Monday, June 17, 2024

Understanding the NCAA’s Milestone Settlement in Paying Athletes | News Update

Historic Settlement Reached: NCAA and Major Conferences to Pay Athletes Directly

**Title: College Athletes Score Big Win with NCAA Settlement Agreement**

In a historic move, the NCAA and the nation’s five major conferences have reached a settlement that could change the game for student-athletes across the country. For the first time in college sports history, colleges and universities may soon be paying athletes directly.

Under the agreement, pending approval by a judge, former and current athletes could receive damages for the use of their name, image, and likeness rights. Additionally, future college athletes could benefit from revenue-sharing opportunities. The five major conferences involved in the settlement are the ACC, Big Ten, Big 12, Pac-12, and SEC, representing over 60 schools.

Steve Berman, co-lead counsel for the plaintiffs, hopes that revenue-sharing will be implemented by the fall of 2025. The settlement resolves several antitrust lawsuits against the NCAA, providing over $2.75 billion in back pay damages to athletes over a 10-year period.

The agreement also paves the way for future revenue-sharing, allowing universities to share a portion of their revenues with college athletes. This marks a significant shift in the college sports landscape, finally recognizing and compensating athletes for their contributions to the multibillion-dollar industry.

The settlement is expected to be reviewed by a judge in the coming months, with a potential implementation timeline outlined for the future. Lawmakers, including Sen. Ted Cruz and Rep. Lori Trahan, have weighed in on the agreement, highlighting the need for further legislative action to protect the rights and interests of student-athletes.

Overall, the NCAA settlement represents a significant victory for college athletes, ushering in a new era of fairness and compensation for their talents and hard work.

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