The ball is finally in student-athletes’ court: The NCAA and the nation’s five major conferences agreed Thursday on a settlement that could see colleges and universities pay athletes directly for the first time in the history of college sports.
Under the settlement, which still needs to be approved by a judge, the NCAA and the five major college sports conferences would pay damages to former and current athletes as well as allow revenue-sharing for athletes in the future. The five conferences – which represent more than 60 schools – include the Atlantic Coast Conference (ACC), Big Ten Conference, Big 12 Conference, Pacific-12 Conference and Southeastern Conference (SEC).
In a statement to U.S. News, Steve Berman, co-lead counsel for the plaintiffs, says that ideally the revenue-sharing will be in place by the fall of 2025.
College sports, a billion dollar industry, has been plagued with lawsuits in recent years over its handling of the name, image and likeness rights of student-athletes. NCAA President Charlie Baker and the conference commissioners called the settlement agreement an important step in reforming college athletics and the “next chapter” of college sports.
“This settlement is also a road map for college sports leaders and Congress to ensure this uniquely American institution can continue........