Big 5 schools are (mostly) buying in on new NCAA revenue-sharing rules. Here’s what they’re saying.

The approval of the House v. NCAA settlement Friday changed the way Division I college athletic departments operate. The landmark settlement created a system that will allow institutions to share revenue directly with their athletes for the first time.

Here’s how Philly’s D-I schools are handling revenue sharing in the House era of college sports.

At Villanova, the approval of the House settlement led to the launch of the Villanova Athletics Strategic Excellence Fund, a revenue-sharing replacement for the school’s NIL collective, Friends of Nova. Friends of Nova will transition from soliciting donations for the school’s NIL fund to creating “exclusive revenue-generating events” and other engagements, according to the school’s NIL at Villanova web page.

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Athletic director Eric Roedl sent an email to the Villanova community on Monday that outlined the school’s plans after the House settlement.

“At Villanova, our revenue sharing efforts will be primarily focused on men’s and women’s basketball,” Roedl wrote. “Our objective is to share revenue at levels which will keep our basketball rosters funded among the top schools in the Big East and nationally.”

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The VASE fund will collect direct, tax-deductible donations, which will become “a primary means of supporting” revenue sharing, Roedl wrote in the email.

Temple debuted competitive excellence funds in March, when the House settlement was first expected to be approved. Like the school’s Owl Club annual fund, each team at Temple will have its own competitive excellence fund for contributions from donors.

“The introduction of the competitive excellence funds represents a transformative opportunity for Temple Athletics,” Temple athletic director Arthur Johnson said in a March release. “This initiative not only enhances the student-athlete experience but also allows us to stay competitive at the highest levels. By empowering our donors to support student-athletes directly, we are providing them with the resources and opportunities they need to thrive both on the field and in life.”

As a member of the American Athletic Conference, Temple is required to provide athletes at least $10 million in additional benefits in the next three years. In March, the AAC set a revenue sharing floor for its members, with the exceptions of Army and Navy. Temple is the only Big 5 school with an FBS football program.

La Salle issued a statement Tuesday confirming that it will opt in to the House settlement.

“This decision reflects our commitment to college athletics and our student-athletes, positioning us for a promising future,” athletic director Ashwin Puri wrote in a release from the school.

La Salle will join the other opt-in Big 5 schools in accepting tax-deductible donations for its “competitive excellence initiatives.”

In addition to support for revenue sharing with its athletes, La Salle plans to use initiative funding for renovations to and maintenance of athletic facilities. Puri’s statement also clarified that “no current La Salle student-athletes will lose their opportunity to compete due to roster limits.”

St. Joseph’s, which, like La Salle, competes in the Atlantic 10, opted in to the terms of the House settlement on Tuesday.

“St. Joe’s basketball programs are an enormous part of the history and tradition of the university, and enrich the experience of the entire student body, university community, and alumni base,” athletic director Jill Bodensteiner said in a release by the school on Tuesday. “By opting in, we’re ensuring that our men’s and women’s basketball programs can continue competing at the highest levels of the Atlantic 10 and Big 5.”

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The introduction of roster limits was a primary concern for St. Joe’s in the initial terms of the settlement, according to the school’s release. The rules on roster limits were amended before the settlement was approved, allowing St. Joe’s to feel comfortable committing to the House guidelines.

“Previous iterations of the House settlement, which has been negotiated exclusively by the NCAA and Power 4 conferences, would have required all institutions that opt in to immediately meet new roster limits by ‘cutting’ student-athletes from teams,” St. Joe’s athletic director Jill Bodensteiner said in the release. “The final settlement — while unreasonably delayed and far from perfect — allows institutions to exceed the new roster limits by retaining or adding, at the institution’s discretion, select ‘designated’ student-athletes.”

The school’s release did not include details of an athletic fund for revenue sharing or plans for the school’s affiliate NIL collective, the Hawk Hill Alliance.

Drexel is opting in to the House settlement, along with the rest of the Coastal Athletic Association. The CAA announced in January that its member institutions would opt in.

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In a written statement to the Drexel community this week, athletic director Maisha Kelly said Drexel would use its existing resources “with an eye toward a return on investment.”

“We will be further equipped to decide how to invest in our programs as they align with priorities and goals for success and give our student-athletes the tools to maximize their NIL opportunities,” Kelly said in the statement. “We support student-athletes’ ability to pursue value in the marketplace of their peers and to leverage commercial opportunities that may benefit them or the institution.”

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As a member of the Ivy League, Penn is not eligible to share revenue with its athletes. The Ivy opted out of the House settlement in January. Athletes at Penn will still be able to receive NIL compensation through Penn’s associated NIL collective, Penn-I-L, but will not receive compensation directly from the university.