FSU’s Collins opens up about ACC settlement, NIL guardrails, quest for AAU status

It has been nearly six months since Florida State reached a settlement with the Atlantic Coast Conference to resolve their dueling lawsuits, and the university’s top decision-maker believes the groundbreaking deal could be a blueprint for other conferences to follow.

Peter Collins, who is chair of Florida State’s Board of Trustees, answered questions in a Warchant virtual “Town Hall” for about an hour Monday evening, and he addressed a variety of topics related to the university’s athletics department. In his first extensive public comments since the ACC settlement was reached, Collins said he believes it was a win-win for the university and the rest of the conference.

“I feel really good about where we ended up,” Collins said. “I feel really good about where the ACC is today. I think the ACC created the mold for unequal revenue distribution. I think you’ll see that come in the future, maybe in some other conferences.”

Before the lawsuits between Florida State, Clemson and the ACC were settled, all member schools in the conference shared revenue from the league’s television contract equally. Now, as a result of the settlement, the schools that bring in the largest television ratings each year will receive a larger slice of the pie.

According to sources, that could mean up to an additional $20 million per year for schools like Florida State and Clemson, and smaller annual payouts for other schools.

“It took a lot of guts,” Collins said. “It took a lot of guts on a lot of people’s parts to do it. But I think it was the right thing to do, and I think the outcome that we got at the end of it was good for Florida State. But it was good for the ACC. And I think that’s why, ultimately, the ACC agreed to it.”

The other major concession from the ACC was to set up a formal structure by which schools could leave the conference before its long-term media rights deal with ESPN expires in 2036. Departing early would not be cheap; schools would be required to pay an exit fee of $165 million if they left in 2025-26 or $147 million one year later. That number would continue to decrease until it reaches $75 million in 2030.

While leaving early would come with a hefty price tag, the change was considered a significant win for Florida State, Clemson and any other ACC schools that might want to consider jumping to a conference with a more lucrative TV deal.

It was not a painless process, however. Florida State took barbs from many in the national media, and even some other college administrators, for going public with their dissatisfaction with the ACC. But Collins said FSU had no option but to go that route because of the state’s Sunshine Laws, which require government meetings to be held in public.

“I feel really good about where we are, and I feel good about the process and what we did,” he said. “If there’s one regret I have, like I said, it’s sort of like the very public nature in which we did it. But we really had no choice. And so to anyone we might have offended in that process, you know, apologies. But you’re going to have to sort of take it up with the Florida Legislature.”

While the most marketable ACC programs will reap the rewards from the settlement in the short term, Collins noted that it should provide motivation to other schools in the conference to devote more money and resources to football. Which could then lead to an improved product overall.

“Everybody should be incentivized to invest,” Collins said. “Everyvody should be incentivized to get better.”

The hope for real NIL guardrails

Along with conference realignment, the biggest transformation in college athletics in decades has been the ability for players to earn money through NIL deals and the recent NCAA-House settlement, which will allow schools to share more than $20 million per year with their athletes.

The opening of those avenues to pay players, along with the freedom of athletes to transfer to new schools every year, has led to an unfettered brand of free agency that has rocked virtually all college sports — from football to softball — with recruits and transfers often going to the highest bidder.

There is some hope that the House settlement, which puts restrictions on the types of NIL deals that will be permissible going forward, could help bring some normalcy back to the sport — especially if there is real enforcement from the newly formed College Sports Commission. But Collins acknowledged there is skepticism about how this is all going to work.

“Depends on the time of day and the day of the week,” he said with a laugh, when asked whether he is optimistic or pessimistic.

The Florida State Trustees Chair did say that he believes most, if not all, schools want some sort of guardrails in place so that college sports don’t get overrun by a few schools with the richest donors.

“That’s what we don’t want college football to become, right?” Collins said. “Where there’s 10 schools out there that, for all intents and purposes, are going to be the only 10 schools that can compete. … Every school wants to know where the banks of the river are and to know that people that go outside of the banks of the river are going to get penalized. …

“I think the structure is good. I hope it works. I’m praying for it all to work, and I hope that there is significant teeth [to the rules] that if people step out of the banks of the river that they get penalized.”

Collins said he empathizes with fans who are frustrated by the direction of college sports in recent years, and he shares the concern that if things don’t improve, it could ultimately affect fan interest and the viability of the industry.

“Yes, I’m concerned about that, and I think everybody shares that concern,” Collins said. “At the heart of it, we all love the competition. We all love the rivalries. But it’s hard to walk into a rivalry that you’ve loved for two decades knowing that you have no chance of winning. And that’s when it dies in my opinion.”

AAU status in sight?

Florida State officials have been working for years to raise the university’s academic profile, which has led to improved standings in national rankings and other metrics. But for all of their efforts, one honor that has eluded them so far has been membership in the prestigious Association of American Universities (AAU).

The University of Florida earned that distinction in 1985, while in-state schools USF and Miami also were selected in recent years.

Because AAU status is believed to be highly coveted by officials with the Big Ten Conference, many Florida State fans have become interested in the Seminoles’ efforts to meet that standard. They at least would like that door to be open when FSU eventually looks to leave the ACC for greener pastures.

When asked about that topic, Collins said the only thing holding Florida State back in the past was a lack of research dollars generated by the university. But he said that has been a primary focus of university President Richard McCullough and many members of his staff.

“The numbers aren’t official this year, but we’re touching on $500 million of research expenditures in this last year,” Collins said. “We’re getting really close, even with some cuts from the federal government.”

The Florida State Trustees Chair pointed out that the university is partnering with Tallahassee Memorial Healthcare to build a medical campus in Panama City, and the university also is working on a new nursing school, among other science-related projects.

“As a university and as an administration, we’re laser focused on research, and really that’s the only thing holding us back — the level of our research expenditures,” Collins said. “So we’re focused on that. You can make the argument today that Florida State has the merit to be in the AAU. But it’ll happen when it happens.

“How close we are, I don’t know. Like I said, I could make a strong case to the AAU people that we belong today. But I would say certainly within probably the next two or three years, people would be hard-pressed to say that we don’t belong in the AAU.”

SIGN UP: Join Warchant’s FSU Community for $1 today

Talk about this story with other die-hard Florida State football fans on the Tribal Council.