The PROTECT Act would bar colleges from making certain agreements involving their intercollegiate athletics programs with private capital firms or sovereign wealth funds. The agreements could not give those firms or funds a share of athletics revenue or rights, control over athletics decisions, or an interest in athletics facilities or property. The bill includes exceptions for services, gifts, certain public or tax-exempt financing, and some sponsorships and advertising. Colleges would have to certify compliance each year and publicly disclose agreements using an exception. Existing agreements would have up to 24 months after enactment to comply or end.
Colleges would have to follow these rules to remain eligible for programs under the Higher Education Act. The bill also covers certain athletics conferences, affiliates, and entities controlled by a college or its athletics department. It does not describe a direct change for students or families.
No publicly available information.
The bill’s findings describe college athletics as a public good and say certain investment agreements could put short-term revenue ahead of student welfare and educational obligations.
No publicly available information.