Washington, March 7 (NationPress) U.S. President Donald Trump announced plans to implement a comprehensive executive order within a week to tackle what he characterized as a crisis in U.S. college sports. He cautioned that rising payments to athletes and ongoing legal disputes could jeopardize the financial health of universities and the future of Olympic sports.

During a White House roundtable with lawmakers, sports leaders, college representatives, and coaches, Trump expressed that the current athletic system is becoming unmanageable and could lead to significant financial setbacks for universities.

"This meeting is critical... because it pertains to the future of not just college sports but also the colleges themselves," Trump stated. "The financial data we are observing and the expenses incurred by previously successful institutions are staggering."

He pointed out that schools are engaging in what he referred to as a financial arms race, fueled by athlete compensation and legal ambiguities regarding eligibility, transfers, and name-image-likeness (NIL) rules.

"Educational institutions find themselves in a financial arms race for athletes in sports like football and basketball," he remarked. "If Congress does not act swiftly, it could lead to the destruction of college sports and the colleges that participate in these sports."

Trump highlighted that soaring expenses and ongoing lawsuits have left athletic programs precarious, referencing significant losses reported by various universities.

"For instance, it was revealed that Penn State's athletic division incurred a loss of $535 million last year, while Florida State suffered a $440 million loss," Trump said. "These figures are just the tip of the iceberg regarding what may come."

The President stated he would formulate an executive order after consulting with experts present, emphasizing that legislative measures might be delayed in Congress.

"I will have a comprehensive executive order ready within a week, and we anticipate legal challenges... we'll see how the judicial system responds," Trump added.

This initiative coincides with Congressional efforts to advance the Score Act, legislation designed to establish national standards for athlete compensation, transfers, and governance.

House Speaker Mike Johnson mentioned that lawmakers are nearing the passage of the bill in the House.

"We are on the brink of passing the bill in the House, and we believe we have secured the necessary votes," Johnson stated. "Congress must act promptly as the situation is spiraling out of control."

Proponents of reform asserted that college sports serve a vital role in the U.S., offering educational opportunities while acting as a pathway for Olympic athletes.

Secretary of State Marco Rubio emphasized the importance of college athletics, noting that thousands of students gain access to higher education through sports scholarships.

"There are literally thousands of young Americans who will graduate this year with not just degrees but also advanced degrees," Rubio remarked.

Former Alabama football coach Nick Saban cautioned that the existing system encourages athletes to prioritize immediate financial gains over education.

"Individuals are making decisions based on potential earnings rather than value creation for their future," Saban stated.

NCAA President Charlie Baker noted that the college sports landscape supports over half a million athletes and contributes billions of dollars in scholarships.

Officials also cautioned that financial strains could disproportionately impact women's and Olympic sports programs.

Sarah Hirshland, CEO of the U.S. Olympic and Paralympic Committee, asserted that the college system has historically been the foundation of Team USA's achievements.

"Our nation has embraced an education-based sports system for over a century," she stated. "This system is the envy of the world."

Participants unanimously agreed that the current framework lacks consistent national regulations, necessitating action from Congress and federal regulators to restore order.

"This chaotic mentality... is detrimental to the future of college athletics," House Majority Leader Steve Scalise warned.

College athletics have witnessed rapid transformations in recent years following U.S. court rulings that deemed restrictions on athlete compensation as violations of antitrust laws. These rulings have opened the door for athletes to monetize endorsements and sponsorships under NIL regulations.