Unfortunately for lots of the reasons listed above it is very hard to determine how to pay the players and make it fair for everyone but at the same time it is hard to look at these kids generating billions of dollars for schools and the players getting a mere fraction of the money.
About the only way I can think of that would make sense is doing what Cal suggested a few years ago... separating from the NCAA altogether. Mid-majors in football offer very little resistance overall to the national landscape and in basketball it is great to see a Cinderella story but not very often are they actually going to win the title. The only way to make this possible in my opinion would be to have 4 super-conferences that consist of 16 teams each.
Take your 4 leagues in football and make each conference have two divisions. At the end of the season instead of having a championship for each league there would be an 8 team playoff.
So your SEC west winner and your SEC east winner would automatically make the playoff. Then you seed them 1-8 based on whatever rankings you decide and they start the playoff. The teams that are not in the top 8 could still have some type of post season bowl games and even for fun you could still match them up with the school’s left out of the super conferences.
In basketball it would be sort of the same thing, there are 64 teams so it would be easy to make a bracket out based on conference rankings also. Sec champ would play the 16th ranked team from the ACC or something like that.
Now on to the original point of how this would help the players get paid..... you would simply take the profits from each sport and divide it amongst the players, the school’s and the conferences. So 33% of the profit goes to players, 33% to schools and 33% to the conferences. Each player would receive equal pay and that still would bring up the point of Zion bringing in the money but the 13th scholarship player still gets a benefit, but it’s better than nothing I suppose.
It is key to mention that the student athletes would not get a share of the revenue, but of the profits. If they got the revenue then you would have to make them pay for things like their tuition, room and board, flights, food, etc. if they are paid based on the overall profit then you can deduct all of these costs from the overall number and then divide the money evenly.
There is no easy solution to a problem this big, especially when there is this much money involved. The NCAA profits a lot off of these kids and some how stays a “non-profit” and I don’t see any reason for them to change their system that continues to generate billions for themselves unless they think there is a realistic chance that schools would leave them in the future.
However even with this there would be a ton of issues on a national scale. It would basically turn smaller schools and smaller sports into division 2 level or NAIA level where most sports and schools are not fully funded so kids would have to get loans and play sports for the love of the game and go thousands of dollars in debt to attend college like most of America does these days.