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Verbal Commitments

Have seen recently a bunch of 2020 D1 verbal commitments announced on social media.

What exactly does that mean - have they been offered athletic as well as academic scholarships or are they only promised a spot on the roster and the financials will come later? If they are being offered athletic and academic monies wouldn't they need to have taken the SAT/ACT and submitted FAFSA?

I am just wondering what is included in these verbal commitments.Is it just a handshake where the coach says we'd love to have you be part of the team and the player/family  says ok or do they spell out a much more specific offer.

Thanks!

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