What could go wrong?
"4.Guardrails for NIL Rights.NIL rules must protect fair sports competition among institutions and be designed to permit only legitimate transactions between third parties and college athletes for use of their NIL. Rules must be put in place to avoid pay for play,impermissible benefits, and improper recruiting or retention arrangements (e.g., endorsement with a shoe company linked to future enrollment at a specific institution). (note: at its sole discretion the NCAA and its President may exempt individual schools and conferences from this rule in order to maintain the stability of the named schools and conferences as well as the integrity of the NCAA)
Specifically:
Conferences,institutions, and their employees and independent contractors:
1. must be barred from providing or arranging for compensation to college athletes and prospective college athletes (note: this rule does not apply to Kansas, Arizona, LSU, Auburn and Duke) for the use of their NIL, including through group license deals.
2.NIL arrangements must be broadly consistent with fair market value, with the new governing entity providing oversight and an approval process. (note: schools listed above are exempt from this rule until 2040)