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Something's got to be done, right? Because the system needs it fixed. The courts have said that the way the NCAA has operated for years is against the law. And so our lawmakers are finally doing something. A couple good things about it.
First of all, it's bipartisan. Second, it's in the upper chamber. Third, they're going to put some rules around transfers and a salary cap and how old kids can be. I mean, college kids should be playing basketball between the ages of 18 and 24. Not, you know, not in their upper 20s.
We got kids that are coming out of the NBA, coming over from Europe that have been pros for years. And it's costing our high school kids scholarship opportunities.
So I think this is a very good step.
So that's it. That is Bruce Pearl, a former and longtime coach of the Auburn University basketball team, very successful, now speaking out about what he finds out is the rundown of a new piece of legislation that will help bring some reform to college sports and much-needed reform while still allowing payment. But you have to have some type of salary cap and some type of rules. A guy that knows that and was chaired with making it possible and coming up with rules and regulations that work to move the game forward is the chairman of the Presidential Committee on College Sports, also president of the New York Yankees when he has time, Randy Levine. Randy, I know how much this meant to you to do this.
You tackle this. What was your approach to doing it? First, listen to all angles and then come up with a piece of legislation that both Democrats and Republicans can get behind?
Well I give all the credit in the world to Senators Cruz, Cantwell, Schmidt, Koons, and a bunch of others who have been part of this. As you know, Brian. Everyone went to the president. They said this problem was. Killing college sports.
Schools were hemorrhaging money. Schools were cutting Olympic and women's sports. And so Um We put the president's roundtable together. We came up with a lot of solutions. We worked with the senators.
And all I can say is now is the time we're going to see of all of these universities, all of these conferences, the NCAA, whether they really want to solve the problem or not. Because this bill, it's not perfect, but it has 80% of what everybody. In our committee and throughout, it has asked for. Deals with eligibility, it deals with transfer, it deals with providing student athletes. Health, scholarship protection, and rights.
Today, the system is so clogged up, they can't even get the NIL payments that they're entitled to. It's the cheating that's going on.
So we're gonna now see. The President of the United States. what he was asked to do. The Senate, bipartisan, has done what they've said that they're going to do. And now we're going to see if these universities are really serious about trying to solve the problem or was it just A sham.
Yeah, I mean they asked government for help, right? They knew it.
So when the NCAA gets overruled time and time again and it becomes everyone gets paid, the big schools were paying their players in the sports like basketball, the revenue producing and football.
So you guys listened, you talked to the former coaches, former players, and then you figure how do I do this?
Some things that you brought up In an overview, you gotta be, you can't play college sports past the age of 24 without exception, correct? Number one, you gotta start at 18, 19. You get one transfer. If you're gonna transfer again, you're gonna have to sit out a year unless the coach leaves.
So these are some basic things that are not.
Well, there's not, there's exception for a religious mission, military service, things that are justifiable. Understood. We've all heard the radio ads about the IRS. They tell you to be afraid and they try to frighten you into calling. I'm here to tell you that tax relief advocates is different.
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How does Dick Sporting Goods go approach that? There's going to be. a method and practices to do that, and there's going to be a cap on how much they can get. No. If Dick Sporting Goods came to Randy Levine, honest third party, you know.
Transaction, that's fine. A student, you know, can do that, and whatever Dick Sportingood wants to pay him. That's fine. That's not what was happening. What was happening is there was a cap.
And schools would, in the past, sell their rights to a third party. And that third party would pay them, and they'd use part of it in order to subsidize women's Olympic non-revenue sports. That To get around the cap, what they've done now is they form what's called collectives.
So these collectives are.
Now receiving the money that would have gone directly to the third party. And let's say I'm just making it up: University X. In the old days, we'll get $100 million from a third party.
Now they sell their rights to the collective for $100 million, but the collective says to the third party they sell it to. You don't really need to give us. 100, give us 80 and just give 20 to the students. And that's a back door way to avoid the 20.5. cap that's in the house settlement.
And that's why schools, certain schools are, you know, have payrolls of forty, fifty million, which most people, even even in the SEC and Big Ten, right, can't compete with. And that's what's causing universities to cut Olympic sports, cut Women's sports because they just can't sustain it. You know, adding student fees, this solves that problem. Yeah, I mean, the Olympic sports are, uh, the Olympic sports are a real issue because there are no revenue. You go to a field hockey game, it's their parents.
Soccer, when I played, my parents, friends and family, and a handful of students.
So, what's going to happen to those sports? Can you, in layman's terms, give us an idea of why should people feel better in this system that those sports have a future, like wrestling, for example? Because under this system, the money Under the bill. And under what we're, you know, the Senate's trying to accomplish, the money that's needed to subsidize that sport will not go. Will not go into subsidizing backup quarterbacks or fourth guards in basketball, mostly football.
And there will be enough revenue, like there was in the past, to subsidize. those sports. And remember, these are college Athletes. We have on our committee a lot of college student athletes, and they want to be college student athletes. They want to feel part of a team.
They don't like when the team changes every single year. They don't like when the coach changes every single year. They're student athletes, and whether they're playing field hockey, soccer, or Division I football. almost everyone i've talked to a thousand student athletes. Nobody wants to be in a union.
Nobody wants to be an employee. They want to be student athletes. And, you know, that's a good issue here. People are gonna have to compromise. You know, in the House they had the Score Act.
where they were assisting on student athletes not being employees. There are certain people who think that there should be collective bargaining. These people are going to be in the union. That's not That's not achievable in a piece of legislation.
So, this legislation basically calls them student athletes and leaves that question open for people to decide later on.
So, that's why I said we're either gonna. Stand on ceremony and pretend. That we're going to fix the problem, or we use this bill, which is bipartisan. And you know, Brian, in Washington, it's tough to do anything bipartisan as a model to solve the problem. And the fix is 80% of the In this bill, are what all the universities, the student athletes, talked about you know there's going to be complaints from agents because guess what Now they're gonna have to be certified and registered like they are in professional sports, and they won't be able to charge 20%.
They'll be able to charge 5% like professional sports do.
So there's a lot of people here who. Are going to be affected in a negative way, but the system today is not sustainable. And this will make it sustainable. This is going to be great.
So, we're going to get hopefully a vote on this and get this into play right away and empower the NCAA to enforce again rather than get sued on everything they make. Randy, you did your job. Once again, the president helped ask you for help and you stepped up for him. I know he appreciates it.
Well, I would just say, Brian, you know, for everyone, your viewers. The NCAA Which caused this problem. We haven't even heard from them yet. Wow.
So, Randy, we'll have to leave it there because I'm out of time. But thanks so much, Randy. We heard from you, we appreciate it. Why pay when you can slash? TikTok slash and free lets you cut prices all the way to zero.
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