President Donald Trump on Friday warned that the U.S. collegiate sports system could collapse without immediate cost controls and more revenue for players. Speaking at a White House summit with lawmakers and sports officials, he said he plans to issue an “all-encompassing” executive order within a week, which could prompt a lawsuit revisiting court-approved NIL payments.

Trump said the court settlement that created the NIL system had left many schools in financial distress and threatened the broader educational system. “The whole educational system is going to go out of business because of this,” he said, stressing the urgent need to reform college athletics.

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Meeting participants agreed on the need to save the industry from escalating NIL costs and largely supported the SCORE Act, which would provide limited antitrust exemptions for the NCAA and preempt state NIL laws. House Speaker Mike Johnson indicated the bill may now have enough support to pass.

Officials also flagged Olympic and women’s sports as particularly at risk, since their funding depends on revenue from football and basketball. U.S. Olympic Committee CEO Sarah Hirshland said economic pressures threaten both men’s and women’s programs, underscoring the need for immediate action.