A revised copy was sent to the SEC and B1G at the midnight hour, and they have 25 minutes left to respond to proposed changes.

A 10 a.m. ET deadline has been set for the conferences to sign off on the bill. The two conferences were not involved in the drafting of the bill when it was initially released earlier this summer.

“If this thing doesn’t happen, it’s 100% on them,” a source told On3. “These Senators and everybody else has bent over backwards for them.”

The Senate is only days away from its month-long summer recess, which would put Division I universities with the same patchwork of state laws to operate from as the college football season kicks off.

This comes after Sens. Ted Cruz and Maria Cantwell made concessions on Tuesday and Wednesday to get the legislation’s wording to meet the Big Ten and SEC. Among the concessions that have been made are an additional $25 million pool for player retention, entities cannot acquire media rights to create a new conference and a prohibition of compensation to recruits before enrollment.

“Major concessions were made overnight,” a source told On3 on Wednesday. “At this point, with every passing minute, odds are slimmer that we can move the bill before the August recess. We’ve been working night and day to make the revisions they said they needed, and we need an answer. That wasn’t a superficial deadline. There’s a lot that goes into passing legislation – a lot of work behind the scenes and it just takes time.

“The Big Ten and SEC have been in the loop throughout the entire process – they’re familiar with the bill text and the changes we’ve discussed.”

I think I know how the final decision will be made, if I’m being honest:

I wonder if they’ll ask Pope Bevacqua at Notre Dame for a final blessing, too?