University of Iowa Director of Athletics Beth Goetz announced the creation of a new “Flight Funds” program Tuesday that will allow Hawkeye fans to donate to the student athlete revenue sharing program that Hawkeye athletics must set up as a condition of their participation in the House settlement.
The House settlement, which was finalized by a federal judge on June 6, is named after plaintiff and former Arizona State swimmer Grant House. The settlement agreement, which goes into effect July 1, required the NCAA to pay $2.8 billion in back pay to student athletes that have participated in collegiate sports since 2016.
The agreement also allowed schools to opt to pay their current athletes with a revenue-sharing model that allows schools to pay their athletes directly for playing in their sport. The settlement also allows the NCAA to limit schools’ name, image, and likeness funds used to recruit athletes.
The settlement has shaken the foundation of collegiate sports — which was founded in amateurism — making way for a new era of college sports where schools will be competing to recruit athletes using direct payments and NIL deals to sweeten their traditional scholarship offers.
UI athletics has created the “Flight Funds” program which allows Hawkeye fans to donate to help the UI attract and keep talent in the new age of college athletics.
There will be designated funds for football, men’s and women’s basketball, men’s wrestling, and a general “Flight Fund” to help attract talent in other UI athletics programs.
Donations to the fund are tax deductible, according to UI athletics, and contributions to the fund will count towards athletic ticket priority points but not towards I-Club seating or parking requirements.
To generate revenue UI athletics will also be expanding its corporate sponsorships to increase sponsorship revenue and create NIL opportunities for all student athletes. UI athletics will also look to create unique access opportunities for fans to meet with college athletes behind the scenes.
RELATED: Q&A | Beth Goetz discusses House settlement, implications for Hawkeye sports
Goetz wrote that these new programs are aimed at enhancing UI athletics’ financial stability and will help the program embrace the new era of college athletics.
“We are eager to embrace the new era of opportunity for Iowa Athletics and are committed to participating at the maximum revenue-sharing level,” Goetz wrote in a newsletter to Hawkeye fans Tuesday. “By expanding our revenue generation opportunities — including the Flight Funds — we are not only enhancing our financial stability but also reinforcing our commitment to the well-being and success of our student-athletes.”
The UI has also retained a new team of designated general managers for each sport to help run the programs and oversee the revenue sharing model.
The program will be headed by Marcus Wilson, who will be the executive senior athletics director for cap management & administration, and Scott Brickman, the department’s general manager for NIL and strategy through a partnership with Altius Sports Partners, the pair will review and approve all revenue sharing agreements.
The UI has also retained Scott Pioli, a former NFL general manager and front office executive with a quarter-century of experience, last fall in preparation for revenue sharing.