NCAA Approves $2.8 Billion Settlement in 16-3-2 Vote, Paving Way for Major Changes

May 23, 2024, 04:23 PM

The NCAA Board of Directors has voted to approve a recommended plan to finance a $2.8 billion antitrust settlement. The vote, which was 16-3-2, is a significant step towards resolving three major antitrust lawsuits against the NCAA, potentially averting $20 billion in damages. The settlement, also approved by Big Ten Conference leadership on Wednesday, marks a pivotal moment for college athletics, paving the way for dramatic changes in the industry. The Board of Governors is scheduled to meet tomorrow to potentially finalize the deal. The proposed settlement cleared the first step of approval with no change to the finance plan.