California College Athletes Could Cash in Under Proposed Revenue-Sharing Bill
Excerpts:According to the bill, athletes are capped at $25,000 a year in payments, but any excess money—it could be in the millions—would be placed into a trust so players can earn the funds upon completion of their degree. From the time they are college eligible, they’d have six years to graduate or forfeit the funds.
The bill stipulates that schools must share revenue with athletes in sports that earn twice as much revenue as that sport spends on athletic scholarships. At most schools, those sports include football, men’s basketball and women’s basketball.
For instance, according to 2018 budget figures provided to the U.S. Department of Education, USC football brought $50 million of revenue. The school paid out about $6.3 million in scholarships. That leaves a $19 million gap between the amount paid in scholarships ($6.3 million) and 50% of the total sport’s revenue ($25 million).
According to the bill, USC would be required to distribute that sum ($19 million) to its 85 scholarship football players. On average, each player would earn about $215,000 a year. Men’s basketball players at USC would earn about $155,000. Women’s basketball players would get $110,000.
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Something to watch...
Editorial note: While I like tradition as much as anyone, I'm 100% okay if this happens
