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With the NCAA's board agreeing to the terms of
the settlement, former college athletes are one step closer to
getting over $2.7 billion in back damages over the next decade
because of previous restrictions on Name, Image and Likeness
(NIL) deals.
Future athletes would also benefit, as the Big 12, Atlantic
Coast Conference and Big Ten -- three of the defendants in the
case -- are hoping to put a system in place that would give
schools the power to pay them about $20 million per year in
permissive revenue sharing.
Such payments wouldn't start until fall of 2025.
The ACC and Big 12 had already accepted the terms of the
settlement, doing so on Tuesday. The Big Ten joined in on
Wednesday, and now the Southeastern Conference and Pac-12 just
need to submit their approval.
Both the SEC and Pac-12 are expected to approve the terms later
this week, per ESPN's report.
It is expected that a settlement will officially be reached, and
if that were the case, the schools and the NCAA would avoid
going to court, where they could have had to pay over $4 billion
in damages if they lost.
Per ESPN's report, the plaintiffs in the case could also dismiss
two other antitrust cases against the NCAA that are currently
pending and could possibly add billions of dollars in damages to
the association's plate.
--Field Level Media [© 2024 Thomson Reuters. All rights
reserved.]
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