It may dramatically change college athletics, may make them worse, and may make parity worse. That being said it needs to happen, stop taking advantage of kids completely. Stop making poor kids/parents take horrendous under the table contracts that tie them to a shoe company with terrible terms for years. What gets lost in a lot of the deals where kids get $50k is it isn't just to go to a school. It usually forces them into a promise to stay with that shoe company when they go pro and forces them to sign with a specific agent. All likely costing them way more than that measly $50k. It is no coincidence many players stick with the shoe company they wore in college.

Also this has nothing to do with getting a piece of the pie when it comes to the money universities make. You won't see a Jonathan Taylor jersey being sold because the NCAA has already said they want nothing to do with the players making money. So no, the players won't be getting part of jersey sales etc. This simply allows them to not be under communist control when it comes to their own person/image. It is kind of crazy the rules athletes are put under. Even at the lower divisions in the NCAA kids are ripped apart for every little thing.

Not sure how this will actually work in reality though. It is not very clear what is or isn't allowed.

They have more money than they know what to do with.