Destin, Fla. -- With expenses going up following the agreed upon $2.8 billion House v. NCAA lawsuit settlement, it's only natural for schools to look for new revenue opportunities to meet the rising costs.
One potential source that could be available soon is field/court naming rights and sponsored jersey patches, according to one Southeastern Conference athletic director.
"I believe the NCAA is going to allow us to put a sponsored logo on the field during the regular season," Florida athletic director Scott Stricklin said. "That's an obvious revenue stream we have not had in the past. Pro sports are putting patches on jerseys. That doesn't seem like something that's crazy for us to consider."
The NCAA heavily restricts the use of commercial logos on fields, but a June 6 NCAA committee meeting "could change some of those restrictions," USA Today reports.
Stricklin also pointed to fantasy sports as a huge driver of interest for professional sports. He believes college sports should consider fantasy sports licensed with player names in which players and schools each receive a cut.
Athletic departments are grappling with an expected $22 million annual revenue share cost -- likely to go into effect in August 2025 -- as part of the House settlement terms. In the NBA, a sponsored jersey patch alone can be worth tens of millions annually.
Alabama athletic director Greg Byrne said Wednesday at the SEC's annual spring meetings that schools will "have to be open-minded" about new revenue possibilities but didn't foresee sponsored jersey patches coming to the football program's iconic crimson jerseys anytime soon.
"We're pretty traditional," Byrne said. "It's cool that Alabama doesn't change their jerseys. We're unique in that way now. You never say never but we're fairly conservative when it comes to how we do anything like that."
