A vote this week could cost the NCAA nearly $3 billion and create a landmark revenue-sharing system with college athletes.
FILE – Wisconsin’s Traevon Jackson dribbles past the NCAA logo during practice at the NCAA men’s college basketball tournament March 26, 2014, in Anaheim, Calif. University presidents around the country are scheduled to meet this week in May 2024, to vote on whether to accept a proposed settlement of an antitrust lawsuit that would cost the NCAA nearly $3 billion in damages.
About $1.6 billion of that will be from withheld distributions to member schools — money that would normally be sent to the schools by the NCAA, according to several people with direct knowledge of the proposal. They spoke with The Associated Press on condition of anonymity because settlement details were not being discussed publicly.
“Basketball-centric leagues are really getting hit,” said an administrator from a conference that does not compete in the highest tier of Division I football, known as the Bowl Subdivision.were nearly $1.3 billion last year, most of which comes from its television rights contract for the men’s Division I basketball tournament with CBS and Warner Bros. Discovery.
Leaders of the smaller conferences have sent multiple memos to the NCAA to raise concerns. In one letter, obtained by AP on Monday, the non-Bowl Subdivision conferences said they support the need for a settlement.
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