The NCAA announced Wednesday that its name, image, likeness working group recommended to its board of governors that student-athletes should be allowed to accept money in exchange for sponsorships and promotions.

The working group was created nearly one year ago and was comprised of student-athletes, conference officials, athletic directors and others. One of its 19 members was Colorado athletic director Rick George, who opened up about the process during a conference call with local media on Thursday.

“It was a privilege to serve on that committee,” George said. “I was excited to see the Board of Governors accept the report and that we’re able to keep moving forward with the recommendations and guidelines.”

The working group’s recommendations were groundbreaking. Student-athlete’s would be allowed to appear in commercials, make appearances at businesses, and profit off of their social media accounts.

If all goes as planned, the final rules will be written by the end of October, a vote will be held this winter and, assuming the vote passes, student-athletes could profit off of their likeness beginning in the 2021-22 academic year.

“There is still a lot of work to be done by the conferences to draft legislation and flesh out the details of those recommendations,” George said. “When we signed up for (the working group), it was going to be four months and it turned into a year. But I think to make that presentation was important. During our council meeting on Friday, the legislative solutions group, which I am part of as well, made a presentation to the Division I Council on some thoughts we have relative to disclosures and boosters and a variety of other things that I know you all heard yesterday in the NCAA press conference.”

There’s a lot to be excited about but very little is set in stone. The working group was the first step of many as George and his comrades continue to push for student-athletes to profit off of their likeness.

“There is a lot of work left to be done,” George said. “We’ve got the guiding principles, we have the framework and now we have to put a lot of work behind ensuring name, image and likeness is a positive for our student-athletes. I am excited that they have the ability to monetize their name, image and likeness. I am glad that I was part of it.”

The work won’t be done once the rules are written and a vote passes, either.

“Certainly our compliance office will have some additional work to do but we are trying to flesh out what that framework looks like,” George said. “I would certainly think that there will be more work to do from a compliance standpoint and an endorsement standpoint and also an education standpoint.”