Big Ten Deal, NIL Rules Transform College Sports

College athletics are being reshaped by new NIL rules, the transfer portal and major commercial deals: NIL lets athletes, including those in smaller sports, profit from endorsements and entrepreneurship but a patchwork of state rules creates uneven advantages. The Big Ten is reported to be weighing a private-capital deal reportedly worth more than $2 billion that could extend grant-of-rights through 2046, with private equity firms in serious talks and some member schools unconvinced. The NIL and revenue-sharing era has made verbal recruiting promises fragile—coaching changes often trigger decommitments and leave unenforceable oral agreements unresolved until a national letter of intent is signed. The transfer portal is accelerating roster turnover and strategic divergence across programs, with some teams adding dozens of transfers while others target a few impact players, and scheduling shifts have produced rare interconference matchups. Younger fans (ages 18–29) are more likely than older cohorts to support paying college athletes and recent conference realignment, while Division III programs continue to emphasize a balanced college experience focused on academics and competition.