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The NCAA announced Wednesday that the Board of Governors supported rule changes that will allow student-athletes to profit from their own likenesses beginning from the start of the 2021-22 academic year.
The NCAA noted that if the rule changes are officially passed, student-athletes will be able to get compensated for "third-party endorsements both related to and separate from athletics" and "social media, businesses they have started and personal appearances" as long as they exist within the NCAA's guidelines.
While student-athletes are set to benefit from their likenesses, the NCAA divulged that it will still be illegal for universities or colleges to pay student-athletes for their names, images or likenesses.