College Sports Face Financial Crisis and Regulatory Upheaval

College athletics in 2025 is experiencing dramatic upheaval, with significant financial uncertainty highlighted by American Conference commissioner Tim Pernetti and calls for reform from NCAA President Charlie Baker, who has advocated for potential federal legislation to address governance and athlete compensation. The industry now faces fragmented regulation, inconsistent rule enforcement, and fierce competition among conferences, schools, and athletes. Over the past 25 years, college sports have shifted from traditional amateurism to a model featuring para-professionalism, player free agency, and growing financial pressures. Legal decisions and the proliferation of name, image, and likeness (NIL) deals have further weakened NCAA authority, while media executives and conference commissioners have gained influence. Despite the chaos, the evolving landscape offers opportunities for innovation and growth as stakeholders adapt to new power dynamics and regulatory challenges.