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AMATEURISM
A student-athlete loses amateur status and thus shall not be eligible for intercollegiate competition in a particular sport if, prior to the completion of your eligibility (which usually occurs after the last game or contest of your senior year including post-season tournament, bowl, or all-star games), you:
Use your athletic skills (directly or indirectly) or play in any form in that sport, or you are involved in any commercial endorsement for a product, service, or establishment.
Accept a promise of pay even if such pay is to be received following completion of intercollegiate athletics participation.
Compete on any professional athletics team and know (or had reason to know) that the team is a professional athletics team, even if you do not receive pay or remuneration for your expenses.
Negotiate, sign, or enter into an agreement or commitment of any kind, either verbal or written, to be represented by an agent for the purposes of marketing your athletic ability or reputation in a sport, regardless of it's legal enforceability or any consideration received. You will lose your eligibility even if you:
1. Do not date the agreement
2. Date the agreement as of a date after you have completed your eligibility in that sport
3. Agree that the agent will only represent you in future negotiations after you have completed your eligibility in that sport.
Accept (or allow a family member(s) or friends to accept) money, transportation, or any other benefits from anyone who wishes to represent you to market your athletic ability.
Receive any preferential treatment, benefits, or services, including loans you do not have to begin to pay back immediately, because of your athletic reputation or money you may make as a pro athlete.
Receive, directly or indirectly, a salary reimbursement of expenses or any other form of financial assistance from a professional sports organization based upon your athletic skill or participation, except as permitted by NCAA rules and regulations.
Enter into a professional draft (exceptions: Professional Basketball Draft)
A student-athlete in the sport of basketball may enter a professional league's draft one time during his or her collegiate career without jeopardizing eligibility in that sport, provided the student-athlete is not drafted by any team in that league and the student-athlete declares his or her intention to resume intercollegiate participation within 30 days after the draft. The student-athlete's declaration of intent shall be in writing to the institution's director of athletics.
http://buffs.colorado.edu/academics/docs/ncaa.htm
