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Athletes can make money under new NCAA "Name, Image and Likeness" interim policy

Starting on Thursday, college athletes will be allowed to make money on their name, image and likeness while still in school.

KNOXVILLE, Tenn. — Starting on Thursday, student-athletes will be able to start making money under a new policy from the National Collegiate Athletic Association, even though they may still be in school.

The NCAA Board of Governors adopted a policy that will allow student-athletes to profit from their name, image and likeness. That means they will be able to be paid for autographs, business promotions or to be represented in video games.

Student-athletes should report NIL activities to their school if they are consistent with rules outlined in their policies.

The NCAA Division 1 Council made the recommendation for an interim policy that would allow universities and institutions to set their own rules, if the state their in did not have an effective "Name, Image and Likeness Law" in effect by July 1.

In Tennessee, a law about how student-athletes can make money is not set to go into effect until 2022. Once that law goes into effect, it will supersede any rules that universities make.

The University of Tennessee announced that it already teamed up with Altiuys Sports Partners to help student-athletes and the university navigate changes to the policy. Through ASP, the university said it set up the framework for student-athletes to take part in the changes.

"We're educating everybody involved in the space from a NIL perspective," said Courtney Brunious, COO of Altius Sports Partners. "We're [UT's] partner. They're running the show. We just gave our advice about where we thought they could implement NIL into a curriculum that's already in existence."

When Tennessee's law goes into effect at the start of 2022, it would prohibit athletes from making money from businesses that promote gambling, alcohol or tobacco use.

The NCAA's interim policy will stay in place until federal laws are passed or new rules are adopted, according to officials.

“The new policy preserves the fact college sports are not pay-for-play,” said Sandra Jordan, chancellor at the University of South Carolina Aiken. “It also reinforces key principles of fairness and integrity across the NCAA and maintains rules prohibiting improper recruiting inducements. It’s important any new rules maintain these principles.”