Texas College Athletes Can Make Money Off Their Name and Likeness
It's a good thing Texas passed this law or else they could have lost out on potential recruits.
A positive step forward is happening in Texas for student athletes. Governor Greg Abbott signed Senate Bill 1385 which allows college athletes to be compensated for use of their name, image and likeness. For years schools were allowed to profit off of star players without having to give the player anything. Texas will become the 17th state in the country to allow this sort of compensation.
“This legislation will ensure Texas college athletes receive fair compensation for their efforts and prowess on the field, court and everywhere they display their talents,” said Representative Matt Krause. The Texas law will go into effect on July 1st of this year. So just a few weeks away.
Oklahoma is working on similar legislation. However, as of right now nothing is finalized. They plan to have a similar deal done by at the latest in July of 2023. We will see if that costs them some recruits the next few years.
Included in the bill are stipulations that athletes be paid “fair-market value” for their services and use of their name, image and likeness. Athletes would be able to be paid for everything from promotional appearances to product endorsements to autograph sessions and training sessions. This does not mean a student athlete can endorse anything they want.
They cannot endorse gambling or illegal firearms and from engaging in commercial activities which contradict institutional honor codes. Athletes will be required to take part and attend a literacy and life skills workshop of at least five hours at the beginning of the students’ first and third academic years at their schools. The workshops would include information about financial aid, debt management and budgeting.