The NCAA Division I Council has approved the immediate elimination of the national letter of intent program, the NCAA announced Wednesday, marking a historic shift to the recruiting landscape. Established in 1964, the NLI program has existed as the formal, binding agreement between prospective athletes and college programs for the past 60 years. The NLI will be replaced by a new financial aid agreement that will provide many of the same core functions as the NLI and will likely be tied to a contract related to an impending revenue-sharing model across college athletics. Under the new rules, transfer athletes will be allowed to sign with a new school after they've formally entered the portal. Per the NCAA, once a prospect has signed a written offer of athletic aid, other schools will be "prohibited from recruiting communications."