Historic Settlement: NCAA Athletes to Receive Landmark Compensation

A U.S. judge has granted final approval to a landmark $2.8 billion settlement with the NCAA, empowering schools to compensate student athletes for the commercial use of their names, images, and likenesses. This settlement resolves extensive litigation between the NCAA and student athletes.

In her ruling, U.S. District Judge Claudia Wilken, based in Oakland, California, described the agreement as a significant step forward for student-athlete compensation. She emphasized it as an unprecedented opportunity in college sports' history, reinforcing athletes' rights. Plaintiffs' lead attorneys, Steve Berman and Jeffrey Kessler, praised the ruling as a historic victory for college athletes.

Despite objections over its fairness, the settlement resolves three suits alleging NCAA rules breached antitrust laws. It mandates compensations for past damages since 2016, potentially providing billions to affected athletes. The NCAA, maintaining its stance of no wrongdoing, can anticipate further challenges from objectors through appeals in the 9th U.S. Circuit Court.

(With inputs from agencies.)