Official conference statements and NCAA announcements

NCAA and Power 5 Approve $2.8 Billion House v. NCAA Settlement, Introducing Revenue-Sharing

May 23, 2024, 11:56 PM

The NCAA and its five power conferences have agreed to a historic $2.8 billion settlement in the House v. NCAA antitrust case. This landmark decision, which will allow schools to directly pay athletes for the first time, marks a transformative shift in college sports. The settlement includes a multi-billion dollar revenue-sharing model where each school can share up to $20 million per year with its athletes, starting potentially by the fall of 2025. The Big 12, ACC, Big Ten, SEC, and Pac-12 have all approved the consolidated settlement, along with the NCAA Board of Governors. The settlement aims to resolve three major antitrust lawsuits and is expected to usher in significant changes to the NCAA's long-standing amateurism model. Judge Wilken will still need to certify the settlement. Jeffrey Kessler, the lead attorney, and NCAA President Charlie Baker have expressed optimism about the transformative impact of this settlement.