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Connecting the Dots: From Custodian Interview to the Review Platform
December 11, 2025 | 12:00 PM – 1:00 PM ET
Cal Stein, partner with Troutman Pepper Locke, host of the Highway to NIL podcast, and editor of the NIL Revolution blog, was quoted in the June 10, 2025 Bloomberg Tax article, “NCAA’s Legal Risks Endure Despite $2.8 Billion NIL Settlement.”
The deal removes a huge headache for the NCAA, in that the claims of a huge consolidated class action fall by the wayside, and, for the first time, a system will exist in which schools can pay athletes directly. But the settlement won’t insulate the NCAA from antitrust challenges alleging anticompetitive practices, said Cal Stein, litigation partner with Troutman Pepper Locke.
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“I don’t think it’s a silver bullet,” Stein said of the settlement. “The NCAA saw the writing on the wall. They needed to get out of the way of this freight train, and they managed to do it on terms that they can live with. But it’s very clear to me that there is going to be continued litigation.”
Push for Legislation
Another sign that the NCAA expects legal trouble: NCAA President Charlie Baker made another appeal to Congress for college sports legislation even as he praised the settlement approval.
“You wouldn’t be doing that if you didn’t have fear of this new system being subject to challenges and legal difficulties,” Stein said.
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