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Wish you could make an extra buck? So do college athletes. The NCAA surpassed $1 billion in revenue a few years back. It divvies up its profits to colleges and universities, but not a single penny goes back to the athletes themselves. Let's face the facts. If Alabama wants a new science building, the football team is paying for it. Same for that accounting professor's salary...  The NCAA's rulebook says athletes can't use their status to make any money at all. In other words, they can't sign endorsement deals. They can't profit from their social media following. They can't even use their name or picture to promote themselves to give private lessons. Zion Williamson was never able to make money off of being Zion Williamson until after his time at Duke. He couldn’t profit off of his stardom and influence—even though he had millions of fans before he even laid a foot on Duke’s campus. If only he were a few years younger, because that's all about to change. Word on the street is that starting in the Fall of 2021, collegiate athletes will be able to sign endorsement deals and promote businesses using their name, image, and likeness. For college towns, this means the athletes can be paid to advertise for local businesses. Get ready for your University’s quarterback to become an ambassador for your favorite bar. **Read more FS Stories here. If you liked reading this article, you might also like The Wedge: a quick-to-read weekly e-mail newsletter with awesome business stories that'll increase your creativity and resourcefulness just by reading them. Learn more and sign up here. Comments are closed.
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