Four years into NIL, coaches, agents reveal heartache and frustration of students’ big money chase

University of Miami hoops coach Jim Larranaga retired two months into the season .

NIL — the NCAA right that lets college athletes profit off their name, image and likeness — has essentially made college athletes free agents every year .

As a result, college sports has shifted into a pay-to-play system with few rules in place.

Texas quarterback Arch Manning is atop the NIL food chain with a valuation of $6.5 million .

Duke phenom Cooper Flagg , who declared for the NBA draft, is valued at $4.8 million .

While not many are reportedly making millions , there are significant payouts that come with few if any guardrails.

One frequent criticism of the current NIL system is the lack of transparency.

The NCAA House Settlement is the result of a class-action lawsuit brought against the NCAA and the country’s five biggest conferences.

Among them: awarding $2.7 billion in backpay to athletes, allowing schools to directly pay athletes.

Some athletic directors favor a collective bargaining structure that mimics the NBA and NFL .