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Why and how does WVU not have the money?
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<blockquote data-quote="WVUALLEN" data-source="post: 132874568" data-attributes="member: 1112294"><p>Back Pay Terms</p><p>Plaintiffs counsel Hagens Berman provided an <a href="https://www.hbsslaw.com/press/ncaa-student-athlete-name-image-and-likeness/hagens-berman-and-winston-strawn-seek-court-approval-of-historic-settlement-to-revolutionize-college-sports">overview</a> on the proposed allocations for the backpay (more detail by sport is in the next section):</p><p></p><p>Plaintiffs counsel Hagens Berman provided an <a href="https://www.hbsslaw.com/press/ncaa-student-athlete-name-image-and-likeness/hagens-berman-and-winston-strawn-seek-court-approval-of-historic-settlement-to-revolutionize-college-sports">overview</a> on the proposed allocations for the backpay (more detail by sport is in the next section):</p><p></p><p>Football and men’s basketball: $135,000 on average</p><p>Women’s basketball: $35,000 on average</p><p></p><p>After all that there will be revenue sharing. </p><p>The pool of revenue that can be shared with athletes will be equal to 22% of the average revenue of the Power Five, plus Notre Dame, for specific categories of revenue.</p><p></p><p>All Division I athletes will be required to report to their school and/or a designated reporting entity (which may be created/identified by the NCAA and conferences later) all third-party NIL contracts or payments with a value of $600 or more. If the athlete receives multiple payments, or multiple agreements, with the same party (or two parties with the same ownership), those will be need to be disclosed if the aggregate value is at or above $600.</p><p></p><p>Schools will be sharing the NIL contracts/payments disclosed to them with the designated reporting entity and the Plaintiffs counsel from the <em>House</em> case. Schools will also be reporting all agreements they enter into with athletes for promotion of the school/athletics program and any other payments or benefits provided to an athlete or their family. Additionally, schools will need to disclose any agreements made by third parties (such as collectives) that originate from, are funded by or made on behalf of the school.</p><p></p><p>A note for schools outside of the Power Five: if you choose to provide any of the benefits of the settlement (revenue sharing, incremental scholarships), you must follow all the terms of the settlement.</p><p></p><p>Then there will be scholarship elimination of scholarship limits. All Division I athletic scholarships have been eliminated as part of the settlement, with new roster limits set. All scholarships will be equivalency awards (meaning they can all be partial).</p><p></p><p>There will be new rules on NIL money.</p><p></p><h2>Potential New NCAA and Conference Rules</h2><p>Section 3 of the settlement allows for the NCAA or conferences to adopt some additional rules before or in conjunction with the settlement. The exact language is that they “may adopt,” meaning these are not rules yet.</p><p></p><ul> <li data-xf-list-type="ul">Prohibiting boosters (individually or collectively) from NIL deals unless the license/payment is for “a valid business purpose related to the promotion or endorsement of goods or services provided to the general public for profit” at rates comparable to what a non-athlete similarly situated would receive</li> <li data-xf-list-type="ul">Capping the number of years an athlete may receive payment at four years in a five-year consecutive period (with the exception of a national force majeure event)</li> <li data-xf-list-type="ul">Requiring athletes to continue to make progress toward a degree in order to receive benefits</li> <li data-xf-list-type="ul">Permitting athletes the ability to seek guidance from a designated enforcement entity prior to entering an NIL agreement to determine if it is within NCAA rules</li> <li data-xf-list-type="ul">Permitting an athlete to retain or regain eligibility if they rescind or modify (and return any compensation already received for) any NIL agreement that isn’t NCAA-compliant</li> </ul><p>[URL unfurl="true"]https://businessofcollegesports.com/legal/breaking-down-the-house-settlement-for-back-pay-and-revenue-sharing/[/URL]</p></blockquote><p></p>
[QUOTE="WVUALLEN, post: 132874568, member: 1112294"] Back Pay Terms Plaintiffs counsel Hagens Berman provided an [URL='https://www.hbsslaw.com/press/ncaa-student-athlete-name-image-and-likeness/hagens-berman-and-winston-strawn-seek-court-approval-of-historic-settlement-to-revolutionize-college-sports']overview[/URL] on the proposed allocations for the backpay (more detail by sport is in the next section): Plaintiffs counsel Hagens Berman provided an [URL='https://www.hbsslaw.com/press/ncaa-student-athlete-name-image-and-likeness/hagens-berman-and-winston-strawn-seek-court-approval-of-historic-settlement-to-revolutionize-college-sports']overview[/URL] on the proposed allocations for the backpay (more detail by sport is in the next section): Football and men’s basketball: $135,000 on average Women’s basketball: $35,000 on average After all that there will be revenue sharing. The pool of revenue that can be shared with athletes will be equal to 22% of the average revenue of the Power Five, plus Notre Dame, for specific categories of revenue. All Division I athletes will be required to report to their school and/or a designated reporting entity (which may be created/identified by the NCAA and conferences later) all third-party NIL contracts or payments with a value of $600 or more. If the athlete receives multiple payments, or multiple agreements, with the same party (or two parties with the same ownership), those will be need to be disclosed if the aggregate value is at or above $600. Schools will be sharing the NIL contracts/payments disclosed to them with the designated reporting entity and the Plaintiffs counsel from the [I]House[/I] case. Schools will also be reporting all agreements they enter into with athletes for promotion of the school/athletics program and any other payments or benefits provided to an athlete or their family. Additionally, schools will need to disclose any agreements made by third parties (such as collectives) that originate from, are funded by or made on behalf of the school. A note for schools outside of the Power Five: if you choose to provide any of the benefits of the settlement (revenue sharing, incremental scholarships), you must follow all the terms of the settlement. Then there will be scholarship elimination of scholarship limits. All Division I athletic scholarships have been eliminated as part of the settlement, with new roster limits set. All scholarships will be equivalency awards (meaning they can all be partial). There will be new rules on NIL money. [HEADING=1]Potential New NCAA and Conference Rules[/HEADING] Section 3 of the settlement allows for the NCAA or conferences to adopt some additional rules before or in conjunction with the settlement. The exact language is that they “may adopt,” meaning these are not rules yet. [LIST] [*]Prohibiting boosters (individually or collectively) from NIL deals unless the license/payment is for “a valid business purpose related to the promotion or endorsement of goods or services provided to the general public for profit” at rates comparable to what a non-athlete similarly situated would receive [*]Capping the number of years an athlete may receive payment at four years in a five-year consecutive period (with the exception of a national force majeure event) [*]Requiring athletes to continue to make progress toward a degree in order to receive benefits [*]Permitting athletes the ability to seek guidance from a designated enforcement entity prior to entering an NIL agreement to determine if it is within NCAA rules [*]Permitting an athlete to retain or regain eligibility if they rescind or modify (and return any compensation already received for) any NIL agreement that isn’t NCAA-compliant [/LIST] [URL unfurl="true"]https://businessofcollegesports.com/legal/breaking-down-the-house-settlement-for-back-pay-and-revenue-sharing/[/URL] [/QUOTE]
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