(a) A professional athlete employed under a contract for hire or a collective bargaining agreement who is entitled to benefits for medical care and weekly benefits that are equal to or greater than the benefits provided under this subtitle may not receive benefits under this subtitle and the equivalent benefits under the contract or collective bargaining agreement. An athlete covered by such a contract or agreement who sustains an injury in the course and scope of the athlete's employment shall elect to receive either the benefits available under this subtitle or the benefits under the contract or agreement.
(b) The commissioner by rule shall establish the procedures and requirements for an election under this section.
(c) In this section, "professional athlete" means a person employed as a professional athlete by a franchise of:
(1) the National Football League;
(2) the National Basketball Association;
(3) the American League of Professional Baseball Clubs;
(4) the National League of Professional Baseball Clubs;
(5) the International Hockey League;
(6) the National Hockey League; or
(7) the Central Hockey League.