College sports are facing a critical deadline as the Protect Sports Act vote approaches. The bill, which aims to bring order to the chaos of college sports, was created after the NCAA and its membership were unable to find a solution to their financial problems.

Background

The NCAA and its membership were overrun when the courts forced the end of its long-standing amateurism rules, losing its collective shirt in 2021 when the Supreme Court ruled that schools could not collude to limit name, image, and likeness (NIL) earnings for athletes. The House vs. NCAA settlement led to a massive wealth transfer from schools to athletes, and spending reached egregious and unsustainable levels.

College leaders have until 9 a.m. Wednesday to respond to the proposed bill, which has been revised to address concerns from the Big Ten and the SEC. The bill includes a $20 million retention cap, with an additional $5 million earmarked for women’s sports, and prohibits any new entity from merging, acquiring or consolidating the assets and media rights of Power 4 schools.

Uncertainty

Despite the revisions, there is still uncertainty about the bill’s fate. Senators Ted Cruz and Maria Cantwell, who co-sponsored the bill, are working to get the bill passed by August 8, when Congress leaves for its month-long summer recess. However, Senate Majority Leader John Thune has intimated that the bill is not a priority.

If the bill does not pass, it could have significant consequences for college sports. The SEC and Big Ten have expressed concern that the bill does not do enough to stop the endless lawsuits filed to circumvent various eligibility and transfer rules.

Original reporting: KRDO (Colorado Springs metro) — read the source article.