Part of me thinks this makes total sense, another part, as a fee paying student, thinks not a dime should be paid unless the athletic department is not taking a dime from the student body.
ABC 13 did a great job of summarizing it.
It’s the New World Order. No escaping it without dropping down to Div II.
Skimmed it and it did not seem to be much more than just overturning old laws prohibiting what the settlement could allow. Does not seem major.
It does seem that college sports is run more like a corporation than a sports league. When does this non-profit status get called out by the IRS?
Big diffence between non-profit and not profitable . . . . .
So, for sure, now college athletes will be on payroll and be employees?
https://x.com/espn/status/1931166525194445298
Schools are now free to begin paying their athletes directly, marking the dawn of a new era in college sports brought about by a multibillion-dollar legal settlement that was formally approved Friday.
Yup!
Non-profit doesn’t mean that you don’t actually make a profit. So called non-profits can indeed and often do make big bucks.
It simply means that none of the profits get distributed to shareholders/owners, and instead, all get plowed back into the organization’s mission.
Amen brother. There were some mighty lean years in my business that were definitely non profit. Don’t know how in the hell we survived but we did. That’s when your dreams turn into nightmares…
Like I said earlier, it is about how the conferences are trying to run cfb. Agree the difference is there. I have not heard of nonprofit organizations such as pet rescues trying to put other pet rescues out of business or push them down in some way. Usually it is about working together, but college football is run with corporate competitiveness and attempting to gain any edge for business advantages as would a for-profit business model.
With all the money brought in how much is actually going back into improving education for students (across the schools), which is the mission of the university systems?
Which non-profit system is as competitive against each other as cfp conferences like the B1G and SEC vs Big 12 and ACC? (edit, not directed specifically to law, his post just fit the information well)
Someone once said, the best profits are in non-profits.
It doesn’t mean that the top executives are not making enormous salaries.
So part of the money UH gets from Big 12 can be implemented into the nil budget if they choose to ??? Now i see why Big 12 Commissioner wanted to get a name sponsor for the conference for millions extra.
It doesn’t have to be implanted into NIL.
NIL was a legal fiction all along. They (we) don’t need NIL anymore. We can pay the players straight up and the players can make demands straight up.
It helps any school that wants to buy a championship out right.
But remember folks, giant payrolls have not helped the Yankees or similar rich organizations.
“If you tell a booster or business owner they can’t give a star player $2 million, there will be lawsuits,” said the personnel director. “There’s no enforcing this. Fair market value? F— Deloitte. This is going to get even crazier.”
“It’s going to separate, even more, the haves and the have-nots,” said an administrator.
It depends on if any party has the cojones to enforce the NIL standards as reviewed by Deloitte (or whoever is asked to opine) on the propriety of any true NIL for legitimate business purposes versus the current fraudulent NIL con recruiting pay-for-play that’s been ongoing for awhile now.
Of course, then there will be the next round of legal filings and court rulings…
So, player contracts forthcoming?
If they would just make the players employees most of this goes away
Players agents would probably only agree to a one year deal. If another school offers more at the end of the season, that player will most likely be playing somewhere else.
They need to change when the tranafer portal starts. Make it after the season is complete. Same with declairing for the NFL. Since they are being paid, they should be required to play in post season playoff/bowl games.
That only benefits one side.
What if more money was offered for a multi-year contract?
The portal would be available to them when the contract expires.
How does making them employees make the “NIL” go away. No company I have worked for as an employee prevented me from making additional money on the side.
What if the head coach or that players assistant coach leaves/fired and that player doesn’t fit in with the new coach? You may be paying them to sit on the bench when the money could go to a player who would fit the new coaches style better.