Arkansas has unveiled its plan to allow student-athletes to begin profiting from their name, image and likeness (NIL) beginning Thursday.

The plan, which the UA named Flagship, was originally set to kick in Jan. 1 to coincide with the Arkansas Student-Athlete Publicity Rights Act becoming state law, but it was moved up six months because of recent NCAA legislation.

In a historic move that significantly alters the NCAA’s long-standing policy regarding amateurism, athletes across the country can now sign sponsorship deals that put money directly in their pockets.

According to Flagship guidelines, the UA cannot facilitate deals between businesses and athletes. Instead, businesses and other “third-party licensees” must create those connections directly with the athlete or through their representative.

Agents, for those scenarios, will be allowed to represent athletes for commercial purposes only and not for athletic or professional purposes. They must contact the UA within 48 hours of signing a contract with an athlete.

There are some restrictions, as Flagship calls for NIL compensation to be representative of “fair market value” and prohibits NIL activity during practice, competition or other team-sponsored activities.

NIL agreements can’t conflict with any other rule, regulation or policy of the UA and can’t be tied to performance - or lack of performance - in athletic competition.

Athletes will also be barred from using the UA’s intellectual property - such as logos, trademarks, team broadcasts, etc. - for NIL purposes and from doing deals that promote alcohol, tobacco, drugs, gambling, weapons, the adult industry and other related areas.

Another important restriction is that agreements can’t conflict with an agreement of the UA, meaning athletes won't be allowed to enter agreements with exclusive partners of the UA like Nike, Gatorade, Tyson, JB Hunt and local Ford dealerships.

There is a potential way around it, though, but it requires receiving permission from Terry Prentice, who was recently hired as Arkansas’ Senior Associate Athletics Director for Athlete Brand Development and Inclusive Excellence.

Businesses seeking to form a partnership with athletes must create an NOCAP Sports account, which can be used to contact athletes and submit contracts. Details of the contract - including term and compensation - must be provided to the UA.

After the contract is fulfilled - meaning the commercial is released, video/tweet is posted, etc. - a copy of the product must be shared with the UA within 72 hours for review.