College Athletics on the Brink of Collapse as Yankees President Demands Immediate Congressional Action

By Solange Reyner | Saturday, 29 August 2026 02:56 PM EDT

New York Yankees President Randy Levine warned that college athletics is on the brink of collapse and urged Congress to act this year to stabilize the system.

“We are where people have been warning we would be if no action took place,” Levine said in an interview. “That is really the decimation of the idea of a student athlete, to a transformation of college sports, principally football and men’s basketball, to become minor leagues for professional sports.”

Levine attributed the crisis to recent court rulings on athlete eligibility. “Bad, bad legal decisions have led to a one-year transfer pool, which is the equivalent of one-year free agency, which no professional sport has,” he said. “Students are entitled to be paid for their name, image and likeness, but there’s no uniform set of rules.”

The Protect College Sports Act, sponsored by Senators Maria Cantwell (D-Wash.), Ted Cruz (R-Texas), Eric Schmitt (R-Mo.) and Chris Coons (D-Del.), cleared the Senate Commerce Committee on a 19-9 vote in June. A floor vote stalled before the August recess, but supporters hope the Senate will consider the measure next month.

The bill would establish a five-year eligibility window beginning in the academic year after the earliest of an athlete’s enrollment in college, 19th birthday, high school graduation, or expected high school graduation. It also would allow one unrestricted transfer, with a second requiring the athlete to sit out a year unless an exception applies. The measure would establish federal NIL rights and add scholarship and health care protections.

“It doubles the revenue for name, image and likeness for college students,” Levine said. “One transfer in five years, eligibility that everybody knows and understands. No professional sports people coming back. You sign a contract, that’s it. You’re a pro.”

Levine stated that 360 universities, the NCAA, athletic conferences, and President Donald Trump have endorsed the measure. When the bill advanced in June, the Senate Commerce Committee reported public support from 267 colleges and universities and 24 athletic conferences.

The legislation would provide schools, conferences, and intercollegiate athletic associations with limited antitrust protection when enforcing specified rules governing eligibility, transfers, recruiting, compensation, and other issues.

Critics argue that this protection, combined with revenue caps and restrictions on transfers, would suppress what athletes and coaches can earn. They also claim provisions affecting conference membership and allowing collective media rights deals would reduce competition.

Levine emphasized schools cannot sustain current spending levels. “They’re taking endowment money that should go to furthering the education of students,” he said, adding that schools then raise student fees and cut Olympic and non-revenue sports. “If we don’t pass this legislation in this Congress, I’m fearful to say the whole situation may just implode.”

Levine serves as vice chair of the Saving College Sports Roundtable created by President Donald Trump.