Gov. Kathy Hochul signs NYS law allowing athletes to get paid
Gov. Kathy Hochul signed into law legislation allowing college athletes to earn money as if they were already professionals.
“For too long, student-athletes have not been able to reap the extraordinary benefits that their hard work has brought to their schools,” Hochul said in a press release.
The new law expressly allows students to benefit from their “name, image or likeness” without risking their scholarships, according to the law.
Student-athletes could also hire lawyers and agents to represent them under the new law, which goes into full effect on January 1, 2023.
“Receiving a stipend should not be the basis for denying athletes further compensation, especially when many of them come from traditionally marginalized communities where making ends meet is a daily dilemma,” said Sen. Kevin Parker (D flatbush). sponsored the bill in his chamber, said.
Supporters of the new law say student-athletes earn a portion of the billions raked in each year by American colleges and their athletic departments, especially given the hard work they put into their sport.
And by allowing them to make money while still pursuing a degree, college athletes are less likely to take risky moves, like dropping out when looking for a pro contract in leagues like the NFL and NBA.
“That is our hope [colleges and universities] will continue to look after the welfare of student athletes by establishing student savings plans as well as a fund for financially distressed student athletes, as our bill proposes,” said Rep. Michaelle Solages (D-Elmont) of the legislation she sponsored in the lower chamber.
State legislatures approved the bills last spring with large bipartisan majorities.
The NCAA could not be reached for immediate comment Monday night.
https://nypost.com/2022/11/21/gov-kathy-hochul-signs-nys-law-letting-student-athletes-get-paid/ Gov. Kathy Hochul signs NYS law allowing athletes to get paid