The College Sports Commission, charged with overseeing revenue sharing over the current “Power Four” conferences, issued a report on Thursday touting over 8,000 deals totaling nearly $80 million since the implementation of a name, image and likeness (NIL) system on June 11 of this year.
More precisely, the report said there have been 32,729 registered users, 8,359 deals cleared, 332 deals not yet cleared and $79.8 million in cleared deals.
Aimed at addressing the $2.8 billion settlement of the House vs. NCAA antitrust lawsuit, the Commission was established in June with the participation of every school in the current Power Four: the Southeastern Conference, Big Ten Conference, Atlantic Coast Conference and Big 12 Conference.
Several schools outside of those leagues also opted into the arrangement on a case-by-case basis.
The result of those moves establishes a revenue-sharing cap of $20.5 million that those schools are allowed to pay their athletes.
The entity gained notoriety in July for issuing guidance to schools that all deals involving NIL collectives — typically school- or booster-affiliated money raising operations — would be rejected.
That guidance was later amended to allow for collective deals, but only if the athletes involved promote “for-profit” goods or services.
The new report attributed the most common issues for clearance as being a delay in attesting to or providing required information, contradictory deal terms and/or mistakes made in entering said terms and deals that didn’t satisfy the valid business purpose requirement.
–Field Level Media
