Establish limits regarding intercollegiate athlete contracts

HB 687 introduces new rules for contracts involving college athletes' names, images, and likenesses in Ohio. The bill prohibits agreements that extend beyond an athlete's eligibility to play or require them to give up future rights to their image after they graduate. It also mandates that athlete agents place earnings from these deals into interest-bearing trust accounts and bans agents from sharing fees with outside parties without the athlete's written permission. Additionally, the law restricts agents from charging full fees if they fail to secure a job for the athlete, allowing them to keep only reasonable expenses and negotiated signing bonuses. These measures aim to protect student-athletes from unfair contract terms and financial exploitation by agents.