The one consistent reality of NIL is that it has never settled into a definition since its inception. It continues to evolve and change, and has new clarifications and even ramifications. Yesterday marked another turning point in NIL. House attorneys agreed to allow NIL collectives to pay athletes as an above-and-beyond to the revenue-sharing program put forth in the House vs. NCAA settlement.
This essentially means that there is no hard cap. At the same time, a school will be limited to revenue sharing of around $20.5 million. Which is now being called a soft cap since as long as schools and NIL collectives can prove “fair market value" for their deals, it's a go.