Hochul signs legislation allowing college athletes in New York to receive compensation
Governor Kathy Hochul signed legislation on Monday that would allow college student-athletes in New York to receive compensation for endorsements and athletic participation.
For decades, student-athletes were not allowed to be paid for their performance or for the use of their name, image, or likeness in college athletics.
In 2021, the National Collegiate Athletic Association (NCAA) allowed students to sign Name, Image, and Likeness (NIL) contracts which enable student-athletes to be paid for their NCAA media coverage.
“Our collegiate student-athletes are heroes on the field and they deserve to be treated like heroes even after the final whistle," Hochul said in a statement. "For too long, collegiate student-athletes have not been able to benefit from the extraordinary benefits their hard work has provided to their schools. I'm proud to sign this legislation that will help New York's collegiate student-athletes earn the recognition they deserve”
This legislation will prevent colleges and the NCAA from withholding compensation from students as a result of their name, image, or likeness in media and games. It will also require colleges to assist athletes in degree completion, career development, financial and mental health, and more.
Also, it allows students to share in the economic benefits created by their athletic accomplishments, alongside their colleges and universities which may generate revenue through media, ticket sales, and merchandise.
In 2019 the NCAA received $19 billion from university athletic departments, with $2 billion coming from ticket sales alone.