Bloomberg Tax
March 15, 2021, 1:50 AM

New Mexico Lawmakers Approve College Athlete Sponsorship Deals

Brenna Goth
Brenna Goth
Staff Correspondent
Sam McQuillan
Sam McQuillan

College athletes in New Mexico could earn money from endorsement deals under a bill the state Legislature passed Sunday.

The measure (SB 94), which heads to Gov. Michelle Lujan Grisham (D), would require colleges and universities to let student athletes receive food or housing from a third party, earn compensation for use of their name or likeness, and choose their footwear. The changes would let students receive both compensation and grants or stipends while prohibiting schools from using the third-party deals to recruit prospective players.

New Mexico follows several states that already enacted measures contrary to National Collegiate ...

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