According to reports, the NCAA issued the memo to agents on Monday, revealing a new set of criteria that all agents must abide by if they want to represent student-athletes entering the NBA Draft.

The requirements are as follows:

– A bachelor’s degree

– NBPA certification for at least three consecutive years

– An in-person exam taken at the NCAA office in Indianapolis in early November

LeBron James has dubbed the NCAA’s new rule the “Rich Paul Rule,” because of the bachelor’s degree requirement. 

Paul, the founder of Klutch Sports Group, started working with LeBron just a few years after high school and built his empire without ever graduating from college. Under the new format, he wouldn’t be able to represent underclassmen contemplating a jump to the NBA.

Flip the Page to Hear What LeBron and More Had to Say: