A white paper from Marshall University
From the Mountains,Not the Sidelines
The future of college athletics and why this moment matters to Marshall University, Appalachia, and America.
In life, capitalizing on critical moments matters. This is a case for why this moment matters — and why schools like Marshall must be part of the national conversation.
College athletics is being reshaped in real time by NIL, the transfer portal, conference realignment, and revenue sharing. Even the nation’s largest athletic brands are struggling to balance the books.
For a university like Marshall — investing above its size, serving a region where athletics represents something larger than entertainment — the stakes are especially high. This paper lays out what’s changing, what it means for programs outside the wealthiest conferences, and what we believe should guide what comes next.
Athletics is not simply entertainment. It is a strategic institutional asset.
By the numbers
More than wins and losses
Academic figures reflect the Spring 2026 semester. Economic figures are from estimates prepared in 2026 by Marshall University’s Center for Business and Economic Research.
The future of college athletics cannot belong only to the wealthiest institutions.
What’s inside
Eight Pages on What Comes Next
A look at the financial reality facing college athletics, where Marshall sits in a widening national market, the principles we believe should guide reform, and what supporters can do.
- 01 Why this moment matters
- 02 Athletics as a strategic institutional asset
- 03 The financial reality facing college athletics
- 04 For Marshall, the stakes are especially high
- 05 Playing from a different position
- 06 The need for national solutions
- 07 What supporters can do
- 08 What is at stake
Read the Full White Paper
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Brad D. Smith
President
Gerald J. Harrison
Vice President and Director of Athletics
Kathy Eddy
Board of Governors Chair