State lawmaker proposes regulation to protect athletes' NIL finances
BATON ROUGE — Student-athletes are put under an immense amount of pressure, and in the new landscape of name, image and likeness deals, money can add to the stress.
The NCAA allowed for student-athletes to strike up professional contracts four years ago. Now, Louisiana lawmakers are considering how to regulate deals and protect student-athletes.
Percy 'Master P' Miller, President of Basketball Operations at the University of New Orleans, joined the NIL task force Monday with some suggestions of his own.
"If these families have a good foundation behind them, these kids are going to be successful," Miller said. "Kids are going into depression because now, as the star of the team, they're also the head of the household."
The entertainer, former basketball player, and coach said he wants to make mental health and financial literacy required for student athletes to learn. State lawmakers like State Rep. Tehmi Jahi Chassion say they're on board.
"We're just trying to help," Chaisson said. "We don't want to do anything to hurt because in this national landscape of NIL deals currently, you either have the money to pay the players or you don't."
At the federal level, the SCORE (Student Compensation and Opportunity Through Rights and Endorsements) Act, which was pulled before a vote, would have allowed the NCAA to create regulations from the national level on compensation, revenue sharing, and the transfer portal between schools.
Trending News
"In this national landscape, they can actually pay and take your kid, Chaisson said. "We don't want to lose any kids. We also don't want to get into a slippery slope, or we just get lost in the money."