NIL
College Athletics Enters Revenue-Sharing Era As Judge Approves House Settlement
College athletics has officially entered a new era.
On Friday, U.S. District Court Judge Claudia Wilken issued a long-awaited final approval of a settlement in the landmark House v. NCAA antitrust case that paves the way for direct sharing of revenue between schools and thousands of athletes while upending decades worth of tightly held college amateurism rules.
“Despite some compromises, the settlement agreement nevertheless will result in extraordinary relief for members of the settlement classes. If approved, it would permit levels and types of student-athlete compensation that have never been permitted in the history of college sports, while also very generously compensating Division I student-athletes who suffered past harms,” Wilken wrote in her order, which was posted slightly after 9 p.m. ET. “The reaction of settlement class members has been very favorable, as only a very small fraction of them have opted out or objected. The Court will, therefore, grant final approval of the settlement agreement.”
The $2.8 billion class-action settlement was first approved by the NCAA and Power 5 conferences in May 2024 before slowly making its way through the Northern District of California court in a process that was anything but expedient and straightforward. At a final in-person hearing that took place on the day of the Division I men’s basketball national championship game this April, several objectors raised enough issues around thorny subjects, such as proposed roster limits, that caused Judge Wilken to threaten to send the case to trial if changes were not made.
Both parties quickly reworked select parts of the agreement in recent weeks that were later submitted to the court and subsequently had much of the college athletics world waiting for Friday’s final go-ahead for new rules to come into effect on July 1.
“Many looked to April’s hearing about the House settlement as a culmination of sorts, but the court’s final approval of the settlement in fact marks a new beginning for Division I student-athletes and for the NCAA,” NCAA president Charlie Baker said in a statement. “Approving the agreement reached by the NCAA, the defendant conferences and student-athletes in the settlement opens a pathway to begin stabilizing college sports. This new framework that enables schools to provide direct financial benefits to student-athletes and establishes clear and specific rules to regulate third-party NIL agreements marks a huge step forward for college sports.”
The end result is a significant change to the entire college athletics ecosystem. The settlement actually wraps up three antitrust cases against the association and its member schools. In addition to the namesake House v. NCAA lawsuit that was originally filed in 2020 by Arizona State Sun Devils swimmer Grant House and then-Oregon Ducks women’s basketball player Sedona Prince, the deal also addresses issues raised in the Hubbard v. NCAA (focusing on academic awards) and Carter v. NCAA (challenging rules against performance pay) cases.
While the top-line $2.8 billion figure is certainly an eyebrow raiser, the NCAA and its fellow defendants were on the hook for upward of $20 billion had the case gone to trial and lost. The total amount is set to be paid over the course of the next 10 years, with the tab being split 60–40 by the Power 5 conferences and the remainder covered by the NCAA and the rest of Division I in the form of reduced distributions for the next decade. Players who participated in college athletics going back to 2016 will receive most of that—save for hundreds of millions in attorneys fees—with the bulk directed toward football and men’s and women’s basketball players whose lost NIL opportunities were at the heart of the case.
The forward-looking sums are nothing to overlook as schools across Division I will now be able to “opt in” to the settlement on a yearly basis and share revenue directly with their athletes up to a predetermined cap. For the upcoming 2025–26 school year, that mark is set at $20.5 million and all Power 5 conference schools will be required to opt in, though plans for how that money is distributed will vary in terms of the total amount and how much athletes get depends on campus priorities.
In addition to the back damages and pending revenue sharing, there are two other notable tenants of the settlement that are set to change the nature of college sports.
The most controversial from a legal perspective concerned new roster limits for every Division I–sponsored sport. In the past, teams were mostly limited by the number of scholarships they could hand out, such as the longtime cap of 85 in FBS football or the dozen in women’s volleyball. Moving forward, programs will face a hard cap in terms of the number of players—football is moving to 105, for example—but can offer full scholarships to everybody on the roster.
This is expected to greatly increase the number of athletes getting a full ride to their respective school, but will come at the expense of some players’ spots on a team in so-called equivalency sports like rowing or swimming (where overall numbers greatly exceed the number of scholarships handed out). This was perhaps the most contentious part of the settlement over the course of the spring, with objectors raising enough concern over the issue to ultimately force Judge Wilken to withhold final approval until things were amended to include such roster limits already in place over the next few years for those currently on a team or set to be enrolled as freshmen this fall.
On a day-to-day perspective, most athletes and administrators will have to come to grips with another key aspect of the settlement concerning name, image and likeness deals. While there has always been a bit of a Wild West element to the burgeoning NIL space, the settlement attempts to rein things in significantly, particularly with regard to payments coming from booster collectives.
Moving forward, all deals with athletes over $600 will now have to be submitted to a new clearinghouse—dubbed “NIL Go”—that is being run by accounting firm Deloitte and will attempt to determine if such agreements are market value. For those deemed to be above such a benchmark, the deals can either be sent to a neutral arbitrator for review or can be turned down by the athlete. Players who still accept such deals, and even the schools themselves, could face punishment for a new enforcement apparatus that is separate from the NCAA which is set to police such aspects of the settlement and will have penalties ranging from fines to withholding eligibility.
To support all this foundational change, the NCAA’s Division I Board of Directors approved changes to nearly 150 rules in the organization’s byzantine rulebook in April that were contingent on the approval given by the court this week.
Another unprecedented aspect of the settlement is the impact it will have on enforcement of both existing NCAA rules and those terms mandated over the next 10 years as part of the injunctive relief approved by the court. The power conferences incorporated a separate limited liability corporation this spring called the College Sports Commission, which is tasked with overseeing the cap on revenue sharing and empowered with enforcing rules surrounding NIL moving forward—taking the latter away from the NCAA’s existing group overseeing such cases. A source confirmed to Sports Illustrated that Bryan Seeley, MLB executive vice president of legal and operations, is set to become the organization’s CEO and will soon become responsible for adjudicating many aspects of the settlement with schools, players and possibly even boosters.
While the final settlement in the House case is set to upend the status quo in college sports virtually overnight, the changes the larger enterprise is set to undergo will not stop with Wilken’s signature. NCAA leadership has been active on Capitol Hill the past few years lobbying for an antitrust exemption from Congress and has even drawn the attention of the current administration with talk of a presidential commission—fronted in part by former Alabama Crimson Tide head coach Nick Saban—being floated in recent weeks.
Meanwhile, the courts will continue to soak up their share of billable hours. The settlement is expected by many in the legal community to draw additional lawsuits challenging parts, or all, of the issues it addresses and there remain several other notable class-action suits already making their way through the system. Fontenot v. NCAA, which challenges direct compensation on the basis of athletic performance, is one notable example and there are dozens of other pending cases involving athlete eligibility that have been filed in numerous states across the country.
Such concerns will be saved for another day, however, as the furious amount of planning that has gone on in recent months at athletic departments across the country will finally go into overtime in order to hit next month’s start date that, finally, became official on Friday.
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Under a week remains in the window for college football players to enter the NCAA transfer portal in the 2026 offseason. The portal officially opened on Jan. 2 and will remain open until Friday.
Over 4,000 players at all levels of college football have decided to enter the transfer portal in the last month. Some of the most notable entries into the portal include Power Four quarterbacks seeking better situations at their next school.
One of the first quarterbacks to enter the NCAA transfer portal in the offseason was former Nebraska signal-caller Dylan Raiola. He will have two seasons of eligibility remaining at his second school.
The 6-foot-3, 230-pounder was recruited to Nebraska by Matt Rhule as a five-star prospect in the Cornhuskers’ 2024 signing class. He passed for 2,819 yards, 13 touchdowns and 11 interceptions and led Nebraska to its first bowl game in eight seasons and first bowl victory since its win over UCLA in the 2015 Foster Farms Bowl.
Raiola broke his fibula against USC, limiting his season to just nine games. He passed for 2,000 yards, 18 touchdowns and six interceptions in his last year with Nebraska. Raiola announced his intent to enter the transfer portal on Dec. 15, 2025.
While many quarterbacks who entered the NCAA transfer portal were either clearly linked to another Power Five program or had already committed to one, Raiola’s portal journey has been much quieter despite his early entry. Some of the prospects for Raiola in 2026 are less conventional than those of most quarterbacks who enter the transfer portal.
Pete Nakos of On3 reported that one possible option for Raiola in 2026 would be to transfer to Oregon and that if Dante Moore returned to the Ducks, Raiola would still transfer there and use a redshirt.
“Sources have indicated that Raiola is in play to join the Oregon roster regardless of Dante Moore’s NFL draft decision,” Nakos said. “If Moore decided to return to school, Raiola could redshirt a season and be in line to start in 2027.”
Moore is currently projecting as the second best quarterback in the 2026 NFL draft behind Fernando Mendoza of Indiana. As it relates to Raiola, Moore also transferred to Oregon and redshirted a season while Dillon Gabriel started for the Ducks in 2024.
If Moore stays at Oregon and Raiola transfers there, it would resemble that of a transfer prior to the portal’s inception. College athletes used to be required to sit out one full season after transferring from one school to another, but that requirement ended after the portal’s launch.
Is Ty Simpson this year’s Carson Beck? That’s a question the talented Alabama junior quarterback could be entertaining as multiple QB-needy programs reportedly try to sway him to transfer rather than jump to the NFL.
Beck famously declared for the 2025 NFL Draft last January before reversing course days later and transferring to Miami, where he’s led the 10th-ranked Hurricanes to the 2026 College Football Playoff national championship game Dec. 19 against No. 1 Indiana.
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Simpson formally announced his intentions to enter the 2026 NFL Draft last Wednesday. But that move may be on hold after the Crimson Tide’s 2025 starter — through third-parties — has reportedly received high-dollar NIL offers from other Power Four programs, including one particular deal that could total as much as $6.5 million, according to AL.com. That reportedly includes three other SEC programs that are offering at least $4 million for Simpson’s services in 2026, per AL.com.
Prior to his draft declaration last week, On3 insider Pete Nakos reported Simpson was evaluating all his options regarding his future per his agent, Peter Webb of QB Reps. That potentially included returning to Alabama, declaring for the NFL Draft, or entering the NCAA Transfer Portal.
“No decisions have been made about Ty declaring for the draft at this point, and he is still evaluating everything with his family and close advisors,” Webb told Nakos.
Simpson has long been considered a potential first-round lock, and is currently projected to be the third quarterback off the board according to ESPN draft expert Mel Kiper Jr., behind only Indiana‘s Fernando Mendoza and Oregon’s Dante Moore, neither of whom have declared for the draft yet.
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Despite leaving Alabama’s 38-3 quarterfinal loss to Indiana early with a cracked rib, Simpson capped a strong redshirt junior season in Tuscaloosa by throwing for 3,567 yards and 28 touchdowns to just five interceptions in his first year as the Tide’s QB1. That included powering Alabama to an 11-4 record and a first-round victory over Oklahoma in the 2025 College Football Playoffs.
This news about Simpson comes two days after his two backups — redshirt sophomore Austin Mack and five-star true freshman Keelon Russell — both negotiated new deals with Alabama’s team collective, Yea Alabama, to return for the 2026 season.
The 6-foot-6 and 235-pound Mack saw the first significant action of his Crimson Tide career on New Year’s Eve when he replaced an injured Simpson in the second half of a 38-3 loss to No. 1 Indiana in the Rose Bowl national quarterfinal.
Former Auburn wide receiver Cam Coleman committed to Texas out of the NCAA transfer portal, he announced via Instagram on Sunday. The Longhorns were one of three visits by the wideout.
Coleman had a large role for the Tigers’ offense over the last two years. In 2025, Coleman had 56 catches for 708 yards, five touchdowns and 12.6 yards per catch. In two seasons, Coleman has 93 catches for 1,306 yards, 13 touchdowns and 14 yards per catch.
Coleman came to Auburn as one of the program’s highest-rated recruits in recent history. Largely, he lived up to that billing as across two seasons, he hauled in 84 passes for 1,215 yards and 12 touchdowns.
As a high school prospect, Coleman was a Five-Star Plus+ recruit in the 2024 class. According to the Rivals Industry Ranking, an equally weighted average that utilizes all three major recruiting services, he was the nation’s No. 4 overall prospect and No. 2 wide receiver.
He signed with the Tigers over offers from Clemson, Texas A&M, Alabama, LSU and dozens of other major programs. Coleman was committed to the Aggies for nearly five months before they fired head coach Jimbo Fisher, and as a result, Coleman’s future position coach Dameyune Craig. He flipped his pledge from A&M to Auburn on December 1, 2023 — marking a massive recruiting win for Hugh Freeze.
To keep up with the latest players on the move, check out On3’s Transfer Portal wire. The On3 Transfer Portal Instagram account and Twitter account are excellent resources to stay up to date with the latest moves.
Texas is coming off a season where they just missed out on the College Football Playoff. The Longhorns finished 10-3 by beating Michigan 41-27 in the Citrus Bowl.
Led by QB Arch Manning’s second half of the season development, Texas got on a hot streak. That included a win over 11-0 Texas A&M to end the season. Coleman adds to a dynamic offensive approach under Steve Sarkisian next fall.
Georgia football suffered arguably the biggest loss in the Transfer Portal last offseason. Former UGA quarterback Carson Beck made the shocking decision this time last year to transfer to Miami, and that was something that no one saw coming.
Georgia ended up being fine without him as they went on to win the SEC, but losing Beck at the time was not fun.
Fast forward to this offseason and rumors are beginning to swirl of another departure that would be just as shocking and impactful as Beck.
Nate Frazier rumors are the last thing Georgia needs
One of Georgia’s best players this season was running back Nate Frazier. There were countless games where he put the team on his back and helped carry them to victory, and his success this past season has led to everyone at Georgia being excited for what’s to come next season.
Frazier however has not publicly announced that he will be back at Georgia next year and rumors are circulating that he could enter the Transfer Portal.
It’s impossible to state how big of a loss this would be for Georgia. Frazier finished the season just shy of 1,000 yards as he racked up 947 yards and six touchdowns on 173 carries. He also had dominant showings in a few games as well, most notably when he ran for 181 yards against Mississippi State. He was set to have an even bigger season next year as a junior, but that may not be occurring at Georgia anymore.
Frazier hasn’t entered the Transfer Portal yet, but it sounds like there is a chance he does. And if he does it Ohio State could be the team he lands with.
Kirby Smart and his staff have to do everything they can to keep Frazier in Athens. Georgia does have Chauncey Bowens who will return to their backfield for another season, but he can’t do it alone. He needs Frazier with him so Georgia can have one of the best running back duos in the country.
But there is a chance that doesn’t happen next season, and losing Frazier would feel a lot like losing Beck last year.
NIL
Ty Simpson Reportedly Getting NIL Contract Offers After NFL Draft Decision, New Rumors on Alabama QB
Ty Simpson has declared for the 2026 NFL Draft, but that hasn’t curbed college football programs from trying to get the Alabama quarterback on their roster.
According to AL.com’s Nick Kelly, Simpson has been offered “a deal that could total $6.5 million” from one program, while three SEC teams have offered “at least $4 million and more.”
Simpson was the No. 26 overall player and No. 4 quarterback in the class of 2022, according to 247Sports’ composite rankings. He’s a bit of a rare breed in today’s college football landscape in the fact that he waited three years at Alabama before becoming the starter, rather than transferring somewhere else.
Simpson played behind Bryce Young in 2022 and Jalen Milroe in 2023 and 2024 before eventually landing the starting job in 2025. While he had a few shaky outings, he was one of the best quarterbacks in the SEC this year, throwing for 3,567 yards, 28 touchdowns and five interceptions
His final game with the Crimson Tide came in the College Football Playoff quarterfinal against Indiana, where he threw for just 67 yards in a 38-3 blowout loss.
Bleacher Report’s NFL Scouting Department considers Simpson to be the No. 30 overall player and the No. 3 quarterback in this year’s draft class. In the latest mock draft from B/R, Simpson is projected to land with the Los Angeles Rams with the No. 13 pick.
While Simpson is widely projected to be a first-round pick, the NFL combine should give him a good idea of where he might land in April. Assuming he’s a consensus first-round pick, it’s hard to imagine Simpson will return to the collegiate level.
If he isn’t so confident about going in the first round, perhaps he’ll take one of the lucrative NIL offers he’s reportedly received.
Jan. 11, 2026Updated Jan. 12, 2026, 1:12 a.m. ET
Quarterback Ty Simpson may be headed to the NFL, but it’s not because he didn’t have suitors in college football.
Simpson, who started for Alabama during the 2025 season, declared for the 2026 NFL Draft on Jan. 7.
A source close to Simpson told The Tuscaloosa News on Jan. 11 that Miami offered him $6.5 million to play for the Hurricanes in 2026. That would have made him the highest-paid player in college football.
Tennessee and Ole Miss each offered Simpson $4 million, the newspaper reported through the same source.
Simpson is a Tennessee native from Martin, where he won a TSSAA state championship his senior season at Westview in West Tennessee.
Simpson’s base salary at Alabama was $400,000, the newspaper reported. That doubled to $800,000 with incentives.
Simpson has not entered the NCAA transfer portal and has not yet signed his NFL paperwork. However, he plans to play in the Senior Bowl later this month in Mobile, Alabama, according to the newspaper.
Simpson played all four seasons for the Crimson Tide, but did not start until 2025, when he threw for 3,567 yards and had 28 touchdowns and five interceptions. He helped Alabama reach the College Football Playoff quarterfinals, where it lost to Indiana in the Rose Bowl.
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