Yahoo sports
SEC is set to announce an NIL cap of...brace yourselves...$70 MM. That would be a cap for all athletes in all sports, but would exclude third party NIL from entities that are not associated with the school. So collective money, endorsement deals from businesses owned by boosters, vendor deals, media deals, would all fall under the $70MM. Plus, those deals would be exempt from CSC approval, although I'm not sure how the SEC gets NCAA approval for that.
It also looks like the only enforcement intended is a luxury tax of up to $10MM, which doesn't sound like much of a penalty.
Also in this article, the BIG announced a $49MM cap, but their Luxury tax enforcement doesn't actually kick in until $60MM? I can't wait to hear the details of these new rules....
SEC is set to announce an NIL cap of...brace yourselves...$70 MM. That would be a cap for all athletes in all sports, but would exclude third party NIL from entities that are not associated with the school. So collective money, endorsement deals from businesses owned by boosters, vendor deals, media deals, would all fall under the $70MM. Plus, those deals would be exempt from CSC approval, although I'm not sure how the SEC gets NCAA approval for that.
It also looks like the only enforcement intended is a luxury tax of up to $10MM, which doesn't sound like much of a penalty.
Also in this article, the BIG announced a $49MM cap, but their Luxury tax enforcement doesn't actually kick in until $60MM? I can't wait to hear the details of these new rules....