It's not extra money. The money will have to come from Pitt's budget one way or another. Maybe that's cutting staff or cutting sports or just getting the general fund to kick in. Also, no school has to pay the players, but the House settlement gives them this option. It's widely expected that every P4 school will spend the full $20 million. How they break it down per sport is the question. Remember, the new administration overruled the last one, saying Title IX won't apply. So you can spend it all on football and basketball if you want.
What this does is level the playing field some. In some ways, it's almost like going back to everyone paying $0 because all P4 schools will have enough money to be competitive. Like, take BC and VT for example, 2 schools who really didn't do booster NILs for basketball. Lets say they do $16 million and $4 million for basketball and have $0 booster NIL. Lets say Alabama does $18 million for football, $2 million for basketball and has $3 million in booster NIL. Well, not BC has $4 million to spend and Bama only $5 million. The playing field has leveled somewhat.