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How NIL should/could work

First of all, any proposal that begins with “Let’s pretend the courts won’t overturn this“ is doomed. The only viable solutions begin with what is legally feasible.

Secondly, why would players voluntarily join a union that would force them to give up massive amounts of compensation? With players making upwards of 7 figures, all the higher profile guys will want nothing to do with this. Neither will the schools who have rich donors and boosters.

Finally, all of the unions for other sports usually begin their negotiations around the revenue split from all the money the league is generating. For most of the major US sports that number is around 50%. That is why professional athletes willingly agree to belong to a union. Other than the SEC, none of the other conferences has shown any interest in sharing revenues with the players.
If players were able to get 50% of NCAA tournament revenue and 50% video game licensing 99% of players would make more money. The handful of players that would be better off with the “fake NIL deals” would be out of luck and have no option but to play professional basketball.
 
PSU as an institutuion and culture would be completely destroyed if say they finished last in whatever conference they played in for 20 years. Would enjoy seeing that
State Penn $$$$ will never stop, hate to say it but it true. When State Penn plays, all of Central Pa residents are attending or watching.
 
Why not allow them to take a cut of jersey sales?
Rutgers has lost millions of dollars on the football team over the years. Having the school directly pay cash to players will just increase their losses. Now if you wanted to work at a distribution to players based on net profit, rather than gross income for a team, then I can see your point.
 
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