NCAA could pay more than $2.7B to settle NIL suits, sources say

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IlliniBrave75

IlliniBrave75
IlliniBrave75
The NCAA's national office might be footing the bill for a settlement expected to be more than $2.7 billion in the landmark House v. NCAA antitrust lawsuit in hopes of reshaping and stabilizing the college sports industry, according to multiple sources.

Sources told ESPN this week that parties have proposed the NCAA's national office -- rather than its individual member schools or conferences -- would pay for the settlement of past damages over a period of 10 years. The NCAA payments would be paid to former college athletes who say they were illegally prevented from making money by selling the rights to their name, image and likeness.

The settlement would come with a corresponding commitment from conferences and schools to share revenue with athletes moving forward, per sources. The settlement would establish a framework for power conferences to share revenue with their athletes in the future. Sources have told ESPN that schools are anticipating a ceiling of nearly $20 million per year for athlete revenue share moving forward. (That nearly $20 million number is a permissive cap derived from a formula based on each school's revenue, and schools could choose how much they want to spend.)

https://www.espn.com/college-sports...ore-27b-settle-nil-antitrust-suit-sources-say
 
#2      

spotter

S
spotter
Reshaping and stabilizing? Sounds like a way to bankrupt the NCAA out of business.

not that there's anything wrong with that seinfeld GIF by myLAB Box
 
#4      

Calvin

C
Calvin
IlliniBrave75 said:
The NCAA's national office might be footing the bill for a settlement expected to be more than $2.7 billion in the landmark House v. NCAA antitrust lawsuit in hopes of reshaping and stabilizing the college sports industry, according to multiple sources.

Sources told ESPN this week that parties have proposed the NCAA's national office -- rather than its individual member schools or conferences -- would pay for the settlement of past damages over a period of 10 years. The NCAA payments would be paid to former college athletes who say they were illegally prevented from making money by selling the rights to their name, image and likeness.

The settlement would come with a corresponding commitment from conferences and schools to share revenue with athletes moving forward, per sources. The settlement would establish a framework for power conferences to share revenue with their athletes in the future. Sources have told ESPN that schools are anticipating a ceiling of nearly $20 million per year for athlete revenue share moving forward. (That nearly $20 million number is a permissive cap derived from a formula based on each school's revenue, and schools could choose how much they want to spend.)

https://www.espn.com/college-sports...ore-27b-settle-nil-antitrust-suit-sources-say
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Gotta give it up to the NCAA. They always do the right thing after exhausting all other options. The long payout is great for the NCAA, which will help them stay in business.

The revenue sharing should be interesting. We think we're in a brave new world now, but it's going to get even weirder. Might help some of the lower tier schools compete, which is probably a good thing for the conference. I'm just spit-balling though.
 
#5      

OrangeKrush1981

OrangeKrush1981
OrangeKrush1981
Going forward, is this going to likely apply for football and basketball athletes only or for all D1-3 NCAA athletes? Is Title IX going to come into play at some point? Maybe I'm completely lost here. (Nah, no way!)
 
#6      

Combo

C
Combo
spotter said:
Reshaping and stabilizing? Sounds like a way to bankrupt the NCAA out of business.

not that there's anything wrong with that seinfeld GIF by myLAB Box's anything wrong with that seinfeld GIF by myLAB Box
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And ultimately the schools. The "NCAA" (the bureaucracy itself) doesn't have $20 Billion. The schools have it and if they have to pay it out it will come from the universities.

This is not a good thing.
 
#7      

Calvin

C
Calvin
Combo said:
And ultimately the schools. The "NCAA" (the bureaucracy itself) doesn't have $20 Billion. The schools have it and if they have to pay it out it will come from the universities.

This is not a good thing.
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Not sure where' you're getting 20 billion. It's 2.7 billion over 10 years. Still a lot of money, but there's way more than that in the revenue sports. The CFP deal alone is well over a billion a year as is March Madness. Whether it's good or not I suppose depends on whether you side more with the athletes or the universities.