SB 2880 Summary

• Revises the definition of "athlete agent" to include individuals who provide advisory or business management services to student-athletes for compensation related to their athletic participation, with certain professional exemptions.

• Expands registration application requirements to include detailed background information, criminal history, professional licenses, business affiliations, and social media accounts; allows reciprocal registration for agents registered in substantially similar states.

• Clarifies that student-athletes and parents/guardians may cancel agency contracts within 14 days without penalty, and requires agents to notify athletic directors within 72 hours of contract execution.

• Increases maximum civil penalties from $25,000 to $50,000 for violations and allows athlete agents certified by national associations to pay certain pre-contract expenses for student-athletes under specified conditions.

• Permits student-athletes and educational institutions to bring civil actions for damages against agents for violations, with prevailing parties entitled to treble damages, punitive damages, and attorney's fees; establishes educational institutions' autonomy to adopt their own athlete agent policies.