The NCAA as it once existed is just a memory.

Wednesday, the the governing body announced every college student-athlete in the country can start profiting from endorsements and other agreements related to their names, pictures and likenesses when the new month begins on Thursday.

As Dan Murphy of ESPN Note, the news comes just as more than a dozen states were set to make it illegal for the NCAA to prevent athletes from putting pen to paper on such financial transactions.

“This is an important day for college athletes as they are now all able to take advantage of the opportunities of name, image and likeness,” NCAA President Mark Emmert said in the statement. “With the variety of state laws passed across the country, we will continue to work with Congress to develop a solution that will bring clarity at the national level. The current environment – both legal and legislative – prevents us from delivering a more permanent solution and the level of detail that student-athletes deserve. ”

Murphy added that athletes could still be prohibited from endorsing alcohol, tobacco or gambling services in accordance with policies and laws enacted by specific states and universities. However, athletes can sign with agents, attorneys, or other representatives without incurring any NCAA sanction.

“Today, NCAA members voted to allow varsity athletes the benefit of name, image and likeness opportunities no matter where their school is located,” said Denise Trauth, President of Texas State University and Division I Board Chair. “With this interim solution in place, we will continue to work with Congress to pass federal legislation to support student-athletes.”

Schools are still prohibited from paying athletes directly and using the payments as a recruiting tool. It is believed that several top athletes will announce their first offers as early as Thursday morning.