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The University of California Golden Bears would be affected by this law. Photo: Thearon W. Henderson/Getty Images

California Gov. Gavin Newsom signed a bill into law Monday that allows the state's college athletes to accept endorsement deals based on their player brand starting in 2023.

Why it matters: The law, which the NCAA has fervently argued against, rocks the decades-long precedent set by the organization to prevent collegiate athletes from being paid. If the law survives any challenges in court, it will change the business of college sports as we know it.

  • The New York Times reports that student athletes in California could have to leave the NCAA or openly defy its rules, leading to fines.

What they're saying: The NCAA urged to the governor not to sign it weeks ago, arguing the "Fair Pay" bill was "unconstitutional."

  • The NCAA said in a statement Monday that it "will consider next steps in California while our members move forward with ongoing efforts to make adjustments to NCAA name, image and likeness rules that are both realistic in modern society and tied to higher education."
  • NBA player LeBron James tweeted: "I’'m so incredibly proud to share this moment with all of you. @gavinnewsom came to The Shop to do something that will change the lives for countless athletes who deserve it! @uninterrupted hosted the formal signing for SB 206 allowing college athletes to responsibly get paid."
  • California Sen. Kamala Harris tweeted: "Thank you @GavinNewsom for his leadership on this issue and @Ed_OBannon for his long-fought advocacy. Again, California is leading the way. College athletes should own the rights to their name, image, and likeness."

Go deeper

Kaine, Collins' censure resolution seeks to bar Trump from holding office again

Sen. Tim Kaine (center) and Sen. Susan Collins (right). Photo: Andrew Harnik/Pool via Getty Images

Sens. Tim Kaine (D-Va.) and Susan Collins (R-Maine) are forging ahead with a draft proposal to censure former President Trump, and are considering introducing the resolution on the Senate floor next week.

Why it matters: Senators are looking for a way to condemn Trump on the record as it becomes increasingly unlikely Democrats will obtain the 17 Republican votes needed to gain a conviction, Axios Alayna Treene writes. "I think it’s important for the Senate's leadership to understand that there are alternatives," Kaine told CNN on Wednesday.

Stark reminder for America's corporate leaders

Rosalind "Roz" Brewer is about to become only the second Black woman to permanently lead a Fortune 500 company. She starts as Walgreens CEO on March 15.

Why it matters: It's a stark reminder of how far corporate America's top decision-makers have to go during an unprecedented push by politicians, employees and even a stock exchange to diversify their top ranks.

Ina Fried, author of Login
Updated 4 hours ago - Technology

Apple's quarterly sales top $100 billion for first time

Credit: Apple

Spurred by strong sales of the latest iPhones, Apple reported it took in a record $111 billion in revenue for the three months ended Dec. 31, as the company crushed expectations.

Why it matters: The move showed even a pandemic didn't dull demand for Apple's latest smartphones.