URGENT UPDATE: The College Sports Commission (CSC) has just announced a major correction regarding the value of name, image, and likeness (NIL) deals, revealing it overstated the amount by a staggering $44.4 million. The error, attributed to a clerical mistake in data from Deloitte, has sent shockwaves through the college sports community, highlighting the challenges of managing NIL agreements.
Earlier today, the CSC clarified that the total value of approved deals stands at $35.42 million, not the previously reported $79.8 million. This inflated figure included total deals in the system, including pending agreements. The number of deals approved also dropped from 8,359 to 6,090, as the commission aims for transparency in its reporting.
In a statement, Deloitte acknowledged the mistake, saying, “
We take full responsibility for this reporting error. We have taken additional measures to avoid any future recurrence and are fully confident in the NIL Go platform.
” The NIL Go platform was developed as part of a settlement allowing schools to compensate athletes directly for their NIL rights, while also facilitating earnings from external sources.
The CSC, which officially launched on July 1, 2023, is charged with overseeing NIL deals valued at $600 or more. Officials report that most deals are cleared within a week, but there are growing frustrations over delays in processing some contracts. The commission has acknowledged these initial setbacks, stating, “
The CSC is working diligently to speed up wait times and regrets the frustration caused by these initial delays in the process.
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In addition to the reported errors, the CSC confirmed that 332 deals remain unapproved and 75 deals have been resubmitted for review. Currently, there are 2,003 deals pending, with approximately half awaiting additional information and the other half under active review.
This correction underscores the immense responsibility the CSC faces as it navigates a complex landscape of thousands of business agreements tied to the eligibility of student-athletes. As the commission continues its work, it remains to be seen how this adjustment will affect ongoing NIL negotiations and the overall financial landscape for college athletes.
Stay tuned for further updates as the situation develops. The CSC is committed to rectifying these issues and enhancing the clarity and efficiency of NIL deal approvals.
