Trump signs executive order to regulate the business of college sports

Legendary sports agent Leigh Steinberg discusses the historic settlement that paved the way for revenue sharing.

President Donald Trump signed an executive order to set new restrictions on payments to college athletes Thursday. 

The order prohibits athletes from receiving pay-to-play payments from third-party sources. 

However, the order does not impose any restrictions on NIL payments to college athletes by third-party sources.

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President Donald Trump holds up a jersey presented to him as he welcomed members of the Baylor women's basketball team, the 2019 NCAA Division I national champions, to the Oval Office of the White House in Washington April 29, 2019. (AP Photo/Susan Walsh)

Colleges and universities are now allowed to pay their athletes directly after the House v. NCAA settlement last month. With universities bidding for the services of the nation's top football and men's basketball players, concerns rose about what resources would be left available for women's sports and non-revenue men's sports. 

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Trump's executive order demands that schools account for preserving resources for the non-revenue sports. 

"The Order provides that any revenue-sharing permitted between universities and collegiate athletes should be implemented in a manner that protects women’s and non-revenue sports," the order states. "The Order requires the preservation and, where possible, expansion of opportunities for scholarships and collegiate athletic competition in women’s and non-revenue sports." 

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President Donald Trump laughs as he wears a hat presented to