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Change is messy. It would eventually find order by gregmorrissey

Contracts would eventually start to look like coach's contracts with termination language and fees, guarantees, moral character language, etc.

Colleges and athletic departments would be free to make decisions they think are in their best interests as would athletes. Budgets and pay ranges by position will develop. Some schools and boosters will care more than others and invest what many would consider to be insane amounts. Some will pay lip service to competing, pay below market, and extract huge profits. Same as it's ever been.