The world of college athletics is facing a crisis. Ongoing abuse of the transfer portal, the evolution of NIL deals into pay-for-play schemes and a wave of conference realignments have reshaped college sports — and the frustration among fans is palpable. Some wonder whether the American pastime they love is disappearing.

But frustration alone isn’t enough reason to hand Washington the keys to one of our most commercially successful entertainment markets. Unfortunately, that’s exactly what our Republican-controlled Senate — with Sen. Ted Cruz (R-Texas) at the helm — is proposing with the Protect College Sports Act (PCSA). That piece of legislation, which is heading to the full Senate, aims to impose federal standards on college athletics by updating athlete transfer and eligibility rules, restructuring NIL rights around a centralized framework, pooling media rights and introducing various antitrust protections.

To say this proposal would do more harm than good is an understatement. It has the potential to make college sports’ current problems appear small by comparison, imposing significant costs on stakeholders and taxpayers and potentially jeopardizing an entertainment juggernaut that generates tens of billions in revenue annually, rivaling the country’s major professional leagues.

Americans should exercise skepticism anytime someone suggests that governments can allocate resources or provide better economic........

© Sports Business Journal