The NCAA's Division I board of directors ratified a one-time transfer rule that will allow student-athletes from all sports to leave one school for another without sitting out a year, the board announced Wednesday in a release that The Athletic's Nicole Auerbach obtained.

The NCAA's Division I council already approved the legislation earlier this month, and it'll go into effect for the 2021-22 season.

All players who transfer and wish to be immediately eligible for the upcoming season will get until July 1 to inform their current school they're departing, according to Auerbach.

Any student-athlete who has already transferred must apply for a waiver if they hope to be eligible right away for competition.