CHICAGO – Under a new Illinois law sponsored by state Rep. Justin Slaughter, D-Chicago, college athletes are finally able to make endorsement deals with companies and profit from their talents.
“For many college athletes, the dual struggles of academic and athletic obligations are overwhelming,” said Slaughter. “With financial pressures added, many of our student athletes are facing challenges from multiple directions.”
Senate Bill 2338 recently passed both chambers of the General Assembly with overwhelming bipartisan support and was signed into law by Gov. J.B. Pritzker. This legislation allows college and university-level athletes to earn money from endorsement deals that rely on the student’s name, image or likeness. Although students will be able to strike deals with businesses and corporations, universities and colleges will be barred from offering endorsement deals to students.
“As our young people graduate college and begin to look for a job in the post-pandemic world, it’s absolutely necessary that we do what we can to make sure they are financially stable,” said Slaughter. “We cannot afford to go back to the days when colleges and universities make billions off the backs of student athletes while they struggle to make ends meet and keep up with their studies.”