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The statement, said that with changes in NIL and the House agreement, which launched the College Sports Commission and its oversight into NIL deals when it passed last June, many campus leaders have expressed "confusion, frustration and growing uncertainty" over the landscape.

The CSC  with the hope of getting all schools to sign it within two weeks, according to a 

The presidents said the CSC's proposed agreement "provides a collective path forward for the future of college athletics" by requiring schools to support the CSC's standards in implementing the House settlement, including NIL reporting, revenue-sharing compliance, monitoring, audits and enforcement.

"At its core, the agreement asks institutions to do something simple but essential: Play by the rules we have collectively committed to, accept accountability when we fall short, and resolve disputes through the agreed-upon process rather than prolonging costly litigation that fuels confusion and inequity," the statement read. "Stability is not created by new rules alone, but by a willingness to live by them."

However, legal issues could keep the agreement from universal acceptance. According to The Dallas Morning News, Texas Attorney General Ken Paxton to Texas universities urging them not to sign because the agreement “gives practically unlimited authority� and “undermines� schools.

"It is replete with one-sided measures, including the CSC's sole discretions to impose fines, penalties and sanctions on participants with virtually no option for appeal."

Four Big 12 teams are located within Texas: TCU, Texas Tech, Houston and Baylor.

Still, Big 12 commissioner Brett Yormark told reporters before the Jan. 1 Orange Bowl in Miami, and the conference has addressed the concerns of different attorneys general, that he expected an agreement between universities and the CSC "sooner than later."

“I’m confident that once we make the necessary adjustments that, one, it will have teeth to it, the participation agreement,� Yormark said. “But most importantly, that everyone signs it, and I’m very confident that will happen.�

It is unclear which other presidents may have signed the agreement so far. An ASU spokesman said he could not immediately address a request to determine President Michael Crow's stance on it.

The other presidents issuing the statement included Jere Morehead (Georgia, SEC), Timothy Sands (Virginia Tech, ACC) and Robert J. Jones (Washington, Big Ten).

Asked how the statement originated, UA spokesman Mitch Zak issued a statement saying Garimella and Athletic Director Desireé Reed-Francois "continue to provide national leadership" in advancing solutions for college athletics.

"The joint statement is a small but important step forward, encouraging action and reflecting the University of Arizona’s long-standing role and legacy as a national leader in athletics," Zak said.

Before the House settlement was signed last June, NIL deals essentially had no restrictions, leading to a furious transfer portal market in which top athletes reportedly signed deals worth more than $1 million per year. 

But once the House settlement was implemented, it created the CSC, which operates an "NIL Go" clearinghouse in which all NIL deals for more than $600 will be subject to audit to determine if they are for fair market value and not simply pay-for-play.

Several coaches have wondered if the CSC and NIL Go will be able to withstand legal challenges.

Limiting NIL is “a noble attempt to put everybody on a level playing field, but I just don’t see in our country where it’s constitutionally legal to limit wages and tell people what their value is,� UCLA men's basketball coach Mick Cronin told the Star. “I don’t see how it holds up in court.

“You hear all these coaches saying, ‘We just want to know what the rules are, there’s got to be some sort of level playing field.’ But I don’t see how we get there."