Texas and Oklahoma have made serious inquiries with the Southeastern Conference about leaving the Big 12, and the SEC is interested in adding the two schools, per multiple reports.

Why it matters: Such a move would reshape college football — and college sports as a whole — adding two of the nation's biggest athletic powerhouses to a conference that's already full of them.

The first day of the NIL era got off to rip-roaring start. Deals were made, money was exchanged, and total chaos ensued as a century-old American institution crumbled and began anew.

What's happening: A lot. Here's a sampling of the news from Thursday.

College athletics have been part of the fabric of American society for well over a century. From this day forward, they will never be the same.

The news: The NCAA on Wednesday officially suspended its rules prohibiting athletes from profiting off their names, images and likenesses (NIL).

Governance bodies in all three NCAA divisions on Wednesday approved an interim policy allowing college athletes to profit from their name, image and likeness (NIL).

Why it matters: The decision marks a seismic revamp of the NCAA's amateurism bylaws and allows athletes to begin profiting from their personal brands starting Thursday. It also comes just one day before NIL laws in at least eight states take effect.

The NCAA Division I council recommended Monday that the organization waive a current rule that prohibits college athletes from profiting from their name, image and likeness.

Why it matters: The recommendation still has to be approved by the NCAA's board of governors, which is set to meet on Wednesday. New laws allowing student athletes to profit from their personal brands are set to take effect in at least eight states on Thursday.

The Supreme Court unanimously ruled against the NCAA on Monday, issuing another significant blow to the embattled organization.

Why it matters: The ruling in NCAA vs. Alston chips away at core aspects of amateurism and opens the door for future legal challenges that could upend the NCAA's current business model built on unpaid labor.

The name, image and likeness conversation has spent years focusing on a hypothetical future, but with at least five states' NIL legislation set to go live on July 1, that future is finally here.

Why it matters: When you spend so much time focusing on the "when," it's easy to forget the importance of the "how" — money won't magically find its way into athletes' pockets three weeks from now.

Only about 2% of college athletes who recovered from COVID-19 were later diagnosed with myocarditis, or inflammation of the heart, according to a new study published Thursday in JAMA Cardiology.

Why it matters: The study, with some of the most comprehensive data yet on the cardiac condition connected to COVID-19, reveals its prevalence is less than previously recorded.

Tennessee became the 15th state to pass a bill allowing college athletes to profit off their name, image and likeness, and it's the sixth set to take effect on July 1, 2021.

Yes, but: If NCAA president Mark Emmert gets his way, a broader, nationwide measure will be enacted before that date. That seems unlikely, but he plans to meet with Congress this week.

NCAA president Mark Emmert told the New York Times this week that he would recommend that the college sports' governing body approve new rules that would allow student athletes to profit from their names, images and likenesses "before, or as close to July 1."

Driving the news: New laws that let student athletes in some way profit off their names, images or likenesses are set to take effect in Florida, Alabama, Georgia, Mississippi and New Mexico on July 1. Other states have passed similar laws that are scheduled to take effect next year.