Sat Sep 07 00:21:49 UTC 2024: – Preliminary approval for a $2.78 billion antitrust settlement in college sports did not go as hoped.
– U.S. District Judge Claudia Wilken raised concerns about restrictions on third-party name, image, and likeness payments to athletes.
– The proposed settlement aims to provide financial benefits to student-athletes and create a sustainable system.
– The revenue-sharing plan in the settlement would allow schools to spend up to $21 million per year on payments to athletes.
– Some college administrators are concerned that collectives could circumvent payment caps and give certain schools an advantage.
– Athletes would be required to disclose deals over $600 with collectives or boosters, subject to review through an arbitration process.
– Wilken’s concerns could delay final approval of the settlement for at least another three weeks.
– Some believe the settlement will bring a positive change for athletes, while others see it as an attempt by the NCAA to limit financial opportunities for athletes.
NCAA President Charlie Baker tells membership hearing on $2.78B settlement ‘did not go as we hoped’
NCAA President Charlie Baker tells membership hearing on $2.78B settlement 'did not go as we hoped'
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