Post by volleyguy on Nov 7, 2024 10:22:42 GMT -5
AI Generated…
-- The final approval hearing for the NCAA settlement is scheduled for April 7, 2025. The settlement is an agreement between the NCAA and power conferences, and the plaintiffs who sued over athlete compensation restrictions. If finalized, it will bring significant changes to college athletics.
--Here are some key dates related to the settlement:
October 18, 2024 - >Former players will be notified of the decision and the claims period will begin.
December 17, 2024 -> The projected amount of money to be distributed will be publicly available.
January 31, 2025 -> The window for people to submit claims, opt out, or bring objections to the court closes.
The settlement includes:
- Backpay: Nearly $2.8 billion in backpay to former athletes over 10 years
- Revenue sharing: Schools can share up to $23 million annually with their athletes
- Roster structure: Bigger roster caps in many sports
- Scholarships: Scholarships may be available to all rostered players
- NIL: Division I schools can pay athletes directly for use of their name, image, and likeness (NIL)
Some groups have voiced concerns about the settlement, including:
The damages amount is too low
The revenue sharing cap is too low
Smaller Division I programs will pay a disproportionate share of the settlement
Here is a good article about the impact of this settlement regarding NIL: www.mccarter.com/insights/highly-touted-settlement-caps-nil-payments-to-student-athletes/
This could turn into a boondoggle of arguments so that there is a better definition of "legitimate" and clear lines about who is in control here? There is an NIL industry in place and there will likely be some push/pull between Universities/ NCAA and the NIL outfits... Here is a quote: " Schools will not be required to spend the full amount of the available money, but most athletic departments in the power conferences will be expected to approach the cap to remain competitive in recruiting. NIL collectives, or groups of donors who compensate athletes with funding and endorsements, will also be able to provide NIL payments to players as long as the NCAA deems them to be legitimate forms of endorsement compensation, i.e., the athlete must provide a service in exchange for the payment, not just receive money for their athletic ability alone."
Unless there’s a change in the judge assigned to the case (she’s 75 years old), the settlement is likely to be approved. There’s always a possibility of adjustments after a long waiting or review period, but it’s unlikely to involve major or fundamental changes. The proverbial horse has already left the barn in this case.
