The NCAA and its five power conferences have agreed to allow schools to directly pay players for the first time in the 100-plus-year history of college sports.
The NCAA and its leagues are moving forward with a multibillion-dollar agreement to settle three pending federal antitrust cases. The NCAA will pay more than $2.7 billion in damages over 10 years to past and current athletes, sources told ESPN. Sources said the parties also have agreed to a revenue-sharing plan allowing each school to share up to roughly $20 million per year with its athletes.
"The five autonomy conferences and the NCAA agreeing to settlement terms is an important step in the continuing reform of college sports that will provide benefits to student-athletes and provide clarity in college athletics across all divisions for years to come," NCAA president Charlie Baker and the five power conference commissioners said in a joint statement Thursday evening.
"This settlement is also a road map for college sports leaders and Congress to ensure this uniquely American institution can continue to provide unmatched opportunity for millions of students. All of Division I made today's progress possible, and we all have work to do to implement the terms of the agreement as the legal process continues. We look forward to working with our various student-athlete leadership groups to write the next chapter of college sports."
All Division I athletes dating back to 2016 are eligible to receive a share as part of the settlement class. In exchange, athletes cannot sue the NCAA for other potential antitrust violations and must drop their complaints in three open cases: House v. NCAA, Hubbard v. NCAA and Carter v. NCAA.
The NCAA and its leagues are moving forward with a multibillion-dollar agreement to settle three pending federal antitrust cases. The NCAA will pay more than $2.7 billion in damages over 10 years to past and current athletes, sources told ESPN. Sources said the parties also have agreed to a revenue-sharing plan allowing each school to share up to roughly $20 million per year with its athletes.
"The five autonomy conferences and the NCAA agreeing to settlement terms is an important step in the continuing reform of college sports that will provide benefits to student-athletes and provide clarity in college athletics across all divisions for years to come," NCAA president Charlie Baker and the five power conference commissioners said in a joint statement Thursday evening.
"This settlement is also a road map for college sports leaders and Congress to ensure this uniquely American institution can continue to provide unmatched opportunity for millions of students. All of Division I made today's progress possible, and we all have work to do to implement the terms of the agreement as the legal process continues. We look forward to working with our various student-athlete leadership groups to write the next chapter of college sports."
All Division I athletes dating back to 2016 are eligible to receive a share as part of the settlement class. In exchange, athletes cannot sue the NCAA for other potential antitrust violations and must drop their complaints in three open cases: House v. NCAA, Hubbard v. NCAA and Carter v. NCAA.
