College Athletes In New York State Can Now Make Money Off Their Names
Governor Kathy Hochul signed legislation that allows college athletes in New York State to make money off their names on Monday, November 21, 2022. The bills (S.5891-F/A.5115-E) allow student-athletes to get paid for their name, image, or likeness without the risk of losing their scholarships or eligibility to participate in athletics at their college.
Gov. Hochul said,
Our collegiate student athletes are heroes on the field - and they deserve to be treated like heroes even after the final whistle. For too long, collegiate student athletes have not been able to benefit from the extraordinary benefits their hard work has provided to their schools. I'm proud to sign this legislation that will help New York's collegiate student athletes earn the recognition they deserve.
The legislation stops colleges and collegiate athletic conferences from enforcing any rules that prevent student-athletes from competing just because they receive compensation.
It also prohibits a college or collegiate athletic conference from providing compensation to a student for use of name, image, or likeness and allows players to use professional representation provided by attorneys and athlete agents licensed in New York State.
The law also requires that colleges in the NCAA Division I athletics provide student-athletes with services, including career development, discrimination and harassment training, financial and mental health, and leadership training.
Prior to the new law, many student-athletes, including those of color, were not able to receive any compensation for their talent, skills, and hard work, which generated billions of dollars. In 2019, college athletic departments generated a total of almost $19 billion in 2019 in revenue, according to a report by the NCAA.