Monday was a monumental day in college athletics.

California Governor Gavin Newsom went on HBO and Uninterrupted's "The Shop" to formally sign California's "Fair Pay to Play" act alongside Lakers star LeBron James.

The law will allow college athletes in the state of California to profit off the use of their name, image and likeness, and will make it illegal for universities to revoke a student's scholarship for accepting money. The bill will not pay athletes to play, but it will allow them to sign agents and seek out business deals.

"[Signing the bill] is going to initiate dozens of other states to introduce similar legislation," Newsom said on "The Shop" prior to signing the bill. "And it’s going to change college sports for the better by having now the interests, finally, of the athletes, on par with the interests of the institutions. Now we’re rebalancing that power arrangement."

 

The bill will go into effect Jan. 1, 2023.

Warriors forward Draymond Green has been a vocal proponent of the bill, and he gave Newsom props after the signing.

Newsom's bill has faced blowback from both California schools and the NCAA, as it would make it impossible for those schools to follow the NCAA's amateurism rules. The NCAA has called the bill unconstitutional and will challenge it in court.

The NCAA responded with a statement.

The Pac-12 also issued a statement. 

[RELATED: Draymond supports California bill for NCAA athletes]

The signing of the bill is expected to cause an avalanche of states to pass similar legislation and fundamentally change how amateurism and college athletics are viewed.

Well done, Gov. Newsom.