College Athletes as Enterprise: NIL Deals, Revenue Sharing, and Post-House NCAA Enforcement

Callan G. Stein, Partner | Troutman Pepper Locke

Callan G. Stein is a partner at Troutman Pepper Locke whose practice focuses on complex litigation, investigations, and regulatory matters. He represents businesses and individuals in civil litigation, white-collar criminal matters, corporate disputes, and internal investigations across multiple industries. Stein’s work also includes advising higher education institutions on issues involving collegiate athletics and compliance with name, image, and likeness (NIL) regulations. His experience spans matters involving health care litigation, corporate and commercial disputes, and RICO actions, and he regularly provides strategic guidance to clients navigating regulatory scrutiny and high-stakes litigation.

• Education & Credentials

Callan G. Stein earned his Juris Doctor from Boston University School of Law in 2007 after completing his undergraduate studies at Brandeis University, where he received a B.A., cum laude, in 2004. He is admitted to practice in Massachusetts and Rhode Island and before several federal courts, including the U.S. District Court for the District of Massachusetts and the District of Rhode Island, as well as the U.S. Courts of Appeals for the First, Ninth, and Eleventh Circuits.

• Recognition & Leadership

Stein has been recognized by peers in the legal profession for his work in civil litigation. He has been selected to Super Lawyers from 2023 through 2025, a distinction based on peer recognition and professional achievement in legal practice. His litigation work has also been acknowledged in legal industry commentary highlighting successful outcomes in complex matters, reflecting his role in high-stakes defense litigation and investigations.

• Professional Involvement

Stein is actively involved in professional legal organizations and industry education initiatives. He is a member of the Boston Bar Association, Massachusetts Bar Association, and the American Health Lawyers Association. In addition, he serves as a faculty member for the National Institute for Trial Advocacy (NITA), contributing to trial advocacy education and training for practicing attorneys.

• Experience

Stein maintains a broad litigation and investigations practice that includes representing clients in white-collar criminal matters, civil RICO actions, commercial litigation, and internal corporate investigations. His work frequently involves advising clients in regulated industries, particularly health care and higher education, where he assists institutions with compliance issues and regulatory risk. He also counsels colleges and universities on legal issues surrounding collegiate athletics, including NIL rights and regulatory compliance. Through this practice, Stein provides strategic guidance on managing litigation exposure and regulatory enforcement in complex, high-stakes matters.

Michael S. Lowe, Partner | Troutman Pepper Locke

Michael S. Lowe is a partner at Troutman Pepper Locke and a first-chair trial attorney with extensive experience handling complex litigation, government investigations, and regulatory enforcement matters. A former federal prosecutor with nearly 25 years of experience, he has tried more than 20 federal jury trials to verdict and represents clients in high-stakes disputes involving pharmaceutical, medical device, financial services, securities, cryptocurrency, and name, image, and likeness (NIL) issues. Lowe regularly advises companies facing federal and state investigations, civil False Claims Act litigation, and regulatory enforcement actions. He also works with higher education institutions and athletic organizations on NIL compliance and policy issues, including matters related to the House antitrust litigation and evolving NCAA rules governing athlete compensation.

• Education & Credentials

Michael S. Lowe earned his Juris Doctor from New York University School of Law and received his bachelor’s degree from Wesleyan University. He is admitted to practice law and has built a career that includes both public service as a federal prosecutor and private practice advising clients in complex litigation and government investigations.

• Recognition & Leadership

Lowe is recognized for his trial experience and leadership in complex investigations and enforcement matters. His career as a federal prosecutor and trial attorney has included extensive courtroom experience, including more than 20 federal jury trials to verdict. His work in enforcement, regulatory defense, and complex litigation positions him as a resource for clients confronting high-stakes disputes involving government agencies and regulatory authorities.

• Professional Involvement

In addition to his litigation practice, Lowe contributes to legal thought leadership and professional education in areas such as government enforcement, financial crimes, and the evolving legal framework surrounding NIL in college athletics. He frequently writes, speaks, and presents on developments involving regulatory investigations, enforcement trends, and the changing legal landscape of college sports compensation and compliance.

• Experience

Lowe’s practice focuses on defending clients in complex litigation and regulatory enforcement matters involving federal agencies such as the Department of Justice, the Securities and Exchange Commission, and the Federal Trade Commission, as well as state attorneys general. He represents companies in products liability and class action litigation, government investigations, and civil False Claims Act cases. In the college athletics space, he advises NCAA conferences and universities on NIL compliance and policy issues, including matters connected to the settlement of the House antitrust litigation and investigations involving potential NIL violations.

Christopher M. Brolley, Associate | Troutman Pepper Locke

Christopher M. Brolley is an attorney with Troutman Pepper Locke whose practice focuses on complex litigation and regulatory matters across several industries. His work includes representing pharmaceutical, medical device, agricultural, and manufacturing companies in mass tort, personal injury, and wrongful death litigation in federal and state courts across the United States. In addition to product liability matters, he handles disputes involving breach of contract and corporate governance. Brolley also advises colleges and universities on compliance with name, image, and likeness (NIL) rules, including navigating state NIL laws, NCAA bylaws, and related regulatory guidance. He regularly develops strategies to mitigate enforcement risk and contributes to thought leadership in the evolving NIL legal landscape through publications and podcast commentary.

• Education & Credentials

Christopher M. Brolley earned his law degree from Villanova University School of Law and was admitted to practice law in 2016. During law school, he served as a judicial extern to the Honorable Mark A. Kearney of the U.S. District Court for the Eastern District of Pennsylvania.

• Recognition & Leadership

Brolley has been recognized for his professional achievements and leadership within the legal profession. He was selected as a Rising Stars honoree for 2025–2026, a distinction awarded to a limited number of attorneys based on peer recognition and professional accomplishment. He was also selected for the American Bar Association Tort Trial and Insurance Practice Section Leadership Academy (2023–2024), a national program that identifies emerging leaders within the civil litigation and insurance bar.

• Professional Involvement

Brolley maintains active involvement in professional legal organizations, particularly through the American Bar Association. His roles include serving as Vice-Chair of the Products Liability General Committee and participating on the Leadership Academy Task Force, Section Conference Standing Committee, and Long Range Planning Standing Committee for the ABA Tort Trial and Insurance Practice Section. These roles reflect his engagement in leadership initiatives and policy discussions affecting civil litigation practice.

• Experience

Brolley’s litigation practice includes representing major corporate clients in complex product liability and mass tort matters. His experience includes defending multinational chemical and pharmaceutical companies in high-stakes litigation pending in forums such as Philadelphia County’s Mass Tort Program and multidistrict litigation proceedings in federal court. In addition to his litigation work, he advises higher education institutions on NIL compliance issues, including permissible athlete compensation arrangements and strategies for navigating NCAA and state regulatory requirements. Brolley also maintains an active pro bono practice, representing veterans seeking benefits from the Department of Veterans Affairs and working with the National Veterans Legal Services Program, as well as clients connected to the Mid-Atlantic Innocence Project.

Mike Ingersoll, Of Counsel | Womble Bond Dickinson

Mike Ingersoll is an attorney in the Charlotte office of Womble Bond Dickinson whose practice focuses on complex business litigation and sports-related legal matters, particularly name, image, and likeness (NIL). He represents athletes, universities, businesses, collectives, and agencies in matters involving NIL agreements and regulatory issues at both the collegiate and high school levels. Ingersoll is also experienced in high-stakes litigation and investigations, including class action defense, trade secret disputes, shareholder litigation, and internal investigations. A former college and professional athlete, he brings a unique perspective to sports law and NIL matters and is frequently sought nationally for his experience in the evolving athlete compensation landscape.

• Education & Credentials

Mike Ingersoll earned his Juris Doctor from the University of North Carolina School of Law, where he was named to the Dean’s List. He received his Bachelor of Arts from the University of North Carolina, studying interpersonal and organizational communication as well as exercise and sport science. During his undergraduate career, he was a four-year varsity football letterman, served as team captain, and earned honors including Academic All-ACC, selection to the ESPN All-Bowl Team, and the Bill Dooley/Triangle East Chapter Scholar Athlete Award.

• Recognition & Leadership

Ingersoll has been recognized for his work in litigation and sports law, including being selected to Super Lawyers Rising Stars from 2024 through 2026, an honor awarded to a limited percentage of attorneys based on peer recognition and professional accomplishment. His legal work in sports and NIL matters has also positioned him as a nationally recognized practitioner in this emerging field, frequently consulted for matters involving athlete compensation and NIL disputes.

• Professional Involvement

In addition to his legal practice, Ingersoll serves in leadership roles in several sports and community organizations. He sits on the board of directors for the Charlotte chapter of the NFLPA Retired Players division, the Charlotte Touchdown Club, and the Board of Advisors for the NIL Prep Foundation, organizations focused on athlete development, professional networking, and education related to NIL opportunities and athlete representation.

• Experience

Ingersoll represents a broad range of clients in complex litigation and regulatory matters across multiple industries. His experience includes defending high-profile matters such as a major criminal tax prosecution involving conservation easements brought by the U.S. Department of Justice, as well as representing clients in NFL-related congressional investigations. He has litigated disputes for corporations, small businesses, medical practices, educational institutions, professional athletes, and government entities in state and federal courts and in arbitration forums including the American Arbitration Association and the International Centre for Dispute Resolution. Prior to entering private practice, he worked with judges of the North Carolina Business Court, gaining experience in complex commercial litigation and judicial decision-making.

Jason J. Montgomery, Partner | Husch Blackwell LLP

Jason J. Montgomery is a partner at Husch Blackwell who represents colleges, universities, and student-athletes nationwide in matters involving NCAA enforcement, eligibility, compliance, and athletics regulation. A former NCAA investigator, he brings more than 20 years of experience across collegiate athletics governance, including roles at the NCAA national office, within a Division I athletics department, and in private practice. Montgomery advises clients on complex legal and regulatory issues affecting college athletics programs, including name, image, and likeness (NIL), Title IX compliance, enforcement investigations, and athletics governance matters. His experience across regulatory and institutional environments allows him to guide clients through NCAA processes and develop proactive compliance strategies while effectively managing disputes and investigations.

• Education & Credentials

Jason J. Montgomery earned his Juris Doctor from the University of Kansas School of Law and received his Bachelor of Arts, cum laude, from Baker University. He is admitted to practice in Kansas and Missouri, as well as before the U.S. District Court for the District of Kansas.

• Recognition & Leadership

Montgomery has been recognized for his work in higher education and collegiate athletics law. He is listed in The Legal 500 United States (2025) as a recommended lawyer in the Education category, reflecting recognition of his experience advising institutions and athletics programs on regulatory and compliance matters in college sports.

• Professional Involvement

Montgomery maintains active involvement in professional organizations related to higher education and sports law. He is a member of The Missouri Bar, the National Association of College and University Attorneys (NACUA), and the Sports Lawyers Association, organizations that focus on legal issues affecting universities, athletics programs, and the broader sports industry.

• Experience

Montgomery advises NCAA member institutions, athletics conferences, and student-athletes on a wide range of collegiate athletics matters. His experience includes representing universities in NCAA enforcement proceedings, guiding institutions through compliance reviews and infractions investigations, and advising on NIL arrangements, amateurism determinations, and eligibility disputes. He has also conducted independent investigations into athletics program conduct, reviewed institutional compliance systems, and represented athletes in NCAA waiver and reinstatement processes. Earlier in his career, he served within the NCAA national office as an investigator and regulatory staff member and worked as a compliance administrator at a Division I athletics program, experience that informs his ability to counsel clients navigating the complex NCAA regulatory environment.

I. The Post-House Operating System: What Changed, What’s Unsettled, and Likely Upcoming Enforcement Action | 1:00pm – 2:00pm

This session maps the post-House v. NCAA operating environment and what it practically means for schools, athletes, and counsel as revenue-sharing moves from concept to contract. The session will translate the settlement’s new structural realities into actionable guidance, how revenue-sharing pool mechanics create cap pressure, scholarship tradeoffs, and compensation-mix decisions that must be reflected in renegotiation, modification, and dispute-trigger provisions, while flagging what remains unsettled and therefore litigation-prone. The speakers will also assess the most predictable flashpoints on the horizon (antitrust and restraint-of-trade theories, Title IX challenges, and athlete employment-status litigation), and how these risks intersect with eligibility disputes (JUCO pathways, medical waivers), transfer-portal dynamics, and roster limits. Finally, the module will evaluate the College Sports Commission’s role in the year since House was finalized, including the expansion of enforcement capacity and what enforcement priorities may signal for near-term investigations, compliance strategy, and risk management, especially for resource-constrained programs competing in an accelerating Division I arms race.

This session shows how revenue-sharing pool mechanics create cap pressure, scholarship tradeoffs, and compensation-mix decisions that must be built into contracts through clear renegotiation and dispute provisions, especially as the Division I arms race strains smaller programs. It also reviews the College Sports Commission’s strengthened enforcement capacity since the House settlement and what that means for compliance risk. Finally, it ties emerging litigation pressures (employee-status and Title IX claims) to practical eligibility issues, transfer-portal dynamics, and roster limits.

Break | 2:00pm – 2:10pm

II. NIL Deals Under Pressure: Drafting Defensible Agreements and Managing Disputes When Things Go Sideways | 2:10pm – 3:10pm

As NIL and revenue-sharing arrangements face heightened oversight and fast-evolving rules, the risk profile of these deals increasingly depends on two things: Whether the contract is built to withstand scrutiny on the front end, and whether counsel can execute a disciplined response when performance, valuation, or reputational issues trigger a dispute. This session bridges deal architecture and enforcement strategy. It covers the clause-level choices, documentation practices, and compliance guardrails that make an agreement defensible, as well as the pre-litigation playbook that positions clients for fast, strategic resolution when conflict escalates.

This session focuses on drafting NIL and revenue-sharing agreements that hold up as oversight increases, highlighting the clauses and negotiation positions that most affect defensibility. It explains how to support fair market value and document deliverables to reduce “pay-for-play” risk, while tightening core provisions around IP/right of publicity, morals and conduct, confidentiality, and dispute resolution. It also addresses compliance and timing guardrails, especially “valid business purpose” framing and recruiting/transfer-window sensitivities, so the deal and the file stay consistent. The session closes with a practical disputes playbook covering early crisis steps, evidence preservation, valuation support, reputational containment, and smart choices on forum, remedies, and settlement strategy.

Break | 3:10pm – 3:20pm

III. NCAA and College Sports Commission (CSC) Enforcement & Investigations Playbook – Preventing Infractions, Surviving Scrutiny and Addressing the New CSC Processes | 3:20pm – 4:05pm

This session delivers a practical enforcement-and-investigations playbook for NIL and revenue-sharing matters, designed to help counsel prevent infractions, respond effectively to scrutiny, and operate confidently under the new CSC processes. It explains how NCAA and CSC jurisdiction works in practice, highlights common triggers for enforcement attention, and outlines what “investigation-ready” compliance looks like without chilling legitimate NIL activity. The session then shifts to rapid response: what to do in the first 48 hours to preserve evidence, manage communications, and develop key facts. This is followed by guidance on interviews, privileges and conflicts, and eligibility-protection planning during fast-moving reviews.

We will cover the jurisdiction of the NCAA and CSC, how NCAA/CSC scrutiny typically gets triggered in NIL/revenue-sharing contexts, and what “investigation-ready” documentation and compliance workflows look like (without chilling legitimate NIL). We will walk through a first 48-hours response checklist focused on preservation, communications, and internal fact development, then address interview prep/representation and privilege/conflict guardrails across athlete/collective/institution stakeholders. The session will conclude with eligibility-protection planning during fast-moving reviews and compliance inquiries, with an emphasis on practical steps counsel can deploy while the matter is unfolding.