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New bill would allow Illinois college athletes to sign endorsement deals
Lawmakers on Tuesday approved a bill that would allow college athletes to profit off their name, image and likeness, sign endorsement deals, and sign with an agent.
CHICAGO - It would be a new source of revenue for college athletes in Illinois.
Lawmakers on Tuesday approved a bill that would allow college athletes to profit off their name, image and likeness, sign endorsement deals, and sign with an agent. A similar piece of legislation was proposed last year, but did not have the backing of state universities.
What helped turned the tide this year was the support and input of University of Illinois Athletic Director Josh Whitman.
"For years, colleges have made an inordinate amount of money selling their product, while individual athletes – some of whom are star athletes – didn't share in any of that," said Barry Meister of Meister Sports Management, who applauds the Illinois Legislature's passing of Senate Bill 2338.
He says student-athletes should be able to monetize those things, as long as it is done in a responsible way.
"So long as this bill provides quality advice and as long as there are protections built-in on what products can be endorsed, what kind of fiduciary advice is available, I think it can be a good thing," Meister said.
"What it means is that college athletes will have the same rights that every other person in Illinois enjoys," said Alicia Jessop, Sports Marketing Professor at Pepperdine University. "Namely, that right is something called the right of publicity."
If signed into law, Illinois would become the latest in a growing number of states to pass similar legislation.
"I think other states will have to follow suit in terms of competitiveness," Meister said. "Does a star athlete want to play at Illinois because he can monetize his image, but not at Ohio State University if Ohio doesn't have those laws? I think a central approach would probably be a good thing."
The measure passed with bipartisan support in both the Illinois House and Senate. It is now headed to Governor JB Pritzker's desk and is expected to take effect by July 1st.