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1980 forever: Georgia NIL law allows 75% of all college likeness revenues to be pooled
Posted on 5/6/21 at 4:14 pm
Posted on 5/6/21 at 4:14 pm
Have fun recruiting against other states that don't have provisions to take 3/4 of all your marketing earnings. That's the ticket, Kirby!
quote:
Georgia's new law allows college athletes in the state to earn money off of their name, image, and likeness, but schools can take up to 75% of their money.
Georgia Governor Brian Kemp signed House Bill 617 on Thursday, which will allow college athletes in the state to earn money off of their name, image, and likeness starting on July 1.
“I believe it sets Georgia on the path to accomplish something that quite honestly should have been done a long time ago,” Kemp said during a bill-signing ceremony at UGA Thursday.
“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.”
However, the new legislation contains a twist. Schools can require athletes to pool up to 74.99% of their money earned in an escrow account that would then be shared with other athletes. However, it would not be able to be withdrawn until a year after they graduate/leave school.
It is up to the schools whether or not they instate this requirement.
Additionally, the bill requires college athletes in the state to take five hours of a financial literacy and life skills workshop to prepare for receiving the compensation.
Georgia's bill comes less than a week after Florida lawmakers reversed course for the second time on when their NIL bill would take effect, passing an amendment to flip the decision to delay when its name, image and likeness (NIL) legislation would be effective.
Once governor Ron DeSantis signs the bill, Florida college athletes can profit from their name, image and likeness starting on July 1, 2021—the original date in the bill passed last year.
Meanwhile, there are still several federal NIL proposals up for consideration, and the NCAA is still awaiting a ruling from the Supreme Court on the NCAA v. Alston case for its own NIL legislation.
This post was edited on 5/6/21 at 4:16 pm
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Posted on 5/6/21 at 4:29 pm to Jack Ruby
I’m guessing you stopped reading after the bolded part since it didn’t fit your agenda.
It clearly says it’s up to the schools whether to instate the requirement to pool the money.
Sorry to say you’ll still have to worry about us, but good try.
Reading comprehension’s a bitch huh?
It clearly says it’s up to the schools whether to instate the requirement to pool the money.
Sorry to say you’ll still have to worry about us, but good try.
Reading comprehension’s a bitch huh?
This post was edited on 5/6/21 at 4:30 pm
Posted on 5/6/21 at 4:34 pm to Jack Ruby
I cant wait for all the lawsuits from the Title IX vultures
This likeness shite is going to end up costing everyone so much money and get a bunch of lawyers paid just for the optics.
Its gonna be guuuud
This likeness shite is going to end up costing everyone so much money and get a bunch of lawyers paid just for the optics.
Its gonna be guuuud
This post was edited on 5/6/21 at 4:35 pm
Posted on 5/6/21 at 4:37 pm to Jack Ruby
It’s optional and UGA has already said they won’t do it.
Posted on 5/6/21 at 4:47 pm to Jack Ruby
When it’s all done every State will have the same law written the same way. Nobody is going to put their state at a disadvantage. Plus, sharing ensures the QB and star RB doesn’t get all the money. I would rather have great Olinemen with an average back than the other way around.
Posted on 5/6/21 at 5:21 pm to Shawn Spencer
You think left-wing academic types will say no to the female athletes who will get nothing??? They're taking the 75% without a doubt. No college administrator has the moral courage to stand up to their own kind.
Posted on 5/6/21 at 5:35 pm to SoFla Tideroller
quote:
You think left-wing academic types will say no to the female athletes who will get nothing???
You're an idiot if you think the female athletes will get nothing.
There are so many female students monetizing their Instagram and Snapchat accounts right now the female athletes are chomping at the bit to get in on that action. Plus, lower level female athletes (D3) are already pulling in big bucks doing this.
Posted on 5/6/21 at 6:15 pm to Jack Ruby
Didn’t realize the state of Georgia was run by a bunch of socialistas. No wonder they went blue
Posted on 5/6/21 at 6:23 pm to Jack Ruby
What a big-time, sack-o-nuts decision to make!
I COMPLETELY agree!
Hell!...I'm a Georgia fan now!
I COMPLETELY agree!
Hell!...I'm a Georgia fan now!
Posted on 5/6/21 at 6:27 pm to Giant Leaf
quote:What else is new?
This likeness shite is going to end up costing everyone so much money and get a bunch of lawyers paid just for the optics.
Those bastards are running wide open now that the dims are punching the buttons.
Posted on 5/6/21 at 8:36 pm to Giant Leaf
quote:
I cant wait for all the lawsuits from the Title IX vultures
Title IX will not apply for those universities that keep their hands off the money.
If Mercedes wants to give every Alabama football player $20,000 every year in return for appearances at the plant, the University has nothing to do wth that.
Posted on 5/6/21 at 8:37 pm to Floyd Dawg
quote:
You're an idiot if you think the female athletes will get nothing.
Female athletes aren't going to get nothing.
But they sure as hell aren't going to get Trevor Lawrence-Devonta Smith-Justin Fields money.
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