The NCAA Division I Board of Governors approved an interim policy in which collegiate athletes can be paid for their names, images, and likenesses for the first time in history on Wednesday. The policy is set in place until permanent federal legislation is passed regarding NIL protocols.
Now, collegiate athletes will be able to be financially compensated for their NIL throughout endorsements, sponsorships and social media.
"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."
Several marquee college athletes that would've stood to benefit from the NIL ruling if it were passed when they were playing collegiate sports had a lot to say as the laws went into effect on Thursday.
Following the ruling, the likes of Reggie Bush, Matt Leinart and Johnny Manziel reacted on social media.
Well well well….look what we have here 😏— Reggie Bush (@ReggieBush) July 1, 2021
Give Reggie Bush his Heisman back while we’re at it— Johnny Manziel (@JManziel2) July 1, 2021
I want to go back to college! 🤷🏻♂️— Matt Leinart (@MattLeinartQB) July 1, 2021
Ummmmmmm soooo …whoever has the key please hit me up. I need that key.. you know… the one to the secret room with the Banners…— Chris Webber (@realchriswebber) July 1, 2021
From 2004-2006, I would have made a bag 💰 on NIL endorsements. Sadly- I would have blown it all on Natty Light and Lacoste polos (with the collars popped, of course).— JJ Redick (@jj_redick) July 1, 2021