Senate advances college sports bill aimed at regulating NIL deals

Sen. Ted Cruz, R-Texas, speaks during a news conference at the U.S. Capitol on May 9, 2024 in Washington, D.C.Chip Somodevilla | Getty Images News | Getty ImagesThe Senate on Monday voted 77-22 in favor of a bill to create a national framework for name, image and likeness deals in college sports as one of its last acts before the chamber gears up to leave town later this week ahead of the 2026 midterm election.The legislation, which would codify athletes' rights to earn NIL money and grant the NCAA, conferences and schools a controversial antitrust exemption to enforce certain rules, is the latest step in a multi-year effort to regulate money in college sports. Sens. Ted Cruz, R-Texas, and Maria Cantwell, D-Wash., the top Republican and Democrat on the Senate commerce committee, led the bill, dubbed the Protect College Sports Act. It now passes to the House, where its fate remains uncertain amid opposition from the Congressional Black Caucus and outside groups, including the NAACP.President Donald Trump called the bill's passage a "really big deal" in a Truth Social post. "It will not only save college sports, it will save the colleges themselves," Trump said.Read more CNBC politic...