The NCAA's national office could be on the hook for $2.7 billion as part of the association's recently reported settlement in the landmark House v. NCAA lawsuit related to antitrust cases.
According to ESPN, which cited unnamed sources, the parties involved in the case have suggested that the NCAA's national office, rather than individual member schools or conferences, cover the settlement over a period of 10 years. The payments would be dispersed to former college athletes who say they were illegally prevented from making money by selling their name, image and likeness.
The settlement is reported to include a commitment from conferences and member schools to share revenue with athletes moving forward. Sources told ESPN that schools are anticipating a ceiling of $20 million per year for athlete revenue sharing going forward.
Steve Berman, co-lead counsel for the plaintiffs in the case, said he believes their case is growing stronger as it moves closer to trial.
"Our leverage is a big cannonball rolling down a hill and picking up speed," Berman said. "The longer they wait, the more they're going to have to pay. It's that simple."
One potential impact of the settlement would be the possible elimination of future antitrust lawsuit agains the NCAA and its schools.
"I'm very concerned about the fact that a settlement is really not a settlement," an industry source told ESPN concerning looming issues that need to be resolved before settling. "It doesn't have enough protections. If it were an all-encompassing settlement with congressional approval, I'd feel a lot better."
