In an unprecedented move, the NCAA and the nation’s Power Five conferences have reached an agreement to compensate their athletes. The ACC, Big Ten, Big 12, SEC, and Pac-12 have agreed to the terms of a settlement that will result in the NCAA paying nearly $2.8 billion in damages over a period of 10 years to around 14,000 athletes from 2016 to the present. This deal also establishes a new system that will allow schools to allocate up to $21 million annually to pay student athletes in any sport starting in 2025.
The proposed agreement aims to settle a series of lawsuits against the NCAA, potentially saving them from having to pay even more in billions. However, the deal still needs approval from a judge, and many aspects need to be further discussed, such as how schools will distribute payments, if payments will be fair between genders, and the implications for various sports.
To gain more insight into this historic development, we have Pat Forde, a senior writer at “Sports Illustrated,” here with us today. Pat, thank you for joining us. It seems like the era of amateur college athletes is coming to an end. Can you explain the significance of this moment?
Pat Forde acknowledges that this marks the end of amateurism in college athletics, a concept that has been upheld for a long time. This shift has been in the works for years, especially since the approval of name, image, and likeness payments three years ago. The recent agreement not only provides retroactive compensation for athletes who have already left their sports but also sets up a payment framework for the next decade. The substantial amount of money from the usual budgets of athletic departments
