College student-athletes will now be able to profit off their name, image and likeness without NCAA penalty.

According to Nicole Auerbach of The Athletic, the NCAA Division I Board of Directors has approved an interim policy regarding NIL. It will make it legal for student-athletes to promote their brand and monetize their name, image and likeness without repercussions.

Earlier this week, the Division I Council recommended to the Board of Directors that a change be made. The new interim policy will take effect on Thursday, July 1, 2021. It will be valid across all 50 states.

With some states already approving NIL legislation that was set to go into effect on July 1, the NCAA really had no choice but to take action. If it didn’t, there would be a competitive advantage among schools in different states.

This new policy is temporary until the NCAA updates its rulebook and confirms plans for a more permanent solution for NIL. But the amateurism model is essentially out the window.