Big Ten Sets $49 Million NIL Spending Cap Per School, Effective Immediately

The Big Ten announced Wednesday that each member school can now spend no more than $49 million on athlete deals, effective immediately. The cap splits into $21.6 million in revenue sharing under the House settlement and $27.5 million for third-party deals, including collectives. It mirrors the proposed Protect College Sports Act, which would allow roughly $50 million in athlete payments, including a retention fund of up to $22.5 million and $5 million reserved for women's and Olympic sports. The bill still needs a House vote. Some lawmakers want changes on athlete employment status and international athletes, any amendment would send it back to the Senate, and it dies if it is not law when the new Congress is sworn in on January 3.