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The bolded part for me is where the answer sits.The problem is that they basically lost all ability to regulate NIL... they have to regulate something else to temper NIL because NIL is an all or nothing proposition. As soon as players became entitled to compensation, the NCAA pretty much lost all control over the who, what, where, when and how aspect of that compensation.
Edit to expound...
The one thing they can sort of control is to say the schools can’t directly compensate a player for playing. There are plenty of ways around that, as we have seen. There probably are some things they can do with eligibility, but I think they will struggle with transfer limiting efforts because of what we have seen at programs with coaching changes (USC and Colorado). They don’t want to penalize the outgoing kids, of course, but the schools don’t want to lose the incoming opportunities for a year either... that said, I feel like that has to be part of the answer because the NCAA has to live in grades, academic progress and eligibility standards / restrictions
Make the NIL money go into a trust which is only accessible once the student completes their degree from an Accredited Academic Institution. Heck, put it into bonds or something and let it accrue interest. For guys who make it to the league early before graduating it serves as an inducement to finish their degree after their playing days are over. Tell the kids who want pay for play now to check out the XFL/NBA League Options.
Also I know that's not really an option, but something creative like that where the value isn't realized till them complete school would at least tie back to some of the "Mission" of the NCAA: https://www.ncaa.org/sports/2021/6/28/mission-and-priorities.aspx