Why It Matters
Most Division I college athletics programs spend more than they generate, and a new Congressional Research Service (CRS) report examines whether Congress should intervene in college sports media rights, conference realignment and production facility funding, or leave colleges to govern themselves.
The U.S. Government Accountability Office (GAO) found that 94% of Division I schools, 330 of 352, spent more on athletics than they generated in revenue in the 2023–2024 academic year.
The Protect College Sports Act of 2026, sponsored by Sen. Ted Cruz (R-TX), passed the Senate on Sept. 28.
The Big Picture
Football Bowl Subdivision (FBS) schools collectively spent $13.06 billion on athletics in 2025 and generated $13.03 billion in revenue, according to the Knight-Newhouse College Athletics Database. GAO estimated that Power Four college sports media rights revenue of $2.3 billion in 2023–2024 was nearly as large as the combined athletics revenue of all other Division I colleges, at $3.1 billion. That concentration shapes the report's central policy question: whether a statutory antitrust exemption would let schools bargain collectively and stabilize finances, or whether federal intervention would introduce new complications.
The report traces the current structure to NCAA v. Board of Regents of the University of Oklahoma, 468 U.S. 85 (1984), in which the Supreme Court held that the NCAA's television rights policies violated Section 1 of the Sherman Antitrust Act of 1890. Since that ruling, Power Four conferences have used a "granting of rights" model, under which member schools sign their media rights over to the conference in exchange for a share of revenue.
The Protect College Sports Act, as amended by Sen. John Thune's substitute amendment, would create a "covered entity" with an antitrust exemption to collectively negotiate college sports media rights, if schools voluntarily join and the entity includes at least 75% of FBS schools. Title III of the bill would authorize $180 million annually for fiscal 2027 through fiscal 2032 for competitive grants to help historically Black colleges and universities invest in broadband, media production and sports broadcasting infrastructure.
The report also notes that scheduling a College Football Playoff game on the second Saturday of December would conflict with Executive Order 14396, signed March 20, which directs that no postseason college football game be broadcast in a way that directly conflicts with the Army-Navy Game; a provision in the bill as amended would codify that protection in statute.
The Bottom Line
The Senate passed S. 4668 on Sept. 28 by a 77–22 vote. The House held the bill at the desk on Oct. 5. Unresolved questions include whether the 75% membership threshold is achievable and how a free local telecast requirement might affect media payments.
The report notes that the true costs of college sports may be higher than current estimates, because the expenses tracked by Knight-Newhouse and GAO may not reflect capital expenditures schools incur to meet media production requirements.
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