By Sophie Kaufman on SwimSwam
Former college athletes can now file claims for part of the $2.8 billion backpay the NCAA is slated to pay in damages as part of the House v. NCAA settlement agreement.
As Judge Claudia Wilken preliminarily approved the settlement earlier this month, Division I athletes who competed in the NCAA from June 15, 2016 – Sept. 15, 2024, are eligible to apply for a claim through collegeathletecompensation.com. The claim period ends Jan. 31, 2025.
If the final settlement is approved, the face of college athletics will change in the United States. Revenue sharing with NCAA athletes will go into effect July 1, 2025. There will also be a shift from scholarship limits to roster caps as the league must find enough money to fund the $2.8 billion in back pay. Many of those changes affect the current and future athletes of the NCAA, but the back pay is an opportunity for former college athletes to earn compensation for missing NIL opportunities and revenue sharing.
The majority of the settlement is expected to go to Power 5 football and men’s basketball players. These players are expected to receive an average of $135,000, per the long-form settlement agreement.
The money for NIL damages is being allocated into three categories—broadcast NIL, video game NIL, and lost NIL opportunities. According to On3’s Pete Nakos, previously submitted documents reveal that “95% of the additional compensation net settlement fund will be allocated to the Power Five football and men’s basketball portion with a distributed ratio of 75/15/5 percent.”
The first back-pay installment is due May 15, 2025, or within 45 days of the settlement being finalized. While the final approval date is scheduled, there is the potential for legal appeals to be submitted in the interim.
Read the full story on SwimSwam: Former NCAA Student-Athletes Can Now File Claims For Backpay As Part of House v. NCAA