Alabama athletic director Greg Byrne said in a statement Saturday morning that the Crimson Tide plan to fully fund revenue sharing following approval of he landmark House v. NCAA settlement.
On Friday, U.S. District Judge Claudia Wilken officially signed off on the NCAA’s settlement of 3 antitrust cases. Beginning on July 1, schools will be able to directly share up to $20.5 million in revenue with student-athletes. That number will rise over time and is expected to reach $33 million by 2035.
Byrne said Alabama has been preparing for this new reality and is well-positioned to be competitive.
“One of the biggest transformational changes in college athletics is upon us, and Alabama Athletics has been planning for this day and making decisions that best position our department for long-term success,” Byrne wrote. “Approval of the House settlement offers stability going forward, which is something that is much needed.
“We’re extremely proud of the world-class resources our student-athletes receive and will now add to that by offering new scholarships while fully funding revenue sharing.
“In addition, our student-athletes have the distinct benefit of Yea Alabama, which focuses on creating authentic NIL opportunities powered by both the Alabama and student-athlete brands. Crimson Tide Sports Marketing and Learfield will also continue to cultivate local and national opportunities that greatly benefit our student-athletes.”
The expectation from many is that football will receive the vast majority of the $20.5 million now set aside for student-athletes. While Byrne did not publicly commit to a percentage, Yahoo Sports’ Ross Dellenger reported on Friday night that “most power conference programs” are preparing to commit 90% of the pool to football and men’s basketball.
Many question what that will mean for other sports in athletic departments. Alabama is a football powerhouse, and Nate Oats has turned Alabama basketball into a perennial contender in the SEC, but the Crimson Tide have also played for a national championship in softball twice since 2012 and have a baseball program trying to take the next step in an unforgiving league.
In an interview with ESPN, Byrne said, “We don’t have a sport here at the University of Alabama just to have a sport.”
According to financial filings, Alabama reported a $28 million operating deficit during the last fiscal year. Cutting another $20.5 million from the budget to distribute to student-athletes will make things challenging.
Byrne remains optimistic.
“We have a long history of being one of the most successful athletics departments, and we will carry on that tradition as we enter this new world,” he said in Saturday’s statement.
Alabama AD Greg Byrne reaffirms stance of revenue sharing Saturday Down South.
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