Big Ten adopts new conference rules to raising financial cap, aligning with Protect College Sports Act
· Yahoo Sports
The Big Ten Conference released a statement regarding their preparation for framework regarding the Protect College Sports Act on Wednesday. Presidents and Chancellors from the conference met Tuesday ahead of this announcement.
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Yahoo Sports’ Ross Dellenger provided more context to the announcement. It involved a financial cap, as well as the creation of new rules, strict ones at that, regarding third party NIL.
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“The Big Ten has adopted these new conference rules that align with the athlete compensation framework in the Protect College Sports Act, raising the cap from $21.6M to $49M, creating strict rules on school-affiliated 3rd-party NIL and establishing penalties for exceeding the cap,” Dellenger wrote.
“Approved by the conference’s chancellors and presidents on Oct. 28, the Big Ten is adopting a conference-level rule limiting member institution involvement in third-party NIL agreements in preparation for the anticipated passage of the Protect College Sports Act (PCSA),” a Big Ten release also read. “The conference’s chancellors and presidents continue to remain in unanimous support of the PCSA and look to demonstrate their commitment to it with the new rule.”
Big Ten preparing for Protect College Sports Act
A statement from the Big Ten Council of Chancellors/Presidents Chair Pamela Whitten on behalf of the Big Ten’s presidents and chancellors was also released Wednesday.
“While we await the passage of the Protect College Sports Act, which has our full support, it is imperative our member institutions can begin to plan, budget and build their rosters approximating the act’s economic structure,” it said. “Our institutions remain in full support of the Protect College Sports Act and this rule not only allows for a much smoother transition into the policies put in place by the act once it passes, but demonstrates our commitment to it.”
“The timing of the Big Ten rule is intended to both guide member institutions and alert the public as to Big Ten institutional constraints in upcoming NIL discussions with student-athletes,” the Big Ten’s statement continued in part. “The rule effectively requires Big Ten institutions to initiate the financial and operational mechanisms necessary to comply with PCSA limits in advance of upcoming signing and transfer portal windows. The rule is effective immediately and each institution and its lead athletics staff must attest their compliance with the rule.
“This policy applies to institutional action only as student-athletes remain free to pursue NIL opportunities with any entity (associated or non-associated) on their own. The Big Ten rule does not replace any existing rules or policies. Big Ten institutions remain subject to all current NCAA rules and College Sports Commission (CSC) policies, including those regarding valid business purpose, permissible range of compensation and submission and review of third-party NIL agreements.”