For one it should allow student athletes to work without the lengthy paperwork, and if they want to do paid meet and greets at local establishments they can be paid for their time as the business is using their likeness via license from the student athlete agreeing to do it. It will also, I believe, allow student athletes to command higher rates for jobs where their skill is directly in line with the job. D1 baseball players coaches at a baseball summer camp for skilled youth athletes. They can be paid market rate and not base rate.
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Except they've already let the cat out of the bag. I'm not sure what you're referring to here. The NCAA won't sanction student athletes if they choose to work or make money off of their likeness, nor will they require paperwork to be filed before they can say yes/no to a job. Nor will the NCAA be able to make stretch arguments to imply a position is somehow influenced by the student athlete's likeness.