Chaos has arrived in the NCAA and athletes will need to learn their fair market value following Supreme Court ruling
CNBC spoke to Irwin Kishner, co-chair of Herrick's Sports Law Group, about the recent Supreme Court decision ruling that "antitrust law prevented the NCAA from restricting payments to athletes for items related to the benefit of their education, including compensation for internships." As the article notes, the ruling means that the NCAA can no longer regulate reimbursable items given to student-athletes, however, the schools will need to decide what is reimbursable under educational benefits. Defining "educational benefits" will also be a new challenge left to the NCAA and schools to figure out.
Kishner called the ruling an additional “erosion of the NCAA’s monopoly of collegiate and amateur sports."
Noting that states are ready to enforce player compensation for their intellectual property including their NIL (name, image, and likeness), "[i]t's two wins for athletes," Kishner explained.
Kishner noted that the ruling allows universities to better support student-athletes with resources and “encourage schools to have a lot more reimbursable educational costs.” He predicted possible “bidding wars between institutions whose main purpose is to provide higher education to their students. And now they’re going to be focusing on building these programs and spending big money to entice the best players and have the most competitive programs.”