sonali: let's listen into a sound from tom boley from earlier this week. >> college sports is on thepice of a major change. if you look at what college sports should be thinking about, a couple of things right now that they are struggling with. one, nil is the wild, wild west. in order to standardize nil there has to be collective bargaining. sonali: if all of this is true, randall, how long would it take to find solutions? randall: [laughter] that is the million-dollar question. nil was granted in 2020 or 2021. it has become more fragmented. there are still the same issues that existed three years ago, still exist. until there is a governing body that is able to say, these are the rules, this is the legislation, it will continue to be the wild west. you have schools trying to follow state laws and ncaa laws, and the ncaa is saying, follow my rules, and the state is like we technically don't have to. sonali: part of the reason that you are talking about this, this is one of the biggest investment themes out there in sports, one of the investment themes in private equity. if this is s