Joe Theisman isn’t against being able to monetize their name and likeness, but called it a serious slope that will have slippery implications until the NCAA found out a good system for it.
The former Washington quarterback appeared on FOX Business Wednesday morning to discuss the debate about NCAA athletes being allowed to sign endorsement deals, a strong possibility in several states next month.
It's simply because in the East, where do you have to pay? I think this thing has so many different entities, he told Varney Co. host Stuart Varney.
I had a suggestion concerning compensating the athletes while they're in school. Establish a trust. If you're going to sell a jersey of someone - which is what they want, they want to be able to get endorsements because the university is selling their jerseys - set up a trust for them so when the eligibility ends that trust, that money is theirs.
On July 1, laws in five states will go into effect that will usurp current NCAA regulations for names, recognizable images and likeness compensation for athletes. As of now, the NCAA is lagging behind in its pledge to modernize its rules on the subject but schools are not waiting from coast to coast.
A company that has partnered with dozens of colleges across the globe on NIL programming announced a deal with Twitter last week that will allow athletes to monetize video posts on the social media platform.
If you're going to start bidding and buying young kids - I just think it is a mess if they try and do this, to be honest with you.
The NCAA is also hoping to have new rules in place by the end of June to govern all Division I athletes and NIL compensation from third parties.
The Associated Press contributed to this report.