“We believe the collegiate model is worth defending,” Rice said. “What’s the value proposition between the student-athlete and the university? When the basketball player goes out and generates, through team play, extraordinary revenues, which then produce high salaries for coaches — I understand all that. But the value proposition from our point of view is that you are engaging in an activity that is going to give you a lifetime value proposition in the form of a college degree.

“If you have a real college degree — and I emphasize real — your earning power is a million dollars greater than a non-college graduate. Students you are going to school with who are not athletes are taking down loans, working 20 hours a week, their parents are scrounging for money to get the same thing you’re getting for free for playing a sport you love. You’re also getting the best training, the best coaching and the best health care, nutrition, academic support. That’s a good value proposition.”