Statement of the Hon. Nydia M. Velazquez on Athletes and Innovators: Analyzing NIL’s Impact on Entrepreneurial Collegiate Athletes
Summary
A statement dated September 20, 2023 by the Hon. Nydia M. Velazquez on the committee hearing Athletes and Innovators: Analyzing NIL's Impact on Entrepreneurial Collegiate Athletes. She says the NCAA's 2021 decision to allow college athletes to make a living off their names, images and likenesses was welcome news. She raises concerns about gender inequity, predatory agent practices, inconsistent regulations and booster collectives steering the largest deals to top athletes. She says she looks forward to the witnesses' testimony.
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“Statement of the Hon. Nydia M. Velazquez on Athletes and Innovators: Analyzing NIL’s Impact on Entrepreneurial Collegiate Athletes.”
Original at democrats-smallbusiness.house.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/committee-09db6f8d4638db4d/
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Statement of the Hon. Nydia M. Velazquez on Athletes and Innovators: Analyzing NIL’s Impact on Entrepreneurial Collegiate Athletes September 20, 2023 Thank you, Mr. Chairman. The success of America’s college students has been top of mind ever since I began teaching courses at New York’s Hunter College many years ago. The NCAA’s 2021 decision to allow college athletes to make a living off their own names, images, and likenesses, or NIL, was welcome news. College athletes from underserved communities – even with modest deals – could finally begin building savings and generational wealth. Many players suddenly had a way to cover rent and living costs. But in recent years, the launch and growth of the multimillion-dollar collegiate athletic market has raised questions about the way that our society treats our college athletes. Stakeholders from across the political spectrum have voiced concerns about gender inequity, predatory agent practices, and the patchwork of confusing regulations. I am concerned with a growing trend of booster collectives steering the largest deals to the top athletes in football and men’s basketball. Booster collectives, who often closely coordinate with individual schools, can undermine the gender equity progress made by Title 9 and allow the collectives to shortchange our women athletes. The hastily drafted and inconsistent restrictions have suddenly thrown college athletes into their first business experience. But to protect them, it is critical that these students be well-equipped with resources, know-how, and a stable environment to succeed and build strong brands. Otherwise, we run the risk of distracting our students from their educations and endangering their financial well-being. Today is our chance to learn more about the opportunities and risks Name, Image, Likeness has created for our college athletes, so we can understand how to best support them. I look forward to hearing the testimony of the witnesses, and with that, Mr. Chairman, I yield back. Thank you.
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