For years, colleges and universities have made big money on their marquee sports programs, especially football and basketball. Tens of thousands of fans pack the stands at USC and UCLA games. They also buy all that school-emblazoned merchandise. Then, there are the big-money TV rights.
Of course, the athletes that make all of that possible have been strictly prohibited from profiting in any way, either in dollars or cars or houses. That’s been a big point of contention for many years. But recently, California changed the rules when Governor Gavin Newsom signed the Fair Pay to Play Act, which allows athletes to make money off sponsorships and endorsements starting in 2023.