Story at a glance
- Georgia Gov. Brian Kemp (R) signed a bill Thursday that will allow student athletes at colleges across the state to make money off their images.
- The new law will protect student athletes from punishment if they make a profit off of their image or brand.
- Under the new law, student athletes must submit to five hours of financial literacy and life skill workshops to maintain their eligibility to receive compensation.
Georgia Gov. Brian Kemp (R) signed a bill Thursday that will allow student athletes at colleges across the state to make money off their images.
The new law will protect student athletes from NCAA punishment if they make a profit off of their image or brand, WSBTV reported. The bill will take effect July 1.
“I think it’s just a sign of things to come and gives us another tool in the toolbox. And sure this issue will develop over the years,” Kemp said. “Thanks to [the bill], student athletes from across the country will have Georgia on their mind when they’re looking for a campus and a university that can give them a world-class education but also the chance to compete at the highest levels of college athletics.”
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But there is a caveat: The new law includes a provision giving universities wide discretion over funds, allowing a respective institution to take up to 75 percent of an athlete’s endorsement, according to Yahoo News. The money could then be placed on hold in an escrow account or pooled for athletes who can withdraw the year after they graduate or leave the school.
An ESPN analysis of student athletes potential earnings estimates star athletes could make nearly $1 million through their social media presence.
“The highest estimates based on data collected by Opendorse about current social media influencers show that a male athlete living in a big city with roughly 500,000 followers could generate more than $12,000 per sponsored post and have the opportunity to sign deals for up to 100 sponsored tweets or Instagram posts per year,” the analysis says.
Under the new law, student athletes must submit to five hours of financial literacy and life skill workshops to maintain their eligibility to receive compensation, Sports Illustrated reported.
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