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Monumental changes are on the horizon for college athletics.

Although several logistical questions remain, the NCAA Board of Directors announced Wednesday morning that it supports student-athletes’ ability to receive compensation for their name, image and likeness (NIL).

The three divisions of the NCAA will officially vote on it at their annual convention in January, but that is expected to be a formality and the proposal will go into effect for the 2021-22 academic year.

A press release emphasizes that student-athletes will still be prohibited from being paid directly by schools, but they will be able to profit from “third-party endorsements both related to and separate from athletics” and other opportunities, “such as social media, business they have started and personal appearances.”

That is a stark contrast to the organization’s long-time stance on amateurism, a concept that has evolved since it formed more than 100 years ago.

Exactly what the NCAA’s NIL policy looks like a year from now remains to be seen. There will be “no cap” on student-athletes’ potential earning, according to Ohio State athletics director and working group co-chair Gene Smith said, but there will be so-called guardrails.

Those would be put in place to ensure there is no pay-for-play, no school or conference involvement, and no improper NIL use in recruiting. There will also be limits for what and how athletes can advertise, as well as a regulatory system that determines fair market value for particular sponsorships.

Just hours after the announcement from the Board of Directors, Arkansas’ creative team immediately began taking advantage of the opportunity by creating graphics for recruits that highlighted their potential ability to build a brand with the Razorbacks.