Post by aggie2039 on May 19, 2022 5:13:05 GMT -5
The California State Assembly is in the process of debating and refining SB-1401, which would require the state's colleges and universities to share a portion of their revenue with football and basketball players.
Per the LA Times, SB-1401 has centered on football and men's and women's basketball because those are the only three sports where scholarships don't account for 50 percent or more of the revenue generated by that sport. And so the California legislature is zeroing in on that, with the stated goal of boosting graduation rates and building wealth among athlete populations that are majority Black.
How would the revenue be split up? From the Times:
footballscoop.com/news/new-details-california-bill-sb-1401-change-college-sports-forever
The amount owed to each athlete would be the half of the sport’s total revenue minus the team’s total student grant-in-aid package divided by the number of players.
Let's say USC football generates $50 million a year and spends $10 million on football scholarships. For the entire history of college athletics, USC has kept that remaining $40 million and spent it as it sees fit. If SB-1401 passes as it's currently written, $20 million that has funded Olympic sports and paid administrators' salaries would disappear from the budget and reappear in a fund for Trojans football players.
The paper estimates each USC player could earn up to $200,000 per year -- in addition to whatever they garner on the NIL market.
Per the LA Times, SB-1401 has centered on football and men's and women's basketball because those are the only three sports where scholarships don't account for 50 percent or more of the revenue generated by that sport. And so the California legislature is zeroing in on that, with the stated goal of boosting graduation rates and building wealth among athlete populations that are majority Black.
How would the revenue be split up? From the Times:
footballscoop.com/news/new-details-california-bill-sb-1401-change-college-sports-forever
The amount owed to each athlete would be the half of the sport’s total revenue minus the team’s total student grant-in-aid package divided by the number of players.
Let's say USC football generates $50 million a year and spends $10 million on football scholarships. For the entire history of college athletics, USC has kept that remaining $40 million and spent it as it sees fit. If SB-1401 passes as it's currently written, $20 million that has funded Olympic sports and paid administrators' salaries would disappear from the budget and reappear in a fund for Trojans football players.
The paper estimates each USC player could earn up to $200,000 per year -- in addition to whatever they garner on the NIL market.
