Has provided complete coverage of the halls of congress, the house and senate floors, two congressional hearings, party briefings and committee meetings. Cspan gives you a front row seat of how issues are debated and decided with no commentary, no interruptions, and completely unfiltered. Cspan, your unfiltered view of government. Next, testimony on compensating student athletes for the use of their name, image, and likeness. Athletic director is from Ohio State University and Texas Christian University say regulations from congress are necessary to level the laying field and to protect student athletes. They testified before the house Small Business committee. Good morning. I now call the committee on Small Business to order. Without objection, the chair is authorized to declare a recess of the committee at any time. I now recognize myself or my Opening Statement. Cy across the athlet cy across the time. I recognize myself for my Opening Statement. Welcome to todays hearing which will focus on the impact of the ncaas name, image, and likeness policy across College Athletics. I would like to thank all of our witnesses here today for their time as we discuss this potential issue. For the first 115 years of the ncaas governance issues the individual College Athlete had no legal right to earn a profit, entitled to nothing beyond room, board, meals, and p education. In 2021 after a series of court cases forced the change of policies, College Athletes could monotize their name, image, and likeness without resulting in sanctions against their university. We are in the early years of the new n. I. L. Era, and i think its necessary to look at the positive and negative consequences of the drastic change in policies. The obvious good, the student athletes can profit during their time of College Sports. Fewer than 2 go on to play professional sports, and in the first full year of n. I. L. , 1 billion in deals were made. N. I. L. Has opened up fantastic new opportunities for entrepreneur College Athletes to look for different avenues to partner with big and Small Businesses, not only allowing them the opportunity to learn business, but businesses to utilize after playing College Sports. Whether it be negotiating contracts or being exposed by paying taxes for the very first time, all of these skills are extremely valuable as we build up a new generation of the entrepreneurs. Small albusinesses have been ab to utilize the athletes for their businesses this is not the norm. Many are businesses in the community and athletes that dont have a presence. This symbolic relationship strengthens the bonds tieing together the college towns. Now what good has come from the changes has not come without negative repercussions. Since theres no uniform set of regulations, individual states are stepping in and passing their own rules, governing their universities. This patchwork approach is putting colleges in different states in the awkward of position of complying with the state law, ncaa tiguidelines, o conference regulations that are conflicting. Im glad we have two Athletic Directors here today to understand the complexity its forcing their universities and students to navigate to shine light on what will happen if we continue that overreaching set of rules and regulations that everyone follows. Additionally with so many or so much money changing hands theres been an increasing number of bad actors looking to take advantage of the high school heand College Athletes. Nbc news conducted an investigation where they reviewed dozens of n. I. L. Contracts offered to high school athletes. They described many of the deals as exploitive, commissions of 40 , and complex fee structures meant to confuse the athlete. In one instance, it was put in front inof the contract for 100,000 loan, and im weary of other federal government stepping in to stop the bad actors, and i think its important to bring attention to this side of the issue to show theres real damage being done to the kids when promises are being made but not kept. Its hard to know who is truly working in the best interest of the student athlete. I played College Athletics myself. I got 10 a month for laundry money. Im not angry the system has changed, and i think its t opened the door for positive developments for student athletes, but im passionate about keeping the system functioning for generations to come so students will be able to experience what it means to truly be a student athlete. Theres many reasons for having this hearing, but i want to list a few. I want to know how we can inspire student athletes to utilize the stills kthey have learned with n. I. L. For their own Small Businesses. I want to hear the best practices universities are doing to teach the student athletes everything they need to know to take advantage of de the amazing opportunity that was not available for millions of athletes before them. I want to discuss the appropriate role for the ncaa moving forward. I want to know how collectives are thelping student athletes and allowing the schools to compete. I want to know how nonrevenue generating sports will do if all money is funneled to the sports that make money. I want to know if olympic and womens sports will be negative effected with revenue sharing models implemented. I want to understand how it affects Graduation Rates if student athletes are constantly changing schools for the largest n. I. L. Deal, and i want to know how smaller market schools will deal if they are constantly having players lured way by deals. I want to know what to do to stop bad actors from taking advantage of student athletes. Finally, i want to know the appropriate role the federal government should play, if the all, in all of this i look forward to the decision cushion they hope will bring to light the challenges and opportunities presented by the n. I. L. Its my hope that all n. I. L. Policy changes are positive for all student athletes above all else. Before i yield to the Ranking Member, i would like to submit an oped from senator cruz into the record. So ordered. I also ask unanimous consent to wave on representative kerry ai for an Opening Statement without objection. I yield to the distinguishing Ranking Member from new york. The success of Americas College students has been top of mind ever since i began teaching courses at new Yorks Hunter College many years ago. The ncaas 2021 decision to allow College Athletes to make a living of their own names, images and likeness or n. I. L. Was welcomed news. Ledge athletes from underserved communities, even with modest deals could finally begin building savings and generational wealth. Many players suddenly had a way to cover rent and living costs, but in ayrecent years the launc and growth of the multimillion Dollar College athletic market has raised questions about the our society treat our College Athletes. Stake holders from across the political aspectrum have voice concerns about gender inequity, predatory agent practices, and the patchwork of confusing regulations. I am concerned with a growing trend of booster collectives steering the largest deal to the top athletes in football and mens basketball. Booster collectives who often closely coordinate with individual schools can undermine the gender equity progress made by title nine and allow the collectives to shortchange our women athletes. They hastily drafted inconsistent restrictions suddenly throwing College Athletes into their First Business experience. To protect them, its critical the students be well equipped we are sources, knowhow, and a stable environment to succeed and build strong brands. Otherwise, we run the risk of distracting our students from their educations and endangering their financial well being. Today is our chance to learn more about the opportunities and risk name, image, and likeness has created for our College Athletes, so we can understand how best to support them. I look forward to hearing the testimony of the witnesses, and with that, mr. Chairman, i yield back. Thank you very much. I now recognize representative mike kerry from the great state of ohio for his opening remarks. I want to thank the chairman and the Ranking Member for giving me this opportunity to make remarks. N. I. L. Is an extremely important issue, and i appreciate the Small Business committee for holding this very tnimportant hearing. Thank you to the witnesses for your time today. We have gene smith, who has done a tremendous job leading the Ohio State Athletic Department over the last 18 years. Of you know, gene has recently announced his s, retirement, and although we are sorry to see you go, i would like to congratulate you on an incredible career. Being from columbus, ohio, which is the home of the Ohio State University, i iehave take great interest in the implementation of n. I. L. In College Sports. Leading me along with my dear friend and fellow ohioan colleague to introduce the student athlete level Playing Field act. In addition to earning money, to help support themselves and their families, n. I. L. Allows student athletes to learn about personal finance, marketing, taxes, and business in general. All of the Lessons Learned through n. I. L. Will supplement their learning in the classroom and will help p to set them up for a life after college. This is not to say that there are not problems with the current state of the n. I. L. Without the proper education and guidance, theres a potential for student athletes to be taken advantage of. By no means am i saying that the predatory practices are common place in the n. I. L. , but it would be disingenuous to say they are nonexistent. Another problem is that numerous states have implemented conflicting n. I. L. Laws, therefore, making the landscape for the n. I. L. Hard to navigate for both the universities and our students. Congress needs to pass legislation that will create a federal l standard for n. I. L. Focused on protecting the recruitment process, increasing transparency in the marketplace, and implementing through the Enforcement Mechanisms against the bad actors. This legislation, my legislation, and gregs, this legislation will include the prohibition of inducements, registration requirement for agents, congressional oversight, and the establishment of the clearinghouse for n. I. L. Deals to be uploaded. I look forward to working with my colleagues on passing legislation that would create one federal standard to even the Playing Field, protect our student athletes, and the future of all College Athletics. I feel confident in a bipartisanway, that the house will be able to pass n. I. L. Legislation this congress. Listen, i just want to thank you for waving me on the committee today and for holding this important hearing. Mr. Chairman, Ranking Member, i yield back. Thank you, congressman. I will now introduce our witnesses. Our first witness here with us today is jeremiah denadi. The director of Intercollegiate Athletics at Texas Christian University in fort worth, texas. Under him the 20222023 season was the most successful in tcus 150 year history, the only school to make it to the playoff title game, College World series, and mncaa basketball tournament in the e same academic year. These are the most highprofile sports, and tcu also saw success in a number of other sports with mens tennis, beach volleyball, number one in the nation over the course of the year. Prior to being appointed to the director at tcu, he was the hornfrog deputy director, the university of puget sound and attended wittier law school. Thank you for being with us today. We look forward to hearing from you. Our next witness today is mr. Gene smith from the school. I dont understand that. But anyway, the Athletic Director at Ohio State University. Only the eighth Athletic Director in ayOhio State University. The Third Largest tenure serving since 2005 and being promoted Senior Vice President and foundational Athletic Director in may 2016. Prior to his time, he served as the Athletic Director at Arizona State university, and eastern Michigan State university. Hes also in then. I. L. Working group. Mr. Smith was a College Athlete himself, attending the university of notre dame where he got his bachelor degree in business administration. Mr. Smith, thank you for joining us today. We look forward to the conversation ahead. The next within is mr. Harietta. He attended the university of miami playing for the miami hurricanes football team, winning the National Championship in 1989 and 1991. He then went on to win the Heisman Trophy in 1992. After his time at the university of miami, he played for several teams in the nfl including vikings, lions, and seahawks. Following his time at nfl, he became a senior Financial Adviser and is the chairman and ceo of touchdown radio. Graduated from the university of miami with a degree in business management. Thank you for joining us today. We look forward to discussing this topic for you. I will have the Ranking Member introduce the last witness before you today. I would like to welcome the Vice President of the College Football players association. Ms. Sulemen in her college years, playing lacrosse nor Duke University and ranked ri number six nationwide by inside lacrosse. However, her College Career also involved many battles with injuries, resulting in three knee surgeries. These challenges gave her a deep understanding of the physical, mental, and emotional issues that many College Athletes endure. She also chaired the Ncaa Division 1 student athlete advisory committee, serving on rules, legislative and leadership groups. Her tireless advocacy led to the granting of voting power for College Athletes at all levels of ncaa governance. As an attorney she has represented College Athletes on matters related to athletic eligibility, scholarship appeals, abuse, and mistreatment, transfer, and Mental Health issues. She holds a bachelor degree in Public Policy from Duke University and a jurisdoctorate from the university of North Carolina law. Thank lyou all for being he today. Before recognizes the witnesses, i will remind them their oral testimony is restricted to five minutes in length. If you see the light red in front of you, your time has concluded, and you should wrap up your time. I recognize mr. Adenatti for h five minutes of opening remarks. Chairman, Ranking Member, and members of the committee, thank you for allowing me to be here today. As someone who is passionate about College Athletics and the opportunity to positively impact young peoples lives t is an honor to testify before you at a time of great change in our industry. Not since the creation and implementation of title 9 over 50 years ago have we seen changes of this magnitude. Its my hope any experiences i can draw from may be helpful as we collectively Seek Solutions to the issues in front of us, none larger than n. I. L. I have 15 years of experience in College Athletics, the director at tcu for 6 years. I have experience working in the Sports Agency business representing the interest of professional athletes and coaches. I believe these experiences have given me a unique perspective on many aspects of the business and especially n. I. L. The concept of allowing student athletes to receive compensation for the use of their n. I. L. Makes great sense. After r all, the vast majority student athletes gewill not pla professionally. It only seems fair they can monotize their talents. Overnight they became entrepreneurs, and almost immediately we saw them signing endorsement d