For millions of Americans, September not only marks the beginning of fall, it marks the beginning of college football season. The fans pack enormous stadiums, watch on TV by the tens of millions, cheer for their favorite teams and boo their traditional rivals. There are very few fans supporting both Ohio State and Michigan, and neither is supporting Notre Dame. It’s the great American sport.
And it is in deep trouble.
The problem stems from the usual suspects: a few far-reaching court decisions affecting the players, the comatose response of the sport’s ruling body, the NCAA, and the looming threat of government action if private actors can’t solve the problem themselves. So far, those private actors have failed. You know you’re in trouble if you’re counting on Congress to be the adults in the room.
The court decisions revolve around money – specifically the serious money players can now earn by marketing their Name, Image and Likeness, known as NIL. The NIL cornucopia did not suddenly bring big money into college football. For years, money has poured in from tickets, TV and merchandise, funneled to universities and coaches at major programs. It was the players who were left out.
So, what changed financially? It was the combination of NIL money and recent court decisions, which meant the players themselves could now grab that pot of gold, or at least grab it if they were prominent players in lucrative media markets. In fact, teams can recruit players by guaranteeing them NIL money.
