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I said it a few months ago..:relatively quickly we will have some colleges with payrolls that are at the very least equivalent to the NBA salary cap. We’re going to look back at the days of an elite player getting $300K to go to a university and laugh; in a few years it will be $20M.

You can't. You'd need the players in a union, and then collectively bargain a cap. There's nothing to stop a Elon Musk for instance from offering $75M a year to get the UNC quarterback to jump to Stanford.