FHSAA Approves NIL Proposal, NCAA Leaders Return to Congress, & ICYMI | Newsletter #242

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Jun 06, 2024

This Thursday Newsletter Includes:

The Florida High School Athletic Association had its final meeting on Tuesday where the board of directors unanimously voted to allow prep athletes to profit off their name, image, and likeness.
With the change, 36 local athletic associations now allow student-athletes to participate in NIL deals on the high school level.
Top Florida recruits such as wide receivers Jaime Ffrench and Vernell Brown, have already inked NIL deals since the FHSAA vote went public.
The South Dakota High School Activities Association could become the 37th governing body to permit NIL activities for high school players when their impending vote becomes public in the coming days
CLICK HERE to learn more.

Two Circles announced the creation of its new collegiate business vertical – Two Circles College – aimed at the NIL landscape for student-athletes and their universities.
Nick Garner, former CEO of NIL marketing agency Every True Tiger Brands, LLC, will serve as Executive Vice President.
The goal is to help schools design sustainable NIL programs through the creation of school-specific NIL marketing agencies with the help of Two Circles College.
CLICK HERE to learn more.

Leaders of NIL Collectives will return to Congress this week for the first time since the House v. NCAA settlement was announced .
The Collective Association, which represents 40 NIL entities, has meetings this week with prominent Capitol Hill figures such as Sen. Cory Booker, Sen. Ted Cruz, Sen. Marsha Blackburn, Sen. Lindsey Graham, Sen. John Hickenlooper and Rep. Russell Fry.
Although the NCAA and power conferences agreed to terms, the NCAA is expected to lobby for legislation that (A) will codify the House settlement, (B) grant the NCAA a limited antitrust protection, and (C) classify that athletes are not employees.
Judge Claudia Wilken still needs to ratify the NCAA v. House settlement, and some sports law experts, such as Michael McCann, believe there is a real chance that she rejects the deal. LINK.
CLICK HERE to learn more.

Today | NCAA will consider a proposal to bring corporate sponsorships to football fields and jerseys
June 12th, 2024 | SDHSAA NIL vote becomes public
July 19th, 2024 | EA College Football 2025 release

House v. NCAA: The Historic $2.8 Billion Dollar Settlement:

The NCAA is set to pay damages to current and former student athletes from as far back as 2016 who were prevented from earning endorsement money.
The NCAA would be responsible for 41 percent of the total settlement, roughly $1.2 billion from reserves, and collegiate conferences would be responsible for the remaining 59 percent, around $1.6 billion.
The House settlement includes an optional revenue sharing plan that would share up to 22% of revenue with athletes - more than $20 million a year per school. The revenue sharing plan would be an addition to scholarships, third-party NIL payments, health care and other benefits that college athletes already receive.
The House settlement would also resolve two current antitrust lawsuits - Hubbard v. NCAA and Carter v. NCAA. Fontenot v. NCAA, a separate lawsuit filed in Colorado, would not be affected by the House settlement.
The NCAA Board of Governors and leaders from the Power 5 conferences - ACC, Big 12, Big Ten, Pac-12 and SEC - voted to approve the House settlement.
CLICK HERE to learn more.