The bill could open the door for federal standards for NIL legislation, superseding the current state laws that provide guidance on player compensation. SEC commissioner Greg Sankey said Wednesday during an appearance on "SEC This Morning" that he had no knowledge of a pending executive order.

The “Name, Image, and Likeness” (NIL) revolution has reshaped collegiate athletics. Players have more agency than even to earn their market value, make some of the money they generate for sports programs, and ensure their future even in the event of a catastrophic injury, or a failure to be selected in a pro league draft.