Settlement Terms Revealed
I don't understand all of this but here is the best summary and old man can do.
Past athletes will share $2.78 billion
"For past damages, the plaintiffs' attorneys submitted a proposed formula for deciding how to divide money among the eligible athletes. Any Division I athlete who played a sport from 2016 to present day is eligible for past damages."
"...football and men's basketball players from power conference schools will be eligible to receive an average of $135,000. Women's basketball players from power conferences could receive an average of $35,000. The likely payout for athletes from other sports will depend on how many enter claims."
"...part of the payouts will also be based on the athletes' potential earning power had they been able to sign NIL deals while they were in school. Berman said the highest individual estimated payout for one athlete will be $1.8 million."
Schools will be allowed to pay athletes directly
"Each school could provide up to 22% of the average revenue that power conference schools generate from media rights, ticket sales and sponsorships -- a sum that is expected to be between $20 million and $22 million per school when the settlement goes into effect at the start of the 2025-26 academic year."
"The $20-22 million figure that serves, in effect, as a salary cap will increase over time as the leagues' revenue grows."
"The NCAA and plaintiffs' attorneys said those payments when combined with the tuition and other benefits that athletes already receive will create a system where many schools are sharing close to half of the revenue they generate with athletes. That figure is comparable with revenue share agreements in professional sports."
I don't understand all of this but here is the best summary and old man can do.
Past athletes will share $2.78 billion
"For past damages, the plaintiffs' attorneys submitted a proposed formula for deciding how to divide money among the eligible athletes. Any Division I athlete who played a sport from 2016 to present day is eligible for past damages."
"...football and men's basketball players from power conference schools will be eligible to receive an average of $135,000. Women's basketball players from power conferences could receive an average of $35,000. The likely payout for athletes from other sports will depend on how many enter claims."
"...part of the payouts will also be based on the athletes' potential earning power had they been able to sign NIL deals while they were in school. Berman said the highest individual estimated payout for one athlete will be $1.8 million."
Schools will be allowed to pay athletes directly
"Each school could provide up to 22% of the average revenue that power conference schools generate from media rights, ticket sales and sponsorships -- a sum that is expected to be between $20 million and $22 million per school when the settlement goes into effect at the start of the 2025-26 academic year."
"The $20-22 million figure that serves, in effect, as a salary cap will increase over time as the leagues' revenue grows."
"The NCAA and plaintiffs' attorneys said those payments when combined with the tuition and other benefits that athletes already receive will create a system where many schools are sharing close to half of the revenue they generate with athletes. That figure is comparable with revenue share agreements in professional sports."
