By Mike Cugno

MIAMI (CBSMiami) – For the first time, NCAA student athletes will be allowed to profit off their name, image and likeness, kicking off a new era of collegiate sports.

The first to benefit from the new rules: Hurricanes quarterback D’Eriq King.

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He signed a deal with College Hunks Hauling Junk that will net him $20,000.

“When 12:01 hit it was fair game,” he told CBS4’s Mike Cugno.

He signed three other sponsorship deal, including one with local bar The Wharf, Murphy Auto Group, and his own company Dreamfield alongside FSU QB and friend McKenzie Milton.

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“It means a lot. I think it’s well overdue. I think about all the past players that couldn’t profit off their name, image, likeness,” King said. “And I’m just excited I’m in college while we could do it. I’m excited for my teammates and every other athlete in the country to finally be able to make a little bit of money.”

CBS Miami is told his first deal came together in less than two days before the clock struck midnight Thursday morning.

“The companies that I’m deciding to work with I made sure that the core values are the same and really think a lot of things through,” King said.

When asked about the possible, unknown pitfalls of the new landscape, King says the University of Miami spent the last eight weeks preparing their athletes for this moment.

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“I feel prepared for it. There’s definitely things you’ve got to worry about but I have a good team behind me so I’m ready for everything,” he said.