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Presidential candidate Andrew Yang criticized the NCAA's new requirements for agents overseeing players who test the NBA draft waters.

Yang, an entrepreneur and philanthropist known for his work in startup companies, tweeted on Wednesday: "Instead of putting arbitrary requirements on agents, the NCAA should pay Division I athletes who generate millions in revenue for their schools."

The NCAA issued a memo to agents earlier this week that outlined new certification requirements to represent NBA draft-bound players. Agents must have a bachelor's degree, NBPA certification for at least three consecutive years, professional liability insurance and completion of an in-person exam taken in early November at the NCAA office in Indianapolis.

Instead of putting arbitrary requirements on agents, the NCAA should pay Division I athletes who generate millions in revenue for their schools. Coaches and athletic directors make millions while the kids pretend to be amateurs and scrounge for meal money. https://t.co/2yuBMikpOa — Andrew Yang (@AndrewYang) August 7, 2019

The new criteria drew ire from the pro basketball community, with the bachelor's degree requirement seeming to single out Rich Paul, who represents LeBron James and Anthony Davis. Paul, James' agent since the early 2000s, never graduated from college. According to the new NCAA criteria, Paul wouldn't be able to represent underclassmen college players. James was also critical of the rule on Twitter.

"Coaches and athletic directors make millions while the kids pretend to be amateurs and scrounge for meal money," Yang added on Twitter.

Yang is the founder of Venture for America (VFA), a nonprofit that focuses on creating jobs in struggling American cities. He launched his campaign in 2017 as a long-shot, but has gained significant momentum in 2019 before appearing in both Democratic debates this summer.