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Stanford's Gabe Reid and Jonathan McGill celebrate a sack. Photo: Thearon W. Henderson/Getty Images

The NCAA's Board of Governors voted Tuesday to allow college athletes to receive compensation for their names, images and likenesses.

Why it matters: In the end, California won. Gov. Gavin Newsom signed a bill into in September that allows the state's college athletes to accept endorsement deals by 2023, upending the decades-long precedent set by the NCAA to prevent collegiate athletes from being paid.

What they're saying: Michael V. Drake, the board's chair and president of the Ohio State University, said in a statement, "We must embrace change to provide the best possible experience for college athletes."

  • "This modernization for the future is a natural extension of the numerous steps NCAA members have taken in recent years to improve support for student-athletes, including full cost of attendance and guaranteed scholarships."

Go deeper: NCAA coaches react to California law allowing student-athletes to be paid

Go deeper

Dion Rabouin, author of Markets
Updated 3 hours ago - Economy & Business

Our make-believe economy is here to stay

Illustration: Eniola Odetunde/Axios

The Federal Reserve and global central banks are remaking the world's economy in an effort to save it, but have created something of a monster.

Why it matters: The Fed-driven economy relies on the creation of trillions of dollars — literally out of thin air — that are used to purchase bonds and push money into a pandemic-ravaged economy that has long been dependent on free cash and is only growing more addicted.

Mike Allen, author of AM
4 hours ago - Politics & Policy

Why Trump may still fire Barr

Photo: Jabin Botsford/The Washington Post via Getty Images

Attorney General Barr may be fired or resign, as President Trump seethes about Barr's statement this week that no widespread voter fraud has been found.

Behind the scenes: A source familiar with the president's thinking tells Axios that Trump remains frustrated with what he sees as the lack of a vigorous investigation into his election conspiracy theories.

Mike Allen, author of AM
4 hours ago - World

Scoop: Trump's spy chief plans dire China warning

Xi Jinping reviews troops during a military parade in Beijing last year. Photo: Thomas Peter/Reuters

Director of National Intelligence John Ratcliffe on Thursday will publicly warn that China's threat to the U.S. is a defining issue of our time, a senior administration official tells Axios.

Why it matters: It's exceedingly rare for the head of the U.S. intelligence community to make public accusations about a rival power.

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