President Trump signed an executive order aimed at protecting college athletes and athletic scholarships. The order seeks to expand opportunities for women's and non-revenue sports, prohibit third-party pay-for-play, and preserve the educational aspect of college sports.

The Trump administration Thursday released a long-anticipated executive order on college sports, an attempt to provide federal guidance to the wild world of big money that has transformed collegiate athletics in recent years.

The bill could open the door for federal standards for NIL legislation, superseding the current state laws that provide guidance on player compensation. SEC commissioner Greg Sankey said Wednesday during an appearance on "SEC This Morning" that he had no knowledge of a pending executive order.