From a recent NCAA Q&A on the House settlement (mentions arbitration for challenges to fair-market valuse assessments)
Question No. 31: How and when will a student-athletes’ third-party NIL deals be subject to the fair-market-value assessment contemplated by the settlement?
Answer: All Division I student-athletes will be required to report third-party NIL deals worth $600 or more, whether or not their institution opts in to the settlement. All agreements with associated entities and associated individuals with payments occurring after July 1, 2025, will be subject to the fair-market-value assessment contemplated by the settlement. Also, all new agreements with associated entities and associated individuals executed after settlement approval (which could occur any time after April 7, 2025) will be subject to a fair-market-value review. In addition, if there is a challenge to determinations related to fair-market-value, third-party arbitrators approved by the plaintiffs, the defendant conferences and the NCAA will render a decision.
NCAA Question 34 says that Deloitte is developing the NIL fair market value platform:
Question No. 34: When will the technology behind the cap-reporting and NIL fair-market-value platforms be developed? Answer: The defendant conferences have reached agreement with vendors who will develop, test and provide appropriate training for the platforms. LBi has been selected as the vendor for the cap reporting platform and Deloitte has been selected for the NIL fair market value platform. The defendant conferences will be responsible for the build-out of the cap-reporting system and related enforcement of complying with the cap. The defendant conferences also are responsible for overseeing the administration of the fair-market-value system. Schools should not contact vendors directly with questions at this time. More information will be forthcoming about the development of both platforms.
Question No. 31: How and when will a student-athletes’ third-party NIL deals be subject to the fair-market-value assessment contemplated by the settlement?
Answer: All Division I student-athletes will be required to report third-party NIL deals worth $600 or more, whether or not their institution opts in to the settlement. All agreements with associated entities and associated individuals with payments occurring after July 1, 2025, will be subject to the fair-market-value assessment contemplated by the settlement. Also, all new agreements with associated entities and associated individuals executed after settlement approval (which could occur any time after April 7, 2025) will be subject to a fair-market-value review. In addition, if there is a challenge to determinations related to fair-market-value, third-party arbitrators approved by the plaintiffs, the defendant conferences and the NCAA will render a decision.
NCAA Question 34 says that Deloitte is developing the NIL fair market value platform:
Question No. 34: When will the technology behind the cap-reporting and NIL fair-market-value platforms be developed? Answer: The defendant conferences have reached agreement with vendors who will develop, test and provide appropriate training for the platforms. LBi has been selected as the vendor for the cap reporting platform and Deloitte has been selected for the NIL fair market value platform. The defendant conferences will be responsible for the build-out of the cap-reporting system and related enforcement of complying with the cap. The defendant conferences also are responsible for overseeing the administration of the fair-market-value system. Schools should not contact vendors directly with questions at this time. More information will be forthcoming about the development of both platforms.