re: Trev Alberts says A&M will share revenue directly w/athletes $15-$20 mil per year

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If it gets to the point of unions and revenue sharing, college athletes will be contract employees and won't be able to leave if their contract says otherwise.

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This will be collectively bargained with SEC/B10 either together or individually.

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There's a whole lot of things schools can do financially now they simply won't be able to afford in the future.

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Yep, facilities arms race over.

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I also think a lot of school will cease being D1 schools because they barely operate in the black not sharing revenue.

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Those categories disappear. The split will be deciding between pro sports with all of its circus, contracts, etc or true amateurism with a return to the focus on student athletes.

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I imagine many schools will have to make major cuts to their athletic departments and eliminate a bunch of D1 sports, if not all of them.

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Not necessarily. Even if school opts out of being a pro sports factory, you can still provide a lot of the same sports on a much lower scale without TV $. D2 & NAIA have been doing that for decades.