Florida Board of Education Sets Rules That Allow College Athletes to Make Money From Their Image | Florida

Florida Board of Education Sets Rules That Allow College Athletes to Make Money From Their Image |  Florida

Adopted rules also state that colleges must provide financial literacy and life skills at the beginning of a student athlete’s first and third academic years. The rule states that this is a requirement for all student athletes, not just the ones receiving compensation for their NIL. These rules also prohibit a college from restricting a student athlete from receiving compensation for their NIL. But the rules also states that a student “may not enter into a contract for compensation for their NIL if the contract conflicts with a clause found in the student athlete’s team contract.” This report first appeared on the website of the Florida Phoenix, a nonprofit news organization dedicated to coverage of state government and politics from Tallahassee.

Students must notify their college “of a contract for compensation for their NIL, in a manner designated by the postsecondary educational institution.” The rules for college athletes state that they “may earn compensation for the use of their NIL if the compensation is provided by a third party unaffiliated with the athlete’s postsecondary educational institution.”

As for the individual colleges, the adopted rules require they create or adopt their own policies on how athletes are compensated. “Minimally, the policies or procedures must include the process student athletes must follow to notify the institution of a contract for compensation for their NIL,” the rule says. Shortened to NIL, the legislation goes into effect July 1 and has rules for college athletes in the Florida College System, often referred to as the state’s community college system. (Regulations for Florida’s universities regarding compensation for an athlete’s name, image and likeness would come from the Florida Board of Governors.)

Source www.islandernews.com

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