Mike Norvell Gives $4.5 Million Back to FSU

[rcade]

Florida State coach Mike Norvell has restructured his contract and given $4.5 million back to the school for a new fund that shares revenue with athletes:

https://www.espn.com/college-football/story/_/id/43003950/florida-state-mike-norvell-restructures-deal-gives-45m-new-initiative

He makes $9.9 million next year so this is like taking a one-time 45 percent pay cut. He has a deal all the way to 2031 that's in serious peril if this year's catastrophic collapse becomes a trend.

Edited December 16 by rcade

[Mean Green 93-98]

I think I saw that Brian Kelly was doing something like this at LSU.

But how does that even work?  The school/athletic department is not allowed to contribute toward NIL funds.

[El Paso Eagle]

13 minutes ago, Mean Green 93-98 said:

I think I saw that Brian Kelly was doing something like this at LSU.

But how does that even work?  The school/athletic department is not allowed to contribute toward NIL funds.

When it comes to NIL, the power conferences never let anything like rules get in the way.

[Coach Bill Lewis]

A lot of coaches are donating to the NIL.  This is not new at all.

[Udomann]

34 minutes ago, Mean Green 93-98 said:

I think I saw that Brian Kelly was doing something like this at LSU.

But how does that even work?  The school/athletic department is not allowed to contribute toward NIL funds.

They are donating to a shared revenue fund, which will obviously (but somehow legally) get into the hands of donors who will then contribute back to the players.

There are almost zero guard rails on this thing.

Edit: Nope, actually worse:

Starting July 1, each Division I school will be allowed to share at least $20.5 million in revenue with their athletes under a House settlement agreement.

Edited December 16 by Udomann

[Jonnyeagle]

9 minutes ago, Udomann said:

They are donating to a shared revenue fund, which will obviously (but somehow legally) get into the hands of donors who will then contribute back to the players.

There are almost zero guard rails on this thing.

Edit: Nope, actually worse:

Starting July 1, each Division I school will be allowed to share at least $20.5 million in revenue with their athletes under a House settlement agreement.

Anyone know if our coaches will be contributing to NIL? 

[rcade]

12 minutes ago, Udomann said:

Starting July 1, each Division I school will be allowed to share at least $20.5 million in revenue with their athletes under a House settlement agreement.

Does anyone know if this new money is no-strings-attached just like NIL?

[Udomann]

11 minutes ago, rcade said:

Does anyone know if this new money is no-strings-attached just like NIL?

Probably some title IX stuff where it has to have some application across all sports and genders. But that's just a guess

[Mean Green 93-98]

36 minutes ago, Coach Bill Lewis said:

A lot of coaches are donating to the NIL.  This is not new at all.

Not the same thing.

But reading the article a little further, I noticed what the key is: "Starting July 1, each Division I school will be allowed to share at least $20.5 million in revenue with their athletes under a House settlement agreement."

Wow.  That is huge.

EDIT: Sorry, I posted before I read @Udomann's reply.

Edited December 16 by Mean Green 93-98

[meaniegreenie]

Yeah, pretty soon we'll be seeing all of the P2 coaches making $200M/year.  
The most amazing part will be that every one of them will be labeled as the most generous people ever, since all of them will donate 80% or more of their salary to NIL.

Edited December 16 by meaniegreenie

[keith]

58 minutes ago, Mean Green 93-98 said:

Not the same thing.

But reading the article a little further, I noticed what the key is: "Starting July 1, each Division I school will be allowed to share at least $20.5 million in revenue with their athletes under a House settlement agreement."

Wow.  That is huge.

EDIT: Sorry, I posted before I read @Udomann's reply.

Isn't the the House vs. NCAA settlement / revenue sharing agreement thingy?  Doesn't it only apply to P4 Div I schools event though all Div I schools have to pay into the settlement fund or am I thinking about something else.

[keith]

3 hours ago, rcade said:

Florida State coach Mike Norvell has restructured his contract and given $4.5 million back to the school for a new fund that shares revenue with athletes:

https://www.espn.com/college-football/story/_/id/43003950/florida-state-mike-norvell-restructures-deal-gives-45m-new-initiative

He makes $9.9 million next year so this is like taking a one-time 45 percent pay cut. He has a deal all the way to 2031 that's in serious peril if this year's catastrophic collapse becomes a trend.

It will probably be structured as a charitable contribution that will go in part to offset his income for tax purposes.

[NT80]

5 minutes ago, keith said:

Isn't the the House vs. NCAA settlement / revenue sharing agreement thingy?  Doesn't it only apply to P4 Div I schools event though all Div I schools have to pay into the settlement fund or am I thinking about something else.

AI Overview

Schools involved

• The settlement includes the NCAA and the Power Five conference schools. The 27 non-Power Five conferences and their member schools are not defendants in the lawsuit, but they are expected to pay about $990 million in costs. 

   
• Distribution of damages

  The settlement will distribute the $2.78 billion in damages to different categories of student-athletes: 

   

  • Football players: Approximately 75% of the damages will go to football players. 
     
  • Men's and women's basketball players: Approximately 20% of the damages will go to men's and women's basketball players. 
     
  • Other athletes: Approximately 5% of the damages will go to other athletes.

• Settlement amount

  The NCAA will pay approximately $2.8 billion in damages to current and former athletes over a 10-year period. 

   
• Revenue sharing

  Schools will be able to pay athletes up to 22% of their athletic revenue, with the cap starting at over $20 million per school and increasing annually. 

   
• Eligibility

  Athletes who competed from 2016 onwards are eligible to claim a share of the settlement, as long as they agree to drop their complaints and not sue the NCAA for other antitrust violations. 

   
• Scholarship limits

  The NCAA will replace scholarship limits with roster limits. For example, football teams will be reduced to 105 players, but all players on the roster will be eligible for a scholarship. 

   
• Timeline

  The settlement could take effect as early as the 2025–2026 school year. Athletes could begin receiving checks in fall 2025.

[BigWillie]

Wow, I didnt realize it was this bad. So, we have to pay for the costs but see none of the benefits? Or since it says each D1 school, does that mean we are in rev sharing too?

Also, this just means that the schools get very creative in bookkeeping. It's like a tax loophole.

[Matt from A700]

2 hours ago, Jonnyeagle said:

Anyone know if our coaches will be contributing to NIL? 

Get Caponi on the phone.

[NT80]

55 minutes ago, BigWillie said:

Wow, I didnt realize it was this bad. So, we have to pay for the costs but see none of the benefits? Or since it says each D1 school, does that mean we are in rev sharing too?

Also, this just means that the schools get very creative in bookkeeping. It's like a tax loophole.

Each school (or Conference) sets their own limit on revenue sharing, up to $20.5m/yr per program.  But this will not be some new revenue pool of money.    It's only if you want to give some revenue away from your current budget to players, which means maybe cutting some current budgeted items (or sports?).

I'm guessing there may be an AAC in-conference proposed limit?...which Memphis will be opposed to.  lol

It is supposed to be like Athletic Dept run, in-house NIL (all transparent and specified?) instead of the verbal promises and under the table stuff now.

[BigWillie]

1 hour ago, NT80 said:

Each school (or Conference) sets their own limit on revenue sharing, up to $20.5m/yr per program.  But this will not be some new revenue pool of money.    It's only if you want to give some revenue away from your current budget to players, which means maybe cutting some current budgeted items (or sports?).

I'm guessing there may be an AAC in-conference proposed limit?...which Memphis will be opposed to.  lol

It is supposed to be like Athletic Dept run, in-house NIL (all transparent and specified?) instead of the verbal promises and under the table stuff now.

Thanks. This is almost there. The next level is, as you mentioned, at the conference level. There should be another cap. You could probably take the avg of NIL spending across the conference since NIL started as a starting point for the cap.

This could satisfy donors too because they can say, I want my 5 million to be allocated to NIL for X.

Edited December 17 by BigWillie
Punctuation

[NT80]

11 minutes ago, BigWillie said:

Thanks. This is almost there. The next level is, as you mentioned, at the conference level. There should be another cap. You could probably take the avg of NIL spending across the conference since NIL started as a starting point for the cap.

This could satisfy donors too because they can say, I want my 5 million to be allocated to NIL for X.

My concern going forward, even with a cap set, is what will keep a $mut-like program from still offering more $$ above the limit (and under the table) to more portal players?   

Who is enforcing all this NIL Nationally?   The NCAA is toothless.  If NIL is found to be given outside the athletic department of a school will there be known and set penalties?  

[BigWillie]

22 minutes ago, NT80 said:

My concern going forward, even with a cap set, is what will keep a $mut-like program from still offering more $$ above the limit (and under the table) to more portal players?   

Who is enforcing all this NIL Nationally?   The NCAA is toothless.  If NIL is found to be given outside the athletic department of a school will there be known and set penalties?  

This would be no different than pre NIL. They never enforced it before.

[Wag Tag]

Wake up!!!! The NIL is more important than the coaches!