URGENT UPDATE: The College Sports Commission (CSC) has just announced a significant correction regarding the value of approved name, image, and likeness (NIL) deals, overstating the amount by a staggering $44.4 million. This revelation comes just one day after the commission released its initial data, raising alarms in the sports community.
The CSC confirmed that the actual total for cleared deals is $35.42 million, not the previously reported $79.8 million. The inflated figure included pending deals, leading to confusion about the actual financial landscape for college athletes. This clerical error was attributed to data provided by Deloitte, which developed the NIL Go platform.
The CSC also corrected the number of approved deals, now confirmed at 6,090 instead of the earlier claimed 8,359. The latter number represented all deals in the system, including those still awaiting approval. Deloitte has publicly stated, “We take full responsibility for this reporting error,” and assured that measures are in place to prevent future inaccuracies.
This error highlights the immense challenges faced by the CSC, which began operations on July 1, 2023, with fewer than six full-time employees. The commission is tasked with ensuring that thousands of business deals made by athletes comply with NCAA guidelines, a process that can impact their eligibility.
In a bid for transparency, the CSC is releasing data on NIL deals worth $600 or more regularly. Officials have acknowledged frustration regarding the length of time for some approvals but emphasize that most deals are processed within a week. “The CSC is working diligently to speed up wait times and regrets the frustration caused by these initial delays,” said a spokesperson.
Despite the setback, the CSC reported that 332 deals had not yet been cleared, and 2,003 deals are still pending, half of which are awaiting additional information. The commission is committed to refining its processes as it navigates this complex new landscape for collegiate athletes.
As this story develops, stakeholders in college sports are urged to stay informed about the evolving NIL situation, especially as the CSC strives to enhance efficiency and transparency in its operations. Share this urgent update to keep others informed!
