SCOTUS Overrules 40-Year Precedent, Two Sports Media Companies Introduce College Sports Initiatives, and Auburn to Have Corporate Logos in 2024 | Newsletter #249
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Today’s Newsletter Includes Auburn Sponsorship News, Revenue Sharing Announcements, High School NIL Evaluations, SCOTUS’ Recent Rulings That Could Affect NCAA, and Much More.
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This Monday Newsletter includes:
1. SCOTUS’ Overruling of Chevron and its Potential Impact on College Sports
2. Ole Miss to Allow Corporate Logos on Field in 2024
3. Playfly and WSC Sports Announce New College Sports Initiatives
4. What’s coming up in the world of NIL
5. Other Legal Updates: SCOTUS Denies a $6 Billion Settlement That Could Play a Role in House Case
6. News/tips for administrators, student athletes and agencies
Major News
The U.S. Supreme Court Ended Chevron Deference Friday
The Court’s ruling in Loper Bright Enterprises v. Raimondo overruled a 40-year precedent that had provided federal agencies with substantial deference in interpreting federal law.
Per the Supreme Court’s ruling in Chevron U.S.A., Inc. v. Natural Resources Defense Council, courts were previously obligated to defer to agency interpretation when a statute was ambiguous and when the accompanying agency interpretation was reasonable or permissible.
The Court overruled Chevron in a 6-3 opinion and held that courts may not defer to an agency interpretation merely because the statute is ambiguous
The ruling means that agency decisions impacting the sports industry, such as whether college athletes are employees, will be more vulnerable to challenge in federal court.
CLICK HERE to learn more.
Ole Miss to Have Corporate Logos on Field in 2024 and (Potentially) on Their Jerseys in the Near Future
Ole Miss athletic director, Keith Carter, said he expects the Rebels football stadium to have corporate logos at the 25-yard lines during home games.
The NCAA recently voted in favor of allowing commercial sponsor advertisements on football fields for regular-season games, and the SEC recently approved on-field corporate logos for athletic venues.
Carter’s decisions was heavily influenced by revenue sharing stating that “If we’re going to have our seat at the table in the SEC with the big dogs and have our opportunities in the CFP and NCAA Basketball Tournament,… [we] have to build revenue.”
Carter went on to say that he expects corporate logos on jerseys to be the next step, and that the SEC will likely approve that option “sooner than later.”
CLICK HERE to learn more.
Two Sports Media Companies, Playfly and WSC Sports, Create New College Sports Initiatives
Playfly, a sports media & marketing company, announced today the launch of Playfly Max.
The goal of Playfly Max is to provide revenue solutions designed for “a new era of not only Name, Image, and Likeness (NIL) but also impending revenue sharing with student athletes.”
WSC, an AI-powered tech company that has predominantly worked with the NBA, is setting its sights on College Sports.
WSC analyzes games in real-time, and creates & distributes countless highlights to digital channels and social media accounts.
CLICK HERE and HERE to learn more.
Other Notable Stories to Follow
College Athlete Solutions (CAS) is looking to invests millions on school athletic departments, and they shared their plans with prospective investors - LINK
EA Sports announces what players are in and out of College Football 2025 - LINK
On-field sponsorships could bring in around $5-$10 million annually for Power 5 programs - LINK
Texas Tech QB inks deal with Equity Sports - LINK
What’s Coming Up Next For NIL
Mid July, 2024 | Florida State Board of Education vote to ratify NIL bylaw change
July 19th, 2024 | EA College Football 2025 release
Other Legal Updates
Supreme Court’s Rejection of a $6 Billion Dollar Settlement Could Have Implications on House v. NCAA
The Supreme Court rejected the $6 billion Purdue Pharma opioid settlement on Thursday due, in part, because it shields those responsible from future lawsuits
The House settlement, like the Purdue Pharma settlement, tries to shield the NCAA from future lawsuits and, like the Purdue Pharma settlement, could be rejected partly because of this.
In addition, the House settlement could potentially be rejected on other grounds including, but not limited to, the amount of schools affected, the specific schools affected, and the length of the settlement agreement.
CLICK HERE to learn more.
Optimum Sports Consulting is here to help.
For athletes looking for NIL insight and advisement, administrators and collectives looking for resources and facilitating a best-in class process, or agents looking to navigate the changing landscape, we’re here to help!
Message us now for a free consultation.
FOR ATHLETES
Notes for the Week
NIL evaluations released for high school athletes - LINK
LSU commit, Bryce Underwood, leads all high schoolers with a $1.3 million evaluation - LINK
Top CB, WR, and OT commits making over $300K - LINK
Tip of the Week: Seek legal counsel
With more and more money coming to college athletes, it is extremely important to have a legal expert look over all contracts and deals that are made.
FOR ADMINS
Notes for the Week
Syracuse’s basketball program is hiring Knicks scout, Alex Kline, as their new General Manager - LINK
TCU and Texas Tech opt into revenue sharing - LINK
Quote of the Week: Mizzou AD Laird Veatch on predicting the future with NIL and revenue sharing
"A lot of it right now is speculation, as you know, so it's trying to anticipate what this could look like and a lot of modeling and strategic discussions in the background with the department and key individuals in the conference and others.”
FOR AGENCIES
Notes for the Week
Rich Paul and Klutch Sports accused of withholding compensation from their Mark Termini, their chief contract negotiator - LINK
Thanks for Reading!
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