Louisiana Senate Approves College Athlete Endorsement Deal
It's official, Louisiana college athletes can now start making money with their name, image, or likeness. Louisiana is one of the few states now allowing this to take place, but more seem to be adopting the same policy.
Before it was voted on, the original bill would have allowed any student at any college to do as they pleased with their endorsements. However, just before being voted on, an amendment was added on the floor that requires each school the athlete is at to allow endorsement deals. This means that if the college the student is attending decides not to allow their athletes to receive endorsements, the athlete cannot receive them.
Additionally, the deals allowed to the athletes cannot include alcohol, illegal substances, gambling, banned athletic substances, tobacco, or alcohol. The affiliate endorsing the athlete can also not have any other involvement with the school the athlete is attending.
Once the deal is in motion, all contracts involving the athletes must disclosed to the college the athlete is attending. If the school does not agree with the endorsement, it has the ability to block the deal.