CHICAGO A year ago, the House settlement took effect, ushering in the revenue-sharing era in college sports. Schools could directly share up to $20.5 million with athletes, and that figure grew to $21.3 million this month, though there is no true cap on third-party NIL spending.Speaking at Big Ten Media Days on Wednesday, though, Ohio State coach Ryan Day argued the cap on spending should be even higher. He also noted the difference with above-the-cap dollars, which can come through third-party NIL deals.[ $19.99 gets you a FULL year of On3 | Rivals national coverage ]Day compared the current cap setup to a soft cap because of the ability for players to earn outside money beyond their rev-share deal. While he wasnt sure what impact it would have on the parity seen in the modern era, he argued a higher cap would be better for schools.I think we all would like to see more structure when it comes to the salary cap and then how things are handled above the salary cap, Day told reporters at the Hilton Chicago. Call it a soft cap. I think if youre talking about that, yeah. Do I think the cap should be higher? Absolutely.What does that mean in terms of parity and all that? I dont know. But I can tell you right now, we want to pay our players and we certainly would like to see that cap go much higher.Heading into the 2026 season, roster costs continue to soar in college football. Multiple schools are expected totop the $40 million mark this season, On3sPete Nakosreported, and Michigan coach Kyle Whittingham predicted $50 million could happen in the near future.SUBSCRIBE to the On3 NIL and Sports Business NewsletterWhile evaluating roster spending in college football, Ryan Day said its the nature of the market. But by increasing the cap, he argued programs could spend more competitively.If you look at the way it started and where it is now, every year its exponentially gone up higher and higher, Day said. Anytime you have sort of an open market every year, youre going to see that go higher and higher. So when you put a small cap on that, it makes it more and more challenging to compete and do things the right way.