Florida governor signs bill allowing college athletes to profit from name, image, likeness

Florida gov. Ron DeSantis signed a bill on Friday permitting college-level athletes to profit from their name, image and likeness, beginning July 1, 2021.

DeSantis endorsed the idea in October of last year. The bill officially passed through state legislation in mid-March, in the midst of the coronavirus pandemic, and DeSantis was fully expected to sign and approve the bill. Florida joins California and Colorado in introducing this type of law on a state-wide level.

Under the bill, athletes at the college level will be able to earn profit from their names, image, and likeness, though "such compensation must be commensurate with the market value of the authorized use of the athlete's name, image, or likeness." Additionally, compensation related to NIL "may not be provided in exchange for athletic performance or attendance at a particular institution."

Finally, the bill states that a booster group or any other school fundraising organization, including individual officers, directors or employees apart of these entities, are not permitted to compensate current or prospective athletes.

Similar to the California legislation, Florida's law will also allow athletes to have agents or lawyers to help them secure NIL deals.