Big 12 Revenue Sharing Power Shift?

The House Settlement is officially here.

Late Friday night, a California judge approved the long-awaited agreement between the NCAA and attorneys representing all Division I athletes.

This marks the beginning of the revenue-sharing era in college sports. Starting July 1, schools will be allowed to pay up to $20.5 million annually to their student-athletes; a number expected to rise in future years.

On top of that, schools will be on the hook for $2.8 billion in back pay over the next decade to former athletes who couldn’t profit from NIL.

But the most intensely debated piece of the settlement is the creation of a new enforcement body: the College Sports Commission. 

This group will work with Deloitte to oversee all NIL deals and ensure they meet “fair market value.” Any NIL deals outside of the $20.5 million revenue sharing cap must serve a legitimate business purpose and pass Deloitte’s scrutiny.

Gone are the days of boosters casually dropping seven-figure checks to land star QBs.

Or… are they?

The plan is to rein in the free-for-all we’ve seen in NIL. If the revenue-sharing cap is real and “fair market value” actually means something, it could significantly level the playing field.

But skepticism is rampant.

Elite football rosters reportedly cost over $40 million this year. Once that toothpaste is out of the tube, can anyone really shove it back in?

This is where Big 12 fans need to start paying close attention.

Iowa State AD Jamie Pollard recently acknowledged how tough it will be to simply keep up with the $20.5 million cap. He floated the idea of using university subsidies or student fees to close the gap, a likely reality for many Big 12 programs.

Then you have Texas Tech and BYU.

According to CBS Sports, Tech is fielding a $40M+ football roster. BYU just landed top-ranked men’s basketball prospect AJ Dybansta, beating out blue bloods like North Carolina, Alabama, and Kansas.

Both schools have the donor base to outspend nearly every other program in the conference—if they’re allowed to.

If the new enforcement structure works as designed, it would limit Tech and BYU’s spending power and, in turn, help level the playing field for most Big 12 schools. 

That’s likely why Kansas AD Travis Goff has been one of the most vocal supporters of the new structure.

With KU investing heavily in a rebuilt football stadium, sustaining a resurgent football program, and financing a basketball program at a blue blood level, Goff clearly doesn’t need the financial arms race to escalate any further.

Still, enforcing this won’t be easy.

The first time Deloitte says no to an NIL deal, expect a lawsuit. Wealthy boosters aren’t known for taking “no” quietly.

There’s been a push for federal legislation to provide legal protection for the NCAA and College Sports Commission, but getting both parties in Congress to agree on a bill that satisfies all sides feels…unlikely.

And let’s be honest: schools don’t need much imagination to find loopholes. 

Cash under the table? Welcome to College Sports 101. NIL deals packed with obligations that are never actually fulfilled? That will be nearly impossible to track at scale.

This could turn into a massive game of whack-a-mole for the College Sports Commission.

And if they can’t keep up?

The Big 12 could fall even further behind. 

It could also mark the beginning of the Texas Tech and BYU era, with the deepest pockets determining who rises to the top.

The truth is, we still don’t know what this settlement really means.

But we’re about to find out. Buckle up.

What You Need to Know

• You're not alone if you’re feeling a little lost in the House Settlement and revenue sharing talk. Here’s a great Q&A to get a better understanding of it all. Curry Sexton is a former K-State wide receiver with a law degree who works with the K-State NIL collective Wildcat NIL. Even if you’re not a K-State fan, I promise you this is extremely informative. 

• Not to be outdone by Texas Tech booster Cody Campbell, who has a “direct line” to the President, SEC Commissioner Greg Sankey, and Notre Dame AD Pete Bevacqua, golfed with President Trump on Sunday. This is a concerning development for Big 12 fans. Here’s what they discussed. 

• Like it or not, private equity is officially here in college sports. The Sports Business Journal reports that two schools have already signed on with PE firm Velocity Capital Management. This comes days after Brett Yormark said the Big 12 is passing on private equity for now. 

• We finally settled the biggest Holy War beef from last fall. After internal review, it turns out the holding penalty called on Utah late in their home loss to BYU was deemed the correct call. Here’s the proof. 

• How does Phil Steele rank teams in the Big 12? The top of this ranking will definitely surprise you. Looks like Phil is buying stock in my two favorite 2025 Big 12 sleepers.

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