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South Carolina NIL arm issues statement following House settlement approval
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The official NIL partner for South Carolina, The Garnet Trust, said in a statement Saturday morning that they have been preparing for college athletics’ new future, which became a reality on Friday night with the approval of the House v. NCAA settlement.
On Friday, U.S. District Judge Claudia Wilken officially signed off on the NCAA’s settlement of 3 antitrust cases. Beginning on July 1, schools will be able to directly share up to $20.5 million in revenue with student-athletes. That number will rise over time and is expected to reach $33 million by 2035.
“The settlement in House v. NCAA marks a pivotal moment in the evolution of college athletics,” The Garnet Trust said in its statement. “We are grateful to see long-overdue structure and clarity beginning to take shape in this space.
“We applaud the University of South Carolina’s athletic department for its leadership and collaboration throughout the NIL era. Their commitment to student-athletes has helped set the tone for what thoughtful, values-driven progress can look like.”
Starting this summer, NIL deals between athletes and third parties will be subject to approval by the new NIL clearinghouse, “NIL Go,” to ensure the deal is for a “valid business purpose” and not a thinly-veiled pay-for-play contract.
Deals that are not approved could lead to fines for schools and eligibility disruptions for players.
“Garnet Trust has been preparing to adapt with purpose in this new chapter of NIL,” the collective wrote. “Our role has never been solely about financial support. We are here to help student-athletes build their personal brands, make informed financial decisions, and develop the tools they need for long-term success. We remain committed to empowering them to fully capitalize on their name, image, and likeness, especially in ways permitted beyond the new cap on direct school payments.”
Derek Peterson does a bit of everything, not unlike Taysom Hill. He has covered Oklahoma, Nebraska, the Pac-12, and now delivers CFB-wide content.
