Michigan student-athletes, like thousands across the country in all sports, took to their social media accounts on Thursday to announce newly hatched endorsements, limited-edition items for sale, and to encourage potential business partners to send direct messages to their accounts.
The door for college athletes to profit off their celebrity was kicked wide open Thursday, a day after the NCAA Board of Directors approved game-changing policy regarding name, image and likeness. A number of states, including Michigan, had approved legislation to allow college athletes to receive financial endorsements without jeopardizing their eligibility.
Michigan’s state legislation was set to begin at the end of 2022, but some states, like Florida and Texas, were ready to launch NIL legislation Thursday, hence the NCAA’s decision to level the playing field and open the market to allow athletes to profit from third-party business opportunities on July 1.