Names, images and portraits continue to destroy university sports, and the NCAA Power Four Conference commissioners are desperate.
Greg Sankey, Jim Phillips, Tony Pettitty and Brett Yomark were all on Capitol Hill and discussed ways with Congress that could help regulate Nir and the transfer portal.
Since opening on March 24th, more than 1,000 Division I College basketball players have entered the portal.
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The NCAA logo on the field before a match between South Dakota Jack Rabbit and North Dakota Bison at the Division I FCS Football Championship held at Toyota Stadium in Frisco, Texas, on January 8, 2023. (Photo via C. Morgan Engel/NCAA Getty Images)
One player even said they would enter the portal just 13 minutes after the team lost in the insanity of March.
It is becoming clear that the situation is out of control, and Big 12 commissioner Yormark made a marked acknowledgement to Bret Baier in his “special report” on Thursday.
“From where I sit today, it's very important that the federal government preemption has a standardized platform to oversee and govern the nil,” Yomark said. “Today, 34 states see it very differently and relatively unruly.”
“The amount of laws passed at the state level really makes it difficult for us to regulate and compete nationwide,” added Big Ten Commissioner Tony Pettitty. Every time someone doesn't like ruling or something comes from the NCAA, we fall into lawsuits. These rules are then aggregated and we return to the start.
“We hope that the combination of what we did in the settlement will give us the opportunity to actually put the system in a stable place with the help of Congress.
“We crossed a bridge that is willing to provide revenue…but we need to have some structure. There is no system with a completely unregulated movement.”
The NCAA logo at the NCAA headquarters in Indianapolis on February 28th, 2023. (Mitchel Layton/Getty Images)
The settlement mentioned by Petitti was a $2.8 billion deal, allowing the school to pay 22% of its revenue directly to university athletes with media rights, ticket sales and sponsorship. Payments from external sources will continue to be permitted.
Nola.com noted that the settlement would provide more than $2.5 billion to athletes who were unable to make NIL money before the NCAA changed rules in 2021. The report also said that most of the damage will be paid to former soccer and men's basketball players from power conference schools, as sports are the most profitable.
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The settlement also sought a clearing house to ensure it was not worth more than $600.
“We fully understand the responsibility. 55,000 student-athletes benefit from $4 billion a year on the scholarship,” ACC Commissioner Phillips said. “This is the heartbeat of Americana, the Olympic movement, and the Olympic team. We feel like we're moving forward with better destinations and stabilization, but we need the help of Congress and national legislation.”
Sankey, who runs the SEC, added: “In order to hold a national championship, to have a national championship, in order to hold a university World Series and make the college football playoffs, you have to have a national standard.”
NCAA logo on the basket pad before the second men's NCAA tournament game between the Marquette Golden Eagles and Colorado Buffalo at Gainbridge Field House on March 24, 2024 in Indianapolis. (Mitchel Layton/Getty Images)
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Sankey and Phillips also cited the low grade point averages by transferees, saying Phillips is “satisfied” when they get enough data to show that they are.
“Looking at the Transfer GPA before the transfer has historically been a decline. As credits are lost, the quality of that education can be compromised, because multiple transfers will hinder your ability to choose an academic program that may have the most value and meaning to someone else.”
Ryan Gaydos of Fox News contributed to this report.
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