New Georgia Law Legalizing College Athlete Endorsements Also Allows Schools To Take 75% of Athletes’ Money
Great news for college athletes in Georgia as they are now allowed to collect endorsements and sponsorships. The bad news, however, allows such schools to take a significant cut of that money.
This week, Georgia Gov. Brian Kemp signed the state’s new bill regulating athletes’ name, image and likeness rights.
According to Yahoo’s report, the bill that Kemp signed into law allows schools across the state to take up to 75% of an athlete’s endorsement income. The cut that is taken will then be deposited into a pool for all athletes at the school and then redistributed upon athletes’ graduation.
Basically, Yahoo says if Georgie decided to “implement the provision and take 70% of each athlete’s endorsement to redistribute, a player like J.T. Daniels would only make $30,000 on a $100,000 endorsement agreement.”
Georgia is now one of many states that have moved ahead with a law allowing college athletes to get endorsements in contrast with longstanding NCAA rules.