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California state legislators proposed a bill that would require schools in the state to split 50% of its athletic revenue in football and both men's and women's basketball with the athletes, according to The Los Angeles Times. Senate Bill 1401, titled as the “College Athlete Race and Gender Equity Act," was passed through the California Senate education and judiciary committees and now sits with the appropriations committee, who are set to make the call Thursday on whether or not the bill will reach the Senate floor in Sacramento, per The Times.
The Times reports that California schools, if the bill becomes law, would create a degree completion fund for each athlete, with money from the fund made available soon after they complete their degrees. Athletes would forfeit the fund if they do not complete their degree within six years. Players would have immediate access to no more than $25,000 each year, while the rest of their funds would build over time before they receive that additional money.
In regards to how the bill accounts for transfers — which there have been many in the era of NIL and the one-time transfer rule — the bill states if an athlete transfers to another California institution, the degree completion fund will carry over to the new school, per The Times. Out of state transfers from California schools, however, will forfeit their share of the fund. It is not clear what parameters would be in place for those who transfer into California institutions from out-of-state schools.
USC football would in theory be the biggest benefactor should the bill become law. The Times reports USC football players could make upwards of $200,000 a year given the revenue generated by USC Athletics. A four-year Trojans football player could thus make $800,000 during their USC career via revenue sharing alone, and that's before even factoring lucrative NIL deals that could come with playing in the heart of Los Angeles.
The Trojans, who are entering their first season under head coach Lincoln Riley in 2022, have already found themselves mired it at least one accusation of tampering related to NIL and the transfer portal. ESPN broke a report in late April that Pitt receiver and reigning Biletnikoff winner Jordan Addison was mulling a transfer due to superior NIL opportunities elsewhere, with USC reportedly a contender.
