By Chris Vannini, Nicole Auerbach and Justin Williams
Big 12 presidents and chancellors voted to approve proposals of what is expected to be a multi-billion dollar settlement in the House v. NCAA class-action lawsuit Tuesday, a source briefed on the decision confirmed to The Athletic. Their approval is another step toward a resolution in the landmark case likely to reshape the college sports business model.
The Big 12 is the first of the suit’s defendants to vote on the settlement terms, with the remaining power conferences and NCAA Board of Governors also expected to do so this week. Settlement details are expected to include north of $2.7 billion in back-pay damages the NCAA will owe to former Division I athletes, as well as a future revenue-sharing model between power-conference schools and athletes, according to sources briefed on the negotiations. The damages, made available to Division I athletes dating back to 2016 as back-pay for lost name, image and likeness (NIL) earning opportunities, would likely be paid out over 10 years via a combination of NCAA reserve funds and reductions in future revenue distributions to conferences.
The revenue sharing would be an optional model for power-conference programs, potentially as soon as next year, in which 22 percent of those…
