Kirk Ferentz on revenue sharing: ‘There’s going to be a gap between haves and have nots’
The world of college athletics has been the wild west ever since NIL was introduced a few years ago. Now there’s collectives, which essentially requires fans and donors to ‘pay for play’. Without proper funding, acquiring and retaining players becomes incredibly more difficult.
Just last night, a bombshell dropped that will further bring college closer to the pros than it has ever been before. It was announced the NCAA has reached a ten year 2.8-billion-dollar settlement to completely reshape the landscape of college sports.
In short: Revenue sharing is finally here. The NCAA national office and schools will be required to pay former athletes that 2.8-billion-dollar total over ten years. The new framework will be implemented in 2025.
Here’s how it works: Each school has 20-22 million dollars to pay players each year. Walk-ons will likely no longer be a thing; each player will be on a scholarship. Collectives will still be in the place, but the money is no longer going to be totally dependent on donations.
I asked Iowa football head coach Kirk Ferentz on the possibility of revenue sharing weeks back.
“There is absolutely no structure in the world we’re living in currently,” Ferentz said. “That’s not sustainable, the money is big and it keeps getting bigger. To have an organization like college football as big as it is, not to have the structure that we need.
“Hopefully that’s going to get reigned in a little bit and everybody understand what’s the playing rules are. My biggest concern right from the onset of NIL is there’s going to be a gap between the haves and have nots. Big market versus the small markets, and I don’t think that’s good for any sport.”
“Hopefully we can get into a structure more of what the NFL has hopefully that’s doable.”
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