SEC and Big Ten officials tell @YahooSports that they are still waiting on updated final bill text that reflects negotiations from Tuesday - most importantly language around closing the cap circumvention loophole related to associated entities.

Senate staff member to @YahooSports: “Major concessions were made overnight. 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.”