how will the female(and acting female) athletes be compensated?
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My idea to fix it (outside of an independent minor league similar to baseball) is:
1) Players can only get a PERCENTAGE of the sale of items with their NIL through a licensed company
2) Players cannot individually negotiate their deal. A NCAA players union would be formed that negotiates the percentages.
3) The percentages can be different for clothing sales, TV rights, Video game likenesses, etc.
It's not perfect but IMO it will do a lot to level the field. Most of the money going to the players would be from TV rights and everyone in the same league would get the same payout. This would be similar to bowl game payouts. You the player contributed to making the league popular to watch so you get a share of the profits. Same with video games, etc.
That just leaves player that sell more merchandise (jerseys, signed footballs, etc.) making more in absolute dollars than the rest. There would still be a little incentive to go to the bigger schools that sell more jerseys but it would pale compared to getting a % of TV rights.
This would be more in line with the spirit of letting players get some of the revenue they generate from their NIL while maintaining SOME balance in a conference. It will make the gap between the big conferences and the smaller ones even larger but that's happening anyways.