NCAA and SEC approve historic $2.8 billion antitrust settlement

The NCAA and the Southeastern Conference (SEC) have approved a $2.8 billion settlement of antitrust claims, bringing college athletics one step closer to unprecedented change. The settlement involves three major antitrust lawsuits that threatened the NCAA with multibillion-dollar damages, potentially crippling the organization responsible for overseeing approximately 500,000 athletes in various sports.

On Thursday, the presidents and chancellors of the SEC, another league to agree to the settlement, voted unanimously in favor. This information was provided by a person with direct knowledge of the decision who spoke to The Associated Press on condition of anonymity because internal discussions at the conference are not public.

Read more: NCAA antitrust settlement completes first phase of approval

With this agreement, four of the five power conferences are now on board. The only approval needed comes from the Pac-12, whose board is expected to make a decision on Thursday.

If the judge approves the settlement, it would represent a significant change to the NCAA’s long-standing amateur sports model. This model, which has only recently begun to allow athletes to earn money through sponsorships, would be further disrupted by allowing revenue to be shared between schools and their athletes.

Source: AP News