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College athletes allowed to now cash in on name, image and likeness

Published: Jul. 1, 2021 at 11:32 PM EDT|Updated: Jul. 2, 2021 at 12:31 AM EDT
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LOUISVILLE, Ky. (WAVE) - As of Thursday, July 1, college athletes can use their name, image, and likeness to earn some cash under new NCAA rules. Kentucky Governor Andy Beshear signed an executive order a week ago, allowing athletes to profit from their works while in college.

“This is a major day of history for college athletics,” Joey Wagner, a former NCAA Division I athlete, said. “It’s huge. It gives these athletes an opportunity to make their own personal revenue stream. It gives them an opportunity to make a revenue stream for their families, and their friends.”

Wagner said he wants to help these student-athletes with navigating the new rule. On Thursday, he launched a new company called Rocketeer Sports Marketing. It’s a sports marketing agency, focusing on the name, image, and likeness (or NIL) of student-athletes.

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“[These student athletes] are a business now, right? So they have to keep track of all of these transactions and pay the taxes and do it the right way,” Wagner said. “So that’s going to be something we’re really going to help them guide along the way.”

Wagner told WAVE 3 News Thursday he is already signing with local athletes, including UofL basketball players Samuel Williamson and Malik Williams.

“We had them go down to Royals restaurant in downtown in Nulu and there’s going to be many more for those guys. I know they were excited to get out, doing something on the first day,” Wagner said. “The college athletes now they are like the pro athletes, especially in this town. and they are going to have a huge opportunity to work local brands and regional brands and national brands.”

Several other local college athletes didn’t waste any time with the new NCAA rules either. UK Basketball guard Dontaie Allen tweeted at 12:34 a.m. Thursday an image of his own custom apparel.

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He’s teaming up with The Players Trunk, to sell custom shirts and hoodies with his name and image on them.

UofL quarterback Malik Cunningham also announced on Twitter he’s working with Opendorse.

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Cunningham is also listed on Dreamfield for a $300 an hour appearance fee for autograph sessions, photo shoots, or film sessions for commercial purposes or coaching and mentorship events.

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