sign on.
Personally, this makes a lot of sense to me. The NCAA will continue to make money through merchandise and ticket sales, apparel deals, television contracts and more. Whereas, student athletes will finally get paid for what their worth. Could this change college basketball forever? Only time will tell.