NCAA, Power Five, Big Ten Approve $2.8 Billion Settlement to Pay College Athletes

May 24, 2024, 12:54 AM

The NCAA and the nation's five largest college sports conferences, including the Power Five and Big Ten, have approved a $2.8 billion settlement to resolve antitrust claims in the House case. This landmark agreement will allow schools to directly pay college athletes for the first time in over a century of college sports history. The settlement includes a revenue-sharing model, enabling schools to distribute up to $20 million annually to their athletes, starting as early as the fall of 2025. The settlement also involves paying $2.8 billion in damages over the next 10 years to both former and current athletes. This decision marks a significant shift from the NCAA's long-standing amateurism model towards a more professional-like compensation structure for college athletes.