The NCAA has made a fortune, or lost one, rather, by fumbling the transition out of the amateurism model of college athletics over the past several years.

Whether it's been NIL, the transfer portal, eligibility concerns, or something else related, the NCAA's repeated mishandlings have left the sports beloved sports — namely college football — in a state of flux.

However, there appears to be hope on the horizon. Yahoo Sports' Ross Dellenger reported on Thursday that the Power Conferences have made vital steps toward policing and governing the "evolving professionalized aspects of college athletics," which he calls a "milestone moment in the industry's history."

"During a two-day summit in the nation’s capital, a 'transition team,' charged with operationalizing concepts of the House settlement, inched closer to establishing a new structure to oversee, manage and enforce the settlement-related athlete compensation system for all of NCAA Division I," Dellenger writes. "The newly created LLC, overseen by a CEO or executive director, is centered on a new enforcement arm to police violators of the industry’s new salary cap and is expected to feature revenue-sharing policies and a corresponding penalty structure for violators."

"This new entity dovetails with a proposal introduced last month from the power conferences that grants them more autonomy and creates a new division or subdivision within the NCAA. It stands as another shift in the transformation of major college athletics as the NCAA deregulates itself and cedes more authority to the power leagues after court rulings toppled its long-standing amateurism rules."

In other words, power conference leadership has decided that the only way to get something done the right way is to do it themselves.

This new entity wouldn't be the death of the NCAA, however, as Dellenger goes on to explain that it would run adjacent and intertwined with the NCAA. Hypothetically, this will allow the group to police matters on their own and do away with the NCAA's tiresome and outdated process of investigations.

This "transition team" is made up of two athletic directors from each of the Power Conferences: The Big Ten, SEC, ACC, and Big 12. This coalition of leadership comes together for multiple reasons, but there is one significant agreement that is at the bottom of it all.

"The four power leagues, named defendants in the settlement, are leading the implementation of the agreement’s most significant piece: that schools are permitted annually to share millions in revenue with athletes under a capped system scheduled to begin July 1."

This new team's main objective, outside of setting the structure of revenue sharing, will be to police the new agreement and ensure schools are operating within the new rules structure (i.e. tampering, exceeding the new cap).

According to Dellenger, the transition team is already finalizing new policies and penalties relating to the revenue-sharing system and has multiple penalties under discussion, such as school fines, revenue-share pool reductions, and suspensions for coaches and/or administrators.

All of this stems back to the NCAA's high-profile court cases and a settlement that is set to go final later this year. The settlement will finalize two sweeping decisions that will change the course of college athletics. First, it will distribute $2.77 billion in back-damage pay to athletes—most of them former—over the next decade. Second, it will provide a concept for the revenue-sharing model that NCAA schools will operate under going forward.

Now, with this new transition team looking to police the matter and bring order back to the chaos, it appears we might finally have a structure by which college football can get back to being about what happens on the field, not off of it.