Exploring $3 Billion Settlement & NIL Policy Effects

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00:00this settlement that came down on Friday, where they basically said, in not so many words, am I

00:07right, that it's basic salary cap for schools now to pay college athletes, right? Is that about right?

00:15And then they also said, secondly, that from 2016 on, they're going to spend almost $3 billion

00:23of back pay to guys that played in that window. And I mean, how'd you like to get that letter in

00:30the mail that they were sending you a couple million dollars? I'd almost keel over. That's

00:36better than the IRS owes you money. I mean, honestly, can you explain both situations for

00:42us and clear it up a little bit? I think people are confused because there's NIL money for athletes,

00:48and now they're saying they're going to pay the athletes. I mean, what's the difference?

00:53Well, the NIL is the supplement or the side hustle, essentially, if you and I like I have my job. And

01:01then if I do another job, you know, freelance, basically, that's the NIL money. So they each

01:08school, the 21 million is the startup, and they'll distribute that how they that's the question I

01:14have is, how do they distribute that? Is that all going to football? What percentage goes where?

01:19And then the NIL opportunities will be enforced by a, you know, they'd sought out a, an independent

01:27firm to police those essentially. So there's a guardrail that we always talk about. And then,

01:34you know, we'll see how this goes in five years. I mean, on one hand, I think it's a good step toward

01:39getting athletes one step closer to employment status. On the other, if this doesn't work,

01:46who knows what the financial system of college football will look like in five years.

01:51So let me ask you this question. Cooper Flagg allegedly made $28 million at Duke. Am I supposed

01:58to believe that? And if that's the case, how in God's name is that possible? And there's some kind

02:07of outfit that's going to police NIL money? Looks like they've been doing a really good job with it

02:13so far. How about the kid at BYU that's going to play basketball? They alleged he's getting 7 million.

02:19I don't believe that for one minute that the Mormons are giving him $7 million, maybe two or three. I

02:25don't buy seven, but has there been any stopping it in terms of how much these guys and girls have

02:31been getting up till this point? Or what's the stopping point would be my question. You know,

02:38if somebody's making 28 million to play one year of college basketball, what are we doing? You know,

02:44and I thought today, if you look at Shamar Stewart's comments with the Cincinnati Bengals,

02:49I think we'll see more of that. One of our more popular stories that's sporting news today

02:53is a story about holdouts. You know, who's showing up for many camps and who's not and who wants a new

03:02contract? And that's going to be rooted when the college guys are making more than the pro guys,

03:07which could be the case in some cases. Then what are we doing? And the other question I want to know,

03:14Scott, is can we see what they're making? Because you and I, we can talk about which NFL guys are making

03:20too much money, not enough money. You get the idea. Can we do that with college athletes now? And is it fair game?

03:27It should be fair game. I think it should be mandatory that we know exactly what they make

03:33because otherwise, isn't it in some semblance, the wild, wild west, they can do whatever they want

03:39and get away with it.