College athletic leaders have been engaged in deep discussions to reach a legal settlement that would establish a framework for revenue sharing with athletes. The House v. NCAA case is set to go to trial in January 2025, and if the plaintiffs win, the NCAA and its schools could be on the hook for over $4 billion in damages. This has led many industry leaders to seek a settlement to avoid such a large payout.
Last week, representatives from the power conference’s commissioners, general counsel, NCAA President Charlie Baker, NCAA lawyers and plaintiffs’ lawyers met in Dallas to mark a turning point in the discussions. While no deal is imminent, details of the multibillion-dollar settlement could soon be shared with campuses. There are still hurdles and objections at the campus level, but progress has accelerated in recent weeks.
The settlement is expected to include billions in back pay for former athletes and may require the NCAA and conferences to agree on a system to share more revenue with players in the future. The top revenue share per school is expected to be about $20 million a year, although that figure has yet to be finalized.
The revenue sharing idea came from a joint SEC-Big Ten advisory group announced in February, made up of university presidents/chancellors and athletic directors. This framework aims to address the issue of compensating college athletes for their contributions to the multi-billion dollar college sports industry.