College NIL bill includes $25 million ‘retention pool’ but is that enough to sway Big Ten, SEC?
Summary
A new Senate bill aims to regulate college sports and includes a $25 million fund to pay current college athletes to stay with their schools. The bill tries to address concerns from major college sports conferences like the Big Ten and SEC but still awaits detailed review and approval.Key Facts
- The Senate bill is called the Protect College Sports Act.
- It proposes a $25 million "retention pool" to pay athletes already on college teams to stay.
- This retention pool is in addition to the $21.3 million schools can currently spend on athletes this season.
- $5 million of the new money is specifically for women’s sports.
- The bill attempts to balance a House settlement that requires sharing 22% of certain sports revenue with athletes.
- Big Ten Commissioner Tony Petitti is reviewing the revised bill language before giving full support.
- The bill also aims to create a uniform national law for athlete payments and limit lawsuits about player eligibility.
- Senate leaders say it might be difficult for the bill to get a vote before the Senate recess in August, but recent changes may affect the timeline.
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