This bill, known as the PROTECT Act, amends the Higher Education Act of 1965 to prevent the commercialization of intercollegiate athletics by external financial entities. It prohibits institutions from entering into or maintaining agreements with private capital firms or sovereign wealth funds that convey ownership, revenue interests, or control rights over their athletics programs. The legislation aims to preserve the educational mission of college sports and prevent the extraction of wealth from publicly supported institutions. The prohibition specifically targets agreements that transfer commercial rights, such as media or sponsorship revenues, or grant control over athletics decisions like scheduling and personnel. This applies broadly to institutions, their conferences, and affiliated entities, ensuring comprehensive coverage. To maintain eligibility for federal funding, institutions must annually certify compliance and publicly disclose any exempted agreements, with a 24-month transition period for existing arrangements.