Welcome Back Ed Kull!

Dear Johnnie Nation,

College athletics has officially entered a new era. On June 6, the landmark case House v. NCAA settlement was granted final approval paving the way for a new operating framework to support new benefits available to student-athletes. These changes to college athletics will be effective starting on July 1, 2025.

What will change on July 1?
Institutional Revenue Sharing
For the first time, institutions may directly compensate student-athletes up to an established national cap of approximately $20.5 million for the 2025-26 academic year.

At St. John’s, funding revenue sharing opportunites will be primarily focused on our Men’s and Women’s Basketball programs. This will be an integral part of recruiting and retaining players moving forward in order to remain competitive within the BIG EAST and nationally.

Starting today, St. John’s University will be accepting direct contributions in support of our revenue sharing efforts through our Red Storm Legacy Investment Fund here.

Donor contributions in support of revenue sharing through the Red Storm Legacy Investment Fund will qualify for existing Red White Club giving levels and subsequent benefits as well as eligible for tax deductions as any gift to St. John’s University, a 501(c)(3) non-profit.

Also, we will actively be looking for other ways to maximize revenues through ticketing, sponsorship, and other initiatives.

Roster Limits and Scholarships
New roster limits will replace the historically-used NCAA scholarship equivalences. These changes will be introduced and phased in by sport, which may result in adjustments to team roster sizes.

NIL Back Damages
The House vs. NCAA settlement includes $2.8 billion in payments to former college athletes for lost NIL opportunities and additional compensation. The Power 5 conferences will be responsible for 60 percent of the back damages, with the NCAA and the remaining Division I schools covering the other 40 percent. All student-athletes who were a part of NCAA rosters from June 2016 to 2024 are eligible for this retroactive NIL compensation.

How can fans help our programs remain competitive?
Support our Olympic sports
While direct institutional revenue sharing will focus primarily on Men’s and Women’s Basketball, all sports can still benefit from your financial support. You can click here to make a donation directly to your program of choice. We are committed to giving our student-athletes the support that is needed to succeed in the evolving landscape of NIL. We have invested and will continue to invest in comprehensive education and professional development tools.

The settlement also allows student-athletes to continue to enter into third-party NIL agreements with businesses and collectives. A national clearinghouse has been established to monitor and evaluate these agreements for validity and fair market value. Supporters of St. John’s athletics can visit theOpendorse marketplace to initiate conversations with a student-athlete of your choice.

Purchase Season Tickets
As always, we need our fans and students to fill the stands at Carnesecca Arena and Madison Square Garden. New season ticket deposits for the 2025-26 Men’s Basketball campaign are open now and you can place a deposit here.

As we begin to navigate this new era of college athletics, we will not change our commitment to our student-athletes. While there remains great uncertainty in the landscape of college athletics, we will make the decisions that are necessary to ensure we continue to compete at the championship level.

As always, we are so grateful for all your support for St. John’s Athletics.

Go Johnnies!

Ed Kull
 
paultzman said:
Dear Johnnie Nation,

College athletics has officially entered a new era. On June 6, the landmark case House v. NCAA settlement was granted final approval paving the way for a new operating framework to support new benefits available to student-athletes. These changes to college athletics will be effective starting on July 1, 2025.

What will change on July 1?
Institutional Revenue Sharing
For the first time, institutions may directly compensate student-athletes up to an established national cap of approximately $20.5 million for the 2025-26 academic year.

At St. John’s, funding revenue sharing opportunites will be primarily focused on our Men’s and Women’s Basketball programs. This will be an integral part of recruiting and retaining players moving forward in order to remain competitive within the BIG EAST and nationally.

Starting today, St. John’s University will be accepting direct contributions in support of our revenue sharing efforts through our Red Storm Legacy Investment Fund here.

Donor contributions in support of revenue sharing through the Red Storm Legacy Investment Fund will qualify for existing Red White Club giving levels and subsequent benefits as well as eligible for tax deductions as any gift to St. John’s University, a 501(c)(3) non-profit.

Also, we will actively be looking for other ways to maximize revenues through ticketing, sponsorship, and other initiatives.

Roster Limits and Scholarships
New roster limits will replace the historically-used NCAA scholarship equivalences. These changes will be introduced and phased in by sport, which may result in adjustments to team roster sizes.

NIL Back Damages
The House vs. NCAA settlement includes $2.8 billion in payments to former college athletes for lost NIL opportunities and additional compensation. The Power 5 conferences will be responsible for 60 percent of the back damages, with the NCAA and the remaining Division I schools covering the other 40 percent. All student-athletes who were a part of NCAA rosters from June 2016 to 2024 are eligible for this retroactive NIL compensation.

How can fans help our programs remain competitive?
Support our Olympic sports
While direct institutional revenue sharing will focus primarily on Men’s and Women’s Basketball, all sports can still benefit from your financial support. You can click here to make a donation directly to your program of choice. We are committed to giving our student-athletes the support that is needed to succeed in the evolving landscape of NIL. We have invested and will continue to invest in comprehensive education and professional development tools.

The settlement also allows student-athletes to continue to enter into third-party NIL agreements with businesses and collectives. A national clearinghouse has been established to monitor and evaluate these agreements for validity and fair market value. Supporters of St. John’s athletics can visit theOpendorse marketplace to initiate conversations with a student-athlete of your choice.

Purchase Season Tickets
As always, we need our fans and students to fill the stands at Carnesecca Arena and Madison Square Garden. New season ticket deposits for the 2025-26 Men’s Basketball campaign are open now and you can place a deposit here.

As we begin to navigate this new era of college athletics, we will not change our commitment to our student-athletes. While there remains great uncertainty in the landscape of college athletics, we will make the decisions that are necessary to ensure we continue to compete at the championship level.

As always, we are so grateful for all your support for St. John’s Athletics.

Go Johnnies!

Ed Kull
Click to expand...
For those asking, yes contributions to the Legacy Fund will contribute to your priority points.
 
SJUDave said:
For those asking, yes contributions to the Legacy Fund will contribute to your priority points.
Click to expand...
PSA: Kull says in his email that contributions to the Legacy Fund by individuals are tax deductible. If this is true, then it no longer makes sense for any individual who itemizes their deductions to donate to any of the NIL efforts from Storm Marketing, Flat Top, etc., which are not tax deductible.
 
Redenbacher said:
PSA: Kull says in his email that contributions to the Legacy Fund by individuals are tax deductible. If this is true, then it no longer makes sense for any individual who itemizes their deductions to donate to any of the NIL efforts from Storm Marketing, Flat Top, etc., which are not tax deductible.
Click to expand...
Correct. I received an email from Flat Top that they are still in business but it's things are evolving.
 
jetstorm said:
So are flat top and other Nil’s in addition to the 20.5 mill the university can spend??
Click to expand...
Yes. One has nothing to do with the other.

Under the Settlement any NIL deal over a certain dollar amount has to be cleared through a clearing house (DeLoitte?)
 
SJU85 said:
Yes. One has nothing to do with the other.

Under the Settlement any NIL deal over a certain dollar amount has to be cleared through a clearing house (DeLoitte?)
Click to expand...
I think you're right but it's interesting that any payment over $600 has to be vetted as to its fair market value. Seems to me that implies that they're trying to go back to the original intent of NIL, i.e., the recipient needs to have performed some act in return, like signing autographs at a restaurant, promoting a store, etc.
 
fan since 65 said:
I think you're right but it's interesting that any payment over $600 has to be vetted as to its fair market value. Seems to me that implies that they're trying to go back to the original intent of NIL, i.e., the recipient needs to have performed some act in return, like signing autographs at a restaurant, promoting a store, etc.
Click to expand...
The goal is clearly that the sole or near sole source of college athlete payment should be through the school. Some may be able to make additional money through endorsement deals but IMO people who want to contribute should be doing so through the school. Whether that is Red/White, Legacy, McLoughlin, whatever.

But then I was never particularly high on the collectives as a means of contributing, so I have a preexisting bias there.
 
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