Big changes coming to college athletics

GREENSBORO – The University of Georgia Athletic Board went into executive session for approximately 32 minutes during its quarterly meeting Thursday at the Ritz-Carlton Reynolds Lodge.

Its purpose – to update attendees on the $2.8 billion settlement agreed to by the NCAA in the House vs. NCAA lawsuit and how it could affect Georgia’s athletic department.

SEC presidents were scheduled to vote later today, one day after the NCAA Board of Governors voted Wednesday to approve the settlement.

Under the settlement, the SEC, Big 12, SEC and Big Ten schools would share the future revenues, which are reported to cost each institution from $19 to $20 million a year.

So, how might this affect Georgia?

“We’ve got to be a little cautious because nothing has been settled yet,” UGA president Jere Morehead said. “We’re still going through a very detailed and slow process that is likely to go on for several months, and I think I’m going to defer to Commissioner (Greg) Sankey on making any public statement related to the settlement statement.”

Recent lawsuits by the NCAA relating to NIL have all been met with defeat.

“The challenge that we’ve had is we’ve not been successful in litigation, particularly in front of this particular judge (U.S. Judge Claudia Wilken) in California and I trust the collective judgment of individuals like Commissioner Sankey and President Charlie Baker at the NCAA, and others that have been guiding us where we need to go at this point,” said Morehead.

On Friday, the UGA athletic board will vote to increase its 2025 fiscal year budget which is expected to exceed $192 million. It will be an increase of 10 percent over last year.

So, how will Georgia fill the void?

Athletic Director Josh Brooks said the school will examine different ways to make it happen. Raising ticket prices for football and baseball after this season could be an option.

"You have to pull every level. Just like you will with personal finance, we’re going to try to find ways to generate revenue whether it’s doable through a media right partner, future TV contract with the CFP,” Brooks said. “I think looking at ways with the ticket prices is a way. But we’ve got to be good stewards of our money. We’ve got to make sure we operate in the most efficient manner possible.”

In other news from the board meeting:

…The Georgia Bulldog Club has raised a record $113 million in fiscal year 2024. That beats the previous record of $102 million in 2023. The Capital Campaign, which ends June 30, 2027, has raised $176 million toward the $300 million goal.

Phase 2 of the Sanford Stadium South Side Improvements, which includes a new press box, is estimated to be completed by August.

…There will be updates to the Sanford Stadium refrigerators. Of the projected $1.95 million budget, $1 million will be funded by a concessionaire grant and $950,000 from operating reserves.

…The estimated start for construction on the new track and field facility is August 2024 with an estimated completion date of January 2026.

…The estimated start date on the new video board at Stegeman Coliseum is March 2025, with an estimated completion of Fall 2025.