American gymnast Olivia Dunne’s bank account is about to blow up.
After the National Collegiate Athletic Association amended its regulations in a historic move last month, NCAA athletes in Louisiana are now permitted to make money from endorsements and a variety of other ventures.
NCAA athletes are no longer prohibited from selling the rights to their names, images, and likenesses, but schools are still barred from paying players directly.
Student athletes will be able to make a profit by monetising social media accounts, starting their own businesses, and participating in advertising campaigns, among many other potential ventures.
WME Sports announced this week it had signed gymnast Dunne, one of the sport’s most influential athletes.
The 18-year-old from New Jersey was previously a member of the USA national gymnastics team and now competes in the NCAA for Louisiana State University.
“She‘s an incredible gymnast, a beautiful girl and a wonderful personality that comes across in her social media posts,” former LSU gymnastics coach D-D Breaux said.
“She’s just a fabulous young woman. I could see her signing endorsements with a clothing line or a cereal company or anything. There are lots of great gymnasts, but it’s her personality on social media that sets her apart.”
Dunne began gymnastics at three years old and has competed at the U.S. Classic, WOGA Classic, American Classic, National Championships, City of Jesolo Trophy, Nastia Liukin Cup, and NCAA.
She joined the social media platform TikTok in 2020 and has quickly become one of the most followed NCAA athletes in the country.
The collegiate athlete has 3.9 million followers on TikTok where she posts gymnastic, dance, lip-synch and challenge videos. On Instagram, she has a further 1.1 million followers on her profile with upwards of 300,000 likes on her posts.
Newsweek predicted that she could quickly make a million dollars from endorsement deals in the very near future.
Once the new regulations were announced, Dunne posted to Twitter: “NIL rules change tomorrow … let’s get to work.”
Entertainment lawyer Roy Maughan Jr. believes Dunne could potentially earn millions from the signing.
“I know of a college football player from a small school who just signed for $2.4 million. It could happen,” he told The Daily Advertiser.