University of Minnesota Athletics
5/1/07 - Prize Money
10/24/2007 12:00:00 AM | Athletics
Compliance Weekly E-mail
May 1st, 2007
ACCEPTING PRIZE MONEY
NCAA Bylaw 12.1.1.4.1 allows prospective student-athletes, prior to initial collegiate enrollment, to accept prize money at open events up to the amount of actual and necessary expenses the prospect has incurred for that event. However, prize money may only be provided by the event sponsor.
Acceptance of prize money by a current student-athlete is a violation of NCAA amateurism rules. Current student-athletes may not use their athletic skill (directly or indirectly) for pay in any form in their sport. This means student-athletes may not accept prize money based on place or finish in a competition, even if it is within actual and necessary expenses.
In addition, current student-athletes may not forward prize money won in a competition to another individual or entity and may not allow their non-student-athlete teammates to accept their share of the prize money.
If you have any questions, please contact the Compliance Office.
