NCAA, Five Conferences Pursue $2.8B Student-Athletes Settlement

Charlie BakerThe NCAA joined five conferences in a nearly $2.8 billion settlement proposed to cover damages to former and current student-athletes who claimed now-defunct NCAA rules prevented them from earning endorsement money.

The move could create an avenue for college athletes to seek compensation more like professionals, whereby college and university athletics programs would compete in a marketplace for talent.

The proposed agreement, awaiting approval of the federal judge overseeing the case, seeks a revenue-sharing system for college athletes that would affect colleges and university around the country. Plaintiffs can opt out or challenge terms of the agreement.

"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,” read a joint statement by NCAA President Charlie Baker and commissioners of the Atlantic Coast Conference, Big Ten, Big 12, Pac-12, and Southeastern Conference.

“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.”