President Donald Trump's new executive order prohibits third-party pay-to-play payments to college athletes after the House v. NCAA settlement on paying college athletes.

The president directs federal agencies to clarify whether athletes are employees, protect Olympic and women’s sports, and address athlete compensation rules.

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.