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Daniel Poneman

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@DanielPoneman

Founder, Servant, Teacher, Student, Friend, Agent, @WEAVE đŸ§¶
Chicago, IL instagram.com/danielponeman Joined July 2009
12K Following 21K Followers 46K Posts

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Daniel Poneman Verified account @DanielPoneman
$300m they could’ve paid the athletes, instead of paying lawyers to fight for them to not have to pay the athletes.
Daniel Libit Verified account @DanielLibit Jun 26
NEWS: The @NCAA’s latest tax return shows it spent $63.5 million on legal fees in FY25, bringing 5-yr. spending to nearly $300 million.

(@WSTrialLaw got $19.6M!)

NCAA also spent $372.4M in FY25 legal settlements apart from House.

More for @Sportico 👇

sportico.com/leagues/colleg

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Daniel Poneman Verified account @DanielPoneman
“We’ve all seen many of the criticisms of NIL. People say ‘you’re giving these young guys all this money, they’re going to blow it. They don’t know what to do with it. They’re just going to waste it.’

We want to be the ones who buck that trend. We want to be the ones where they say, ‘no, you can’t say that about WEAVE guys
 we don’t blow our money. We save our money. We invest our money. We make our money work for us.” @WEAVE
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Daniel Poneman Verified account @DanielPoneman
We can all agree the Sorsby/Texas Tech situation is an unfortunate byproduct of an imperfect system.

What we don't agree on is how to fix it.

Even if Congress passes NCAA legislation, it will only be a temporary band-aid. More lawsuits will follow. New loopholes will emerge. The boundaries will continue to be pushed.

The reality is that major college football and basketball are professional sports. The athletes generating billions in revenue should be recognized as employees and afforded the rights that come with that status.

Every major professional league—the NBA, NFL, MLB, NHL, MLS, and WNBA—operates through collective bargaining between the league and its players' union. Together, they establish the rules, regulations, enforcement mechanisms, and dispute-resolution processes that govern the sport. When circumstances change, they return to the bargaining table and adapt.

Until college athletes have those same rights, the litigation will continue and the system will remain unstable.

Congressional intervention may delay the reckoning, but it won't prevent it. Employment status, unionization, and collective bargaining aren't radical ideas, they're the inevitable destination.

The sooner we start building that framework together, the sooner we can create a sustainable system for everyone involved.