It’s an NCAA game changer, as the organization's Board of Governors reversed course Tuesday with a new list of rules for student-athletes.

"And this is a major change. We've been really holding the line, but certainly times change,” said Gary Olson, Daemen College president.

Olson and NCAA Board of Governors members announced the group unanimously voted to allow student-athletes to benefit from the use of their name, image, and/or likeness. 

"Well, I think it's exciting. We were able to find a way to change with the times, but not compromise our values," said Olson.

Earlier this month, California's governor signed into law a measure allowing student-athletes to be paid for endorsements.

Olson says he hopes other states drafting similar legislation will reconsider following the NCAA decision.

"Stop for a moment and see that this is a very good resolution," said Olson.

"This is probably the single-most fundamental change in eligibility requirements for student-athletes that I can ever recall," said Nellie Drew, University at Buffalo Center for the Advancement of Sport director.

Drew commends the NCAA decision, but says she sees a lot of short-term uncertainty when it comes to recruiting efforts.

"It's going to be very difficult for student-athletes to make an intelligent choice until the NCAA flushes out some of these rules," said Drew.

These rules will now be drafted at the hands of each of the NCAA's three divisions in the coming months.

Olson, who chairs Division II, says he expects those recommended guidelines to be presented to the full Board of Governors when the group meets again in Anaheim, California in January.