Since their inception, intercollegiate athletics have engendered controversy and stimulated debate. Supporters assert that "college sports are significant in defining the essence of the American college and university", suggesting that benefits associated with athletics include more increased fundraising, positive public perceptions of graduates, and goodwill in the local community. Athletics is meanwhile condemned for devaluing the core academic mission, being excessively commercial, and permitting unethical and even scandalous behavior. Accordingly, there have been calls for reform over the decades. Recent proposals have called for faculty involvement in reforming college sports, at the national and local levels. In this article, the authors review the calls by three national organizations, namely (1) the American Association of University Professors (AAUP); (2) Coalition on Intercollegiate Athletics (COIA), and (3) the National Collegiate Athletic Association (NCAA), for faculty-led reform of intercollegiate athletics, as well as the positions they have taken, organized into three categories: (1) academic oversight; (2) faculty governance; and (3) fiscal oversight. The authors then draw on their own work, considering faculty perspectives on governance and oversight of intercollegiate athletics in relation to the proposed reforms.