Now could be the time for budding athletes to get an education whilst earning money for their hard work on the court, according to a new proposal.
NCAA President Charlie Baker sent a letter on Tuesday to Division I members proposing there be a “subdivision” for universities with the “highest resources.” Said institutions would be required to invest a minimum of $30,000 annually into an educational trust designed for student-athletes, according to CBS News. While the proposed move would be quite the task for some universities, it would incentivize students to attend and see-out higher education.
In a landmark move that could redefine college sports, the head of the NCAA has proposed that Division I schools be allowed to compensate student-athletes directly. https://t.co/DksAHCd1xw
— CBS News (@CBSNews) December 6, 2023
The chair of athletics at Coastal Carolina University Joe Moglia believes something like this is an inevitability, CBS News reported. However, it is unclear which specific schools and which students would be paid for being student-athletes.
“This is where it is 100% going anyway,” Moglia said. “I will not be surprised to hear, five years from now, we have a half a dozen guys in college, 20 years old, making $5 million.”
In 2021, the Supreme Court gave college students permission to earn money on their name, image, and likeness (NIL). NCAA President Baker suggests it is time for institutions to be permitted to compensate their athletes directly. The letter sent on Tuesday was delivered to over 350 Division I schools, according to ABC News.
“The challenges are competitive as well as financial and are complicated further by the intersection of name, image and likeness opportunities for student-athletes and the arrival of the Transfer Portal,” Baker wrote, ABC noted. (RELATED: College Lacrosse Coach Ousted From Position After Speaking Up Against Male Athletes Competing Against Women)
Baker’s proposal also addresses the disparity between Division I schools, with athletic budgets ranging from $5 million to $250 million, according to ABC News. While the proposal might be beneficial to some schools over others, Baker notes that not all schools will be required to invest money if they do not want to.