From my accountant acquaintance :I think some (many?) would disagree. People pay over FMV all the time for things that are of particular value to them specifically. FMV is the price that the open market would bring from a willing buyer who's informed and acting in their own best interest. It's pretty obvious, based on loads of market data, that local car dealership would not be acting in their own best interest (as a busniess) to pay someone 10x what is "normal" for a comparable marketing deal.
Now it'll definitely be challenged in court. Whether it'd hold up or not, we'll see! Deloitte doesn't get to tell a dealership what they can pay but, if approved, the NCAA may have the ability to tell a player what they can accept if they want to be eligible to participate. Then the same deal is never going to be on the table if the player can't participate.
I know they claim to be able to compare it to similar deals, but I think they’re wrong. Fair value is what a buyer and seller are willing to pay in the Principal market they operate in. In this case the Principal market is college sports NIL deals.
For what it’s worth.
I guess time will tell. My prediction is that this will help the situation very little, but I am just an engineer.