" But a given school could not long competeand generate that massive incomeif it uniquely paid below-market wages to its athletes. Any school not meeting the labor market competition would have inferior teams and small gate receipts. But employee exploitation, which is not practicable for an individual school, is feasible when done by all schools under enforced agreement. "

This paragraph specifically, I do not understand. what does he mean when he italicizes the word uniquely? What is the labor market and how are those schools not meeting it? Why would they have worse teams?