re: Saban hung up his whistle because of this new landscape

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As long as it's collectively bargained, there should be no problems with compensation.

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In theory, yes. But I think it will be a lot more complicated in reality. Namely Title IX. In a free marketplace the football and men's basketball players would command the highest salaries because those two (by and large) are the only profitable sports. However, you would have blowback from the female athletes to demand equal pay...under the auspices of federal law. So if the No 9 player on the women's golf team is getting paid the exact same "salary" as the All-SEC QB, what strong incentive do the football players have to collectively bargain? They like the current marketplace where they can be paid more of their market value without having to sign a contract.