Senators still working with SEC, Big Ten on thorny issues involved in college sports bill
Summary
Senators Ted Cruz and Maria Cantwell are still negotiating with leaders of the Southeastern Conference (SEC) and Big Ten Conference to finalize changes to the Protect College Sports Act. They hope to vote on the bill before the Senate breaks for summer, aiming to address issues like revenue sharing and rules related to college athletes.Key Facts
- Senators are working on changes to a bill regulating college sports called the Protect College Sports Act.
- The bill aims for a vote before August 7, when the Senate breaks for summer.
- The SEC and Big Ten want clearer rules about revenue sharing, especially a proposed $20 million "retention pool" to keep players from transferring.
- The current salary cap for sharing revenue with players is $21.3 million, which might double under the new bill.
- Officials are concerned about how increases in revenue sharing affect third-party payments to players and compliance with a $2.8 billion lawsuit settlement.
- The bill may also include changes to rules about how many Olympic and women’s sports programs schools must have.
- Negotiations have not yet addressed antitrust protections or state law preemptions, which are key concerns for college conferences and the NCAA.
- There is language to stop private equity firms from paying schools to create a "super league," though that may be revised.
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