BYU Removes Itself
I do not believe that this is likely, but at the same time it wouldn’t be the biggest surprise in the world to me if the Church came out and said that players representing the school could not make money off their name or likeness.
Again, I do not believe that this will happen since the church seems fine having sponsors run ads during the games, but having a team sponsor and player sponsors aren’t EXACTLY the same thing. The church has set interesting rules in past like only having LDS Head Coaches, honor code (beards/hair), and being over honest with small NCAA violations (Yoeli Childs/Nick Emery).
I could see the church taking this stance if their viewpoint is that sports were “to promote and help the church image” and that by paying players it turns the focus from promoting the church to focusing on the players.
What this means for BYU: Well, everything.