Sports

College athletes are one step closer to getting paid

Key Points
  • The NFL Players Association announces it will collaborate with the National College Players Association to explore how college athletes could receive compensation for the use of their name, image and likeness.
  • California is the first state to pass a law that would allow college athletes to get paid for endorsement deals and get sports agents.
  • The NCAA currently bars students from receiving any compensation related to college sports.
The Baylor University Bears celebrate their win with their fans against the Oklahoma State Cowboys on October 19, 2019 at Boone Pickens Stadium in Stillwater, Oklahoma. Baylor's record was 7-0 after the 45-27 road win. (Photo by Brian Bahr/Getty Images)
Brian Bahr | Getty Images

The NFL Players Association announced Monday that it will collaborate with the National College Players Association to explore how college athletes could receive compensation for the use of their name, image and likeness.

Currently, college athletes do not receive any share of revenue stemming from the sale of licensing and broadcast rights by schools, athletic conferences and the National Collegiate Athletic Association.

"These organizations take all revenues and profit derived off the athletes' work without even acknowledging that athletes deserve a fair share," the two organizations said in a press release.

Under the new collaboration, the NFL players and college group will ensure licensing representation is available to college athletes in states that allow them to sign endorsement deals.

In September, California became the first state to pass a law that would allow college athletes to get paid for endorsement deals and hire sports agents. The "Fair Pay to Play Act" takes effect in 2023, and was backed by the collegiate players group.

The new collaboration comes as Florida and New York became the latest states to push legislation similar to California's NCAA "pay to play" law. States with similar pending legislation include Minnesota, Nebraska, Pennsylvania and South Carolina.

The NFL and collegiate players also announced plans to design a fund for injured athletes to pay for current and former athletes' out-of-pocket medical expenses. The fund would also help players suffering with cognitive disabilities associated with contact sports.

Though the NCAA currently bars students from earning any compensation related to college sports, the organization is reportedly poised to revise its rules for amateur athletes. The NCAA's board of governors will receive a briefing Tuesday on whether paying college athletes is feasible, the Associated Press reported.

In September, the NCAA's board of governors sent a letter to California Gov. Gavin Newsom opposing the state's pay-to-play bill, arguing it would "upend [a] level playing field for all student-athletes."

— CNBC's Jabari Young contributed to this report.