Since college athletes started making money off their name, image, and likeness rights in July 2021, the NCAA hasn’t done much in response. College athletics’ governing organization hasn’t put a cohesive plan in place over the last two years outside of banning pay-for-play and using NIL in recruitment.
Now, the NCAA Division I board of directors has told the Division I Council it wants a plan by October 2023.
The board of directors, led by NCAA President Charlie Baker, wants the plan to include injury insurance for all college athletes, a registration process for agents and financial advisers involved in NIL, a standardized NIL contract, and disclosure requirements for both student-athletes and collectives or companies that provide NIL compensation, per ESPN.
“We heard loud and clear that student-athletes are not always certain about what to look for in NIL contracts, and we hope to establish clear rules that help student-athletes navigate these deals to better — and more safely — capitalize on their NIL potential,” Florida associate athletic director and D-I Council and NIL working group chair Lynda Tealer said in a statement.
These rules will set a more uniform standard for NIL than the regulations that are currently in place. Without NCAA involvement, individual states are all passing their own laws, which vary greatly.
The college sports world is waiting for the federal government to get involved and put some blanket guidelines in place, but while there are several bills currently on the table, there is no telling when Congress will get around to passing these laws.