Division 1 scholarship college athletes are unable to earn money while participating in amateur athletics. However, there are also rules in place that prevent players from turning professional when they so, please>.
This brings up the discussion of whether or not it is fair to athletes that the NCAA prevents college athletes from turning pro to earn money, as they also can’t profit while still in school. The place to start in this conversation is what athletes need to do in order to be eligible for professional leagues – it differs from sport to sport.
Baseball: Athletes can be drafted directly from high school. However, if they choose to go to college, they can’t go pro until after their junior year.
Football: High school football players can not turn professional. All athletes must be removed from high school for at least three years.
Basketball: Athletes cannot be drafted directly from high school. Players must be at least one year removed from high school and be 19 years or older. This means they can either play a year professional overseas or go to college for at least one year.
It wasn’t always this way though – at least in basketball. In the past, high school players weren’t required to go to college. For example, LeBron James was drafted directly from St. Vincent-St. Mary’s in 2003.
There is a chance these rules will be changed in the future for college athletes, but what can college athletes do to protect themselves in the meantime? One of the best options is to secure an insurance policy. Athletes should seek the assistance of a sports attorney to ensure the policy meets their needs. Before this college football season, Louisville quarterback Teddy Bridgewater took out a $10 million insurance policy to protect against injury and future lost earnings.
Why Every Business Should Conduct an Annual Insurance Coverage Review
Most New Jersey business owners purchase insurance policies, file them away, and assume they are protected if a claim arises. Without a regular insurance coverage review, many companies discover gaps only after a lawsuit, cyberattack, property loss, or other significant event occurs. An annual insurance coverage review can help businesses identify potential risks, ensure their […]
Demand Letters & Cease and Desist Letters: When to Send One (and When Not To)
Businesses and individuals often encounter situations where another party breaches a contract, fails to pay a debt, or continues harmful conduct. In many such disputes, a precisely drafted demand letter or cease-and-desist letter serves as a powerful legal tool. It can frequently resolve the dispute and avoid litigation. While demand or cease-and-desist letters can resolve […]
Key provisions in your contracts, including those relating to indemnification, insurance, and defense, are essential to contract risk management. While sometimes considered “boilerplate,” these provisions play a pivotal role when determining which party is responsible for certain costs and liabilities. They must always be negotiated and drafted carefully. Indemnification Clauses Businesses should never overlook the […]
Portability of estate and gift tax enables a surviving spouse to inherit any unused portion of their deceased spouse’s federal estate and gift tax exemption. So, if one spouse doesn’t utilize their full exemption, the surviving spouse can effectively double their exemption amount with regard to estate tax liability. For married couples, portability offers a […]
Pet Trusts in New Jersey and New York: A Practical Estate Planning Tool
For many of us, pets are more than companions—they are members of the family. Yet they are often overlooked or inadequately provided for when it comes to estate planning. A pet trust offers a legally enforceable way to ensure that your animal continues to receive proper care if you become incapacitated or pass away. As […]
For many New Jersey business owners, a closely held company represents decades of work, financial investment, and personal sacrifice. Trusts in business succession planning are one of the most effective tools for protecting that value, allowing founders to control how and when the business passes to the next generation while reducing the risk of disputes, […]
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!
