Official announcements by Power 5 conferences or verified sports news outlets.

NCAA Nears $2.7 Billion Settlement in House v. NCAA Case as Big 12 Approves

May 21, 2024, 05:22 PM

The NCAA is on the brink of settling the House v. NCAA class-action lawsuit for approximately $2.7 billion. The settlement is expected to reshape college sports, introducing revenue-sharing models for current and future athletes, and overhauling NCAA scholarship and roster limits, governance, and enforcement. The Big 12 conference has become the first of the Power 5 conferences to unanimously approve the settlement terms, with other conferences expected to follow suit by the end of the week. However, non-FBS football conferences have expressed concerns over the proposed payment structure, suggesting an alternative model where 60% of the damages are paid by Power 5 schools instead of the current 40%. The settlement requires approval from over 300 schools across 30+ conferences. The NCAA Board of Governors and other power conferences, including Texas and Michigan, are set to vote on the settlement this week. Schools like Indiana State and Valpo are also affected. OU and Texas abstained from the Big 12 vote. The final decision is expected by Thursday.