By Chris Vannini, Nicole Auerbach and Justin Williams
The NCAA Board of Governors voted to approve terms of what is expected to be a multi-billion-dollar settlement in the House v. NCAA class-action lawsuit on Wednesday, as did Big Ten presidents and chancellors, sources briefed on each decision confirmed to The Athletic. The Board of Governors is the NCAA’s highest governing body. This comes one day after leaders from the Big 12 and ACC did the same. It’s another step toward finalizing a settlement in the landmark case that is likely to reshape the college sports business model. The remaining power conferences are expected to vote this week as well.
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 the course of 10 years via a combination of NCAA reserve funds and reductions in future revenue distributions to conferences.
The damages payment model that is being voted on is a…
