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It’s Official: State Legislation Now Allows Student Athletes to Be Compensated for Endorsements

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On Monday, November 21st, New York Governor Kathy Hochul signed legislation which will allow New York college student athletes to now receive compensation for their name, image, and likeness without the risk of losing their scholarship or eligibility to participate in school athletics.








“Our collegiate student athletes are heroes on the field – and they deserve to be treated like heroes even after the final whistle,” New York Governor Hochul said. “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 specifically prohibits a school or athletic conference from holding any rules that would prevent a student from earning compensation as a result of their name, image, or likeness being used, specifically towards the NCAA. It will also prevent a college or athletic conference from providing compensation to a student and will allow the use of professional representation by attorneys and athlete agents that are licensed in the state.

This legislation will now establish express law in New York allowing students to share in the economic benefits created by their athletic accomplishments, alongside their colleges and universities which may generate revenue through media, ticket sales, and merchandise.





 

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