I hadn't heard about Spyre until after they went and got Nico. I'd be curious to see Spyre's accounting books and find out when the 25 dollar donations from fans started rolling in. Certainly a calculated gamble, but maybe not too far fetched. I'm glad the NCAA can't subpoena the books though.
The NCAA's beef with UT and Spyre seems to center around the fact that Nico signed with Spyre, then UT.
It's obvious Spyre is designed to fund NIL for UT, signing almost all athletes ALREADY COMMITTED to UT.
The NCAA thinks that with Nico UT had Spyre make the offer and that there was SOME kind of assurance Nico would sign at UT.
The NCAA, foolishly in this Wild West era, wants to "maintain that it doesn't allow pay-for-play" deals to go: schools pay first, then you sign. The NCAA prefers: you sign, then schools pay.
I get the NCAA's position. Legally, what good are they if schools can go out, have their collective offer money to a player and have some kind of agreement the player will then sign with their school? The NCAA is dead after the UT and VA lawsuit, IMO.
Unlike others, I don't want the NCAA to completely die. I can't imagine another organization being allowed to form which maintains any semblance of the "college football" game.
It's going to be EXTREMELY hard legally to keep players from being seen legally as employees and even harder without the NCAA taking all the lawsuits for the schools. It's going to be EXTREMELY hard legally to make an employee tasked with playing football take courses like Geology "for their own good."
The NCAA sucks. They screwed thousands of athletes by not planning ahead for this BUT they keep the ruse of college football as "student athletes." Without the NCAA, I don't think a new organization can legally form using that model. The Courts seem to consistently find it illegal.