Mascots and cheerleaders from the 16 Big 12 conference schools pose for a group photo during the July 10 Big 12 media days in Las Vegas.
Thousands of former college athletes will be eligible for payments ranging from a few dollars to more than a million under the $2.78 billion antitrust settlement agreed to by the NCAA and five power conferences, a deal that also paves the way for schools to directly compensate athletes while attempting regulate payments from boosters.
Details of the sprawling plan were filed Friday in federal court in the Northern District of California, a little more than two months after the framework of an agreement was announced. The deal must still be approved by a judge.
The full term sheet includes guidelines on roster caps for individual sports that will replace scholarship limits; how the new financial payments will be monitored and enforced to ensure compliance by schools; how third-party payments to athletes will be regulated; and how nearly $3 billion in damages will be doled out by the plaintiffs over the next 10 years.
