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The Journal.

$2.8 Billion for College Athletes and a New World for the NCAA

The Journal.

The Wall Street Journal

Daily News, Business News, News

4.25.3K Ratings

🗓️ 28 May 2024

⏱️ 17 minutes

🧾️ Download transcript

Summary

For over a century, the NCAA has refused to pay athletes. After a recent settlement, that’s going to change. The organization has agreed to set aside $2.8 billion in back payments for some student athletes and moving forward, allow players to get a cut of television revenue. WSJ’s Jared Diamond explains what it might mean for the future of college athletics. Further Reading: -NCAA Agrees to Share Revenue With Athletes in Landmark $2.8 Billion Settlement -He Was the $13 Million QB Recruit. Now He’s Suing the Boosters Who Never Paid Up. Further Listening: -Why an Ivy League Basketball Team Voted to Unionize -The TikTok That Changed College Hoops Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

College sports, from football to lacrosse to field hockey, have been based on the idea

0:11.0

that the athletes who play are students first and amateurs on the field,

0:16.4

meaning they don't get paid for playing.

0:21.0

For a century plus, the NCAA has treated the idea of athlete compensation as this

0:28.1

existential threat that would destroy college sports. That's our colleague Jared Diamond. For years the

0:36.2

N. C. Double A, the organization that regulates student athletics and the major

0:40.4

athletic conferences have said that paying student athletes was impossible.

0:46.4

But last week, those organizations were forced to reconsider.

0:50.7

It's a new era in college sports after a landmark agreement last night between the NCAA and the most powerful conferences.

0:58.0

Yeah, the deal caused for college athletes to be paid directly by their schools.

1:02.0

In a monumental move, the NCAA board... to be paid directly by their schools.

1:02.5

In a monumental move, the NCAA board approved a settlement in its antitrust lawsuit.

1:07.6

It would officially end amateurism in college sports.

1:11.7

In order to settle a lawsuit, the NCAA agreed to set aside 2.8 billion dollars in

1:17.2

back payments for some student athletes and moving forward allow players to get a

1:22.1

cut of television revenue.

1:24.0

And the settlement is bringing up all kinds of questions.

1:28.0

This is one of the biggest most seismic moments in the history of college sports.

1:35.1

The bedrock of college sports forever without athletes or amateurs, they can't be paid.

1:41.5

The idea now that the NCAA is agreeing to allow schools to

1:46.9

pay athletes directly is absolutely seismic. It completely upends the entire paradigm of college sports

1:56.3

that's existed for a hundred plus years and now it feels like anything is truly possible.

...

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