LSU athletes one step closer to making money with endorsements
LSU’s board of directors on Friday established rules for student-athletes seeking to take advantage of the new legislation which, if it becomes law, allows them to enjoy their name, image and likeness. Stephanie Rempe, deputy executive director of athletics at LSU and chief operating officer of the department, told the board at a meeting at the university’s Alexandria campus that the bill that would allow for student-athletes to make money is “the most transformative part of any change in athletics in the history of varsity athletics – or at least since Title IX.
The adoption of the rules by the LSU board on Friday means that if Gov. John Bel Edwards signs the legislation, the rules will go into effect immediately.
Rules established by the council prohibit student-athletes from using any university trademarks, logos, uniforms or colors without the express written permission of the university. Student athletes will also be prohibited from supporting tobacco, alcohol, illegal substances, illegal acts, prohibited sports substances or any form of sports betting.
According to the board of directors “Student-athlete name, image and likeness policy â school athletes cannot be paid directly for their athletic performance or in exchange for agreeing to attend college.
Policy adopted by the Board of Directors also requires LSU to offer educational workshops on âlife skillsâ to teach student-athletes how to manage their money.
While obtaining an agent usually means that a student-athlete loses their amateur status, the new board policy will allow agents to be hired “for the sole purpose of representing the intercollegiate athlete in the process. questions relating to the use of the intercollegiate athlete (name, image and likeness).
During the legislative session that ended on June 10, the Louisiana Legislature overwhelmingly approved a bill by Senator Patrick Connick that allows university athletes in the state to receive “compensation. for the use of the athlete’s name, image or likeness âwithout endangering their amateur. status. The NCAA prohibits student-athletes from such arrangements, but Louisiana joins at least 11 other states that have such laws that are about to come into effect this summer.
The NCAA has said it is “committed to modernizing” its name, image and likeness rules. But the sport’s governing body has delayed any official changes in large part because the United States Supreme Court is preparing to rule before the end of this month in a separate but related case involving the NCAA’s limits on eligibility and compensation.
Louisiana Representative John Stefanski (R-Crowley), who brought the state’s name, image and likeness to the bill on the Louisiana House floor in Connick’s name, then said that “It is important that we treat everyone in the same situation” and that the bill is important “competitively” to Louisiana.
Referring to states that have passed or are discussing passing name, image and likeness bills, Stefanski said, âSeveral other states are moving towards this, and if Louisiana is left behind, we will be at a disadvantage compared to the competition. â
Connick’s Bill tasked the boards of the state’s university systems to set rules for students earning money through the use of their name, image or likeness.
Senate Bill 60 prohibits student-athletes from receiving sponsorships that conflict with the âinstitutional valuesâ or âexisting institutional sponsorship agreements or contractsâ of a college or university. Rempe said the sports department is still in the process of determining “what are our recommendations for this.”
With the exception of the exceptions listed above, LSU athletes will be permitted to promote products for cash from any business or corporation, given that they are paid for at fair market value and keep the university informed of these commercial relations. Contracts cannot extend beyond their time as LSU athletes or interfere with student athlete grants or scholarships.