College athletes officially have the green light from the NCAA to profit off of their name, image and likeness.

The NCAA announced Wednesday that, “Governance bodies in all three divisions today adopted a uniform interim policy suspending NCAA name, image and likeness rules for all incoming and current student-athletes in all sports.”

“This is an important day for college athletes since they all are now able to take advantage of name, image and likeness opportunities,” NCAA President Mark Emmert said. “With the variety of state laws adopted across the country, we will continue to work with Congress to develop a solution that will provide clarity on a national level. The current environment — both legal and legislative — prevents us from providing a more permanent solution and the level of detail student-athletes deserve.”

The NCAA announcement offers some guidelines of what is permitted under the new interim policy:

  • Individuals can engage in NIL activities that are consistent with the law of the state where the school is located. Colleges and universities are responsible for determining whether those activities are consistent with state law.

  • College athletes who attend a school in a state without an NIL law can engage in this type of activity without violating NCAA rules related to name, image and likeness.

  • Individuals can use a professional services provider for NIL activities.

  • Student-athletes should report NIL activities consistent with state law or school and conference requirements to their school.

Wednesday’s news comes two days after the Division I Council voted to recommend the NCAA’s interim NIL policy to the Division I Board of Directors.