Colorado joins California in allowing college athletes to profit off name and likeness
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California passed a bill in September that will allow college athletes in the state to profit off their name, image and likeness (NIL) starting on Jan. 1, 2023.
Driving the news: Colorado Gov. Jared Polis signed a similar bill on Friday that will take effect on the same date.
Meanwhile, in Florida, the state's House of Representatives and Senate have both approved an NIL bill that would go into effect 18 months earlier (July 1, 2021).
- It now awaits the signature of governor Ron DeSantis, who announced in October that he supports such a proposal.
The backdrop: The NCAA is fearful that state-by-state action will lead to competitive unbalance and regulatory chaos and is hoping to work with Congress on passing national legislation that would supersede any state laws. But the coronavirus has stalled all progress on that front.
Go deeper: NCAA coaches react to California law allowing student-athletes to be paid
