On Monday, Federal judge Claudia Wilken granted preliminary approval to the terms of the antitrust settlement between Division I athletes, the NCAA and its Power Five conferences.
Athletes impacted by the settlement will have until January 31 to file objections or opt out. A final hearing is schedule for April 7, 2025.
In May, attorneys for all parties agreed to settle a trio of antitrust lawsuits (House v. NCAA, Hubbard v. NCAA and Carter v. NCAA). The NCAA agreed to pay roughly $2.8 billion in damages to former and current college athletes.
The settlement will also eliminate the restrictions on schools directly paying their players, a cornerstone of the NCAA's amateurism rules.
If approved, schools will be able to pay their players up to a certain limit, expected to be an estimated $20M per school each year.
There are still concerns the restrictions violate Title IX laws and the rights of independent NIL-based collectives. However, as part of the settlement, athletes would have to agree to forgo their rights to file Title IX lawsuits about the disbursement of the damages.
College athletics is about to radically change.
GO CANES!
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