Student Athletes Are One Step Closer To Benefitting From The $14 Billion Industry They Drive

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The NCAA voted on whether or not college athletes should be compensated, but the decision's more complicated than a straight “yes” or “no”

, they've tasked each of the NCAA's three divisions to set up new rules, which should be in place by 2021.

"In the Association’s continuing efforts to support college athletes, the NCAA’s top governing board voted unanimously to permit students participating in athletics the opportunity to benefit from the use of their name, image and likeness in a manner consistent with the collegiate model,"."The Board of Governors’ action directs each of the NCAA’s three divisions to immediately consider updates to relevant bylaws and policies for the 21st century.

In a statement provided to CNBC about the vote, Board of Governors chairman and president of Ohio State University Michael V. Drake said:"We must embrace change to provide the best possible experience for college athletes. Additional flexibility in this area can and must continue to support college sports as a part of higher education.

While this vote could be seen as a step in the right direction, it doesn't amount to much without further action by the divisions themselves.that "the collegiate model" as it stands is that students... don't get paid.

 

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