The bad thing that is going to happen is that the clearinghouse may try to limit the player's collective contract and if they don't back off, they'll get sued the clearinghouse in court and lose. It's pretty much inevitable at this point. The NCAA has already caved on Collective deals when the House attorneys complained that hamstringing the collectives was not part of the originally approved settlement.
Did you read my immediately prior post with the attached ESPN article? The college sports programs and coaches are planning as if the provisions in the settlement, as revised to address the collective, will not be overturned.
I didn't read the article, but what else should the colleges and coaches be doing? When any NIL deals that are attempted to be limited by the Clearinghouse are overturned in the courts, they'll be planning for whatever the next paradigm is. Here is an article that is as skeptical about the ultimate success of the NCAA's latest attempt at limiting 3rd party NIL payments to athletes as I am: MSN
