It's a Wild West scenario. There is no protection for the school or the athlete. There have to be penalties, consequences, and safety nets for schools and athletes. If a coach left the school they were at, they would have to pay a buyout penalty. Now, the school they are heading to will most likely pay that, but it's still protection for the school they are leaving.

There are also no contracts, these are handshake deals... a player could be promised a certain pay at the beginning of the year and not even get even a quarter of what they were promised by the end of the year.