University of Texas Athletic Director Steve Patterson says the school has a plan in place that will pay each Longhorns student-athlete $10k when the ruling comes down requiring athletes to receive compensation.
That won’t break the bank, Athletic Director Steve Patterson said Tuesday at a forum on the fast-changing business of college sports. But even rich programs like UT’s will be forced to make tough choices in the future if momentum in the courts continues to push colleges to treat their players like employees or semi-pros, he said.
Patterson said UT won’t have problems paying the extra $6 million to its players. That money will break down to about $10,000 for each player. The money will cover college expenses that aren’t covered by a traditional full scholarship and give each player $5,000 in compensation for the university’s use of his image.
Former U.S. Rep. Tom McMillen of Maryland said colleges should brace for profound challenges to their business models in the near future.
“We’re in for a period of dynamic change,” said McMillen, an All-America basketball player for the University of Maryland who also played for the United States in the 1972 Olympics in Munich. “The system has to change. The money needs to be handled differently.”