The money -- NIL means Now It's Legal -- is flowing again in Dallas, and SMU is in a major conference, the ACC, cutting an unprecedented deal to forgo television revenue for nearly a decade as a devoted group of deep-pocketed boosters pledges to cover the shortfall, while also funding a leading NIL collective. The Ponies are back in the game.
For all this to happen, it took power players who knew how to wheel and deal, lots of money and some Dallas bravado -- all of which are in abundance on the Hilltop. Most schools make a conference move to get more television revenue, not less. But SMU just wanted a seat at the table. SMU's chairman of the board, David Miller, fired his metaphorical six-shooter in the air when he explained how the program could go without television revenue for nine years: The money didn't matter to them.
"It's a couple hundred million dollars," Miller told Yahoo. "I'm not losing sleep over it."
That's because this is college football in Texas, and none of it looks like a risk to people like oilman Bill Armstrong, a billionaire who has made his name and fortune by risking it all. Considered perhaps the greatest wildcatter in history, he's a protégé of legendary oilman (and Oklahoma State mega-booster) T. Boone Pickens, and his company made the third-largest oil discovery in U.S. history in Alaska in 2013.
He's also old college buddies with former stars Eric Dickerson and Craig James, and his name, along with his wife Liz's, now adorns the Mustangs' practice facility as well as the football offices in SMU's new Weber End Zone Complex, a $100 million facility that opened this season, with the Armstrongs pledging $15 million toward the project.
"I was at SMU when we were great," Armstrong said. "I was there when the Pony Express was there, and I saw how important having a major college football team is to a good university."
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