There may be a silver lining in an unlikely cloud hanging over the darkened world of collegiate athletics, one that could provide much-needed guardrails on athlete compensation and the transfer portal.
Florida State athletics director Michael Alford dropped the news bomb during the recent Town Hall meeting when he said the House-NCAA settlement, which requires athletic departments to share upwards of $20.5 million of revenue with its athletes as a result of the NCAA vs House Settlement, “is really going to clean up where we've been in this wild west atmosphere we've had the last few years, and I think for the betterment of the student-athlete as well.”
Interesting. How can sharing $20.5 million of revenue with the athletes be a good thing for an athletic department?
House settlement will address the following:
- Establish real market value for athletes to put guardrail cap on NIL payments
- Third party entity (perhaps Deloitte) will run the market analysis and enforce it, not the NCAA
- Penalties could include loss of eligibility, reduction of the $20.5 mill university can share with athletes
- Contract between the athlete and the school for revenue share/NIL with a term of the contract, 1, 2, 3, 4 years with a buyout if the athlete chooses to transfer.
Will this new path face future legal challenges? Experts believe it will but in our estimation, and that of Michael Alford, its a step in the right direction out of the Wild West.
Could the House Settlement help clean up the Wild West?
Florida State athletics director Michael Alford dropped the news bomb during the recent Town Hall meeting when he said the House-NCAA settlement, which requires athletic departments to share upwards of $20.5 million of revenue with its athletes as a result of the NCAA vs House Settlement, “is really going to clean up where we've been in this wild west atmosphere we've had the last few years, and I think for the betterment of the student-athlete as well.”
Interesting. How can sharing $20.5 million of revenue with the athletes be a good thing for an athletic department?
House settlement will address the following:
- Establish real market value for athletes to put guardrail cap on NIL payments
- Third party entity (perhaps Deloitte) will run the market analysis and enforce it, not the NCAA
- Penalties could include loss of eligibility, reduction of the $20.5 mill university can share with athletes
- Contract between the athlete and the school for revenue share/NIL with a term of the contract, 1, 2, 3, 4 years with a buyout if the athlete chooses to transfer.
Will this new path face future legal challenges? Experts believe it will but in our estimation, and that of Michael Alford, its a step in the right direction out of the Wild West.
Could the House Settlement help clean up the Wild West?
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