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USA Today
an hour ago
- USA Today
College Sports Commission to allow NIL payments to athletes from collectives with scrutiny
Booster collectives will be able to continue paying college athletes, but with restrictions, after an agreement between the plaintiff's attorneys in the House vs. NCAA settlement and the new Collegiate Sports Commission. New guidance from the CSC went out to schools Thursday, July 31, replacing a July 10 memo that raised alarms with House attorneys Jeffrey Kessler and Steve Berman and would have essentially put collectives out of business. Dozens of collectives had been lining up to file a class-action suit against the CSC and the power conferences had the original guidance gone into effect. The CSC was created to enforce terms of the settlement and the $20.5 million revenue-sharing cap and has been given the authority to nix deals that don't fall within certain parameters. At issue in this case was whether the NIL deals being offered by collectives met the CSC's threshold of a valid business purpose. The CSC's original guidance focused on whether the deal came from an entity whose business purpose was 'providing goods or services to the general public for provide.' The vast majority of collectives, whose primary function before the House settlement was simply to raise money to pay college athletes, did not meet that standard. The new guidance will not focus on the entity offering the deal, but whether the deal itself meets the standard of delivering the public a good or service for profit. In other words, a paid autograph signing organized by the collective would theoretically be approved as long as it falls within the standard compensation range for such events as determined by Deloitte, the firm hired by CSC to run its online NIL clearinghouse. As outlined in the House settlement, athletes whose deals get turned down can either rework the deal or appeal and enter an arbitration process. "The College Sports Commission will enforce the settlement as written," CEO Bryan Seeley said in a statement. "Pay-for-play will not be permitted, and every NIL deal done with a student-athlete must be a legitimate NIL deal, not pay-for-play in disguise." The net effect is that collectives will still have a role in paying college athletes beyond the revenue sharing cap, a reality the power conferences hoped to eliminate with the settlement, but will not be able to spend unaccountably as they did before. And, for now at least, the CSC will avoid a significant legal challenge although others are expected in the future around issues like Title IX and the allowable range of compensation for certain activities. A joint statement Thursday from the House plaintiffs and the power conferences confirmed that 'in evaluating such payments, the settlement's requirements focus on substance, not labels. Nothing in the Settlement prohibits an Associated Entity or Individual, including collectives, from making NIL payments to student-athletes, as long as such NIL payments have a valid business purpose related to offering goods or services to the general public for profit and fall within the range of fair market value compensation, as defined by the settlement.'
NBC Sports
an hour ago
- NBC Sports
Deal on ‘valid business purpose' avoids threat of college NIL settlement heading back to court
The new agency vetting name, image and likeness deals in college sports reached an agreement Thursday that relaxes standards on player agreements with third-party collectives and avoids taking the issue back to court after years of legal wrangling. The College Sports Commission said it will now consider a third-party company that seeks to pay a player to have a 'valid business purpose' if the deal 'is related to the promotion or endorsement of goods or services provided to the general public for profit.' It did away with the concept that collectives established simply to pay players did not have a valid business purpose even if they sold products for profit. That guidance, issued earlier in July, threatened to fundamentally change the concept of third-party collectives, which were established in 2021 as the main source of NIL deals for players. With schools now allowed to pay players directly under terms of the industry-changing House settlement, the role of collectives was thrown into limbo. The CSC, in charge of vetting third-party deals worth $600 or more, was trying to make it more difficult for schools to use collectives as a workaround to the $20.5 million cap that the schools are allowed to pay players. Plaintiff attorneys threatened to take the case back to court, arguing the CSC guidance amounted to an incorrect reading of the lawsuit settlement that made the payments possible. The CSC's new guidance provides a more liberal view of what third-party collectives can do. The CSC's 'for-profit inquiry focuses on whether the sale of goods or services is for profit and not whether the entity itself is operating at a profit or a loss at any given time,' the CSC said in a news release. Part of the CSC's requirements include athletes needing to, in certain cases, provide documentation showing the entity's efforts to profit from the deal. In a joint statement, the defendants and plaintiffs reiterated that 'the traditional purpose of many NIL collectives — raising money to induce student-athletes to attend or play at an institution — does not satisfy the valid business purpose requirement.' But, the statement said, 'In evaluating such payments, the Settlement's requirements focus on substance, not labels' — an indication that the focus should not be on whether the organization making the deal is considered a 'collective,' but only whether it sells something to the public for profit. Parts of the arrangement that don't change are the CSC's task of determining fair market value for the goods and services provided and the collectives' ability to match athletes with other businesses offering NIL opportunities.
Yahoo
2 hours ago
- Yahoo
NI house sales website PropertyPal bought by Dublin firm
PropertyPal, Northern Ireland's main house sales website, has been bought by a company which operates a similar business in the Republic of Ireland. The new owner is Dublin-based Distilled which operates the house sales and rentals website. Distilled's other brands include the DoneDeal online car marketplace. Last year, PropertyPal merged with rival site Propertynews, although the two continue to operate as separate brands. That deal came after the entrepreneur Cecil Hetherington bought into PropertyPal. Mr Hetherington is the founder of Used Cars NI which is also being bought by Distilled. In 2023, Distilled made a pre-tax profit of €12.2million (£10.6m) on turnover of €41.4m. Emma Marley will continue in her role as CEO of Used Cars NI. Likewise, Jordan Buchanan will continue in his role as CEO of PropertyPal. The companies will be overseen by a new Northern Ireland Board to be chaired by Cecil Hetherington.
