May 21 at 9pm ET: Podcast update…
Big news in college athletics: The Big 12 and ACC conferences have approved proposals for a settlement in the House v. NCAA lawsuit. This is a major step towards finalizing a deal that could reshape how college athletes are compensated.
Key Points:
- Settlement includes over $2.7 billion in damages for athletes and former Division I athletes dating back to 2016 for lost NIL opportunities..
- Power conferences could share revenue with athletes (up to $22 million annually).
- This is optional for schools and could begin as early as next year.
- The NCAA would cover about $1.1 billion of the damages, with power conferences responsible for roughly 40% of the remaining amount. This has caused some dissension within the NCAA as smaller conferences believe it puts an unfair burden on them.
- The settlement would need to be approved by the remaining power conferences, the NCAA Board of Governors, and a judge. This process could take several months.
Why This Matters:
- This could be the most significant change to college athlete compensation ever. This settlement would be a major overhaul to the current system of amateurism in college sports.
- It would move college sports closer to a professional model.
- The NCAA avoids a potentially disastrous trial.
What’s Next:
- Other conferences and the NCAA board are expected to vote this week.
- A lengthy approval process would follow, including a judge’s sign-off.