In past weeks states such as South Carolina, California, and New York are passing legislation aimed at allowing student athletes to make money off of their likeness. The big portion of these bills is the media function. If you are a student athlete current former disregard this next part. When you sign your scholarship tender (which is on a one year basis) there is a clause that states that the NCAA and or institution can use your image for marketing purposes. The states are challenging this, stating that if you allow for student athletes to make money off of their likeness. It would include marketing material put out by the NCAA and institutions.
What does that mean for sports tech companies. It could be monumental. Student athletes especially in revenue sports or revenue athletes (Olympians) there is huge opportunity. From the data perspective, companies like Opendorse that focus on maximizing brand and marketing opportunities. It truly is limitless, which is why the NCAA is going to fight teeth and nail to restrict the states as much as possible. We will follow every state and updates. Continue to follow along with us.