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Two things will shake out:
1) P5/G5 bubble kids now tilt further to P5. Many bubble kids that choose a G5 program for playing time over competing offers from the P5 will now go with that P5 offer. Before the difference was playing time, now its playing time and money. Not all P5 schools will have the boosters/schemes to make this work, but many will after a few years. I would expect the depth at schools in the bottom of the P5 in particular to improve as playing for a loser like Rutgers and getting some cash will appeal to many vs playing time at App State.
2) G5 transfers literally cash in: Kids that shine with one or two good years at a G5 school will hit the transfer portal to not only step up the prestige, but now to collect a pay check. Boosters will have a field day cherry picking the G5's best. Anyone think Milton will still be at UCF under this system?
Modest Money: I think everyone might be over estimated the money. A lot of kids will pick one school over another for something as modest as a 10 to 30k cash subsidy. Yes, the cash wont come from the school, it will come from booster entity or individual. By example, UConn's $1MM lockers could have been used as 750k in lockers and a handful of modest one year subsidies to improve our odds in the transfer market this past off season.
App State probably has more boosters willing to spend money on the program than Rutgers does.
In fact, I’d turn that first argument on its head.
Schools like Southern Miss, UCF, Boise State etc etc have more people willing to spend more money than a school like Rutgers or BC does.
So I think it would actually help schools like that more than it hurts.