Earlier this month, college sports changed forever.

A major change to college sports here.

$2.8 billion in a settlement, now clearing the way for colleges to pay top student athletes.

It's a giant moment in the history of college sports, and it's so significant because

schools can now directly share revenue with athletes.

A federal judge approved a settlement worth more than $2.5 billion between the National

Collegiate Athletic Association, or the NCAA, and a group of current

and former college athletes.

Now, for the first time ever, schools can pay athletes directly.

The settlement includes back pay for some former college athletes, and it'll create

a new system where every Division I school can choose to pay athletes up to

$20.5 million per year collectively. Schools can start paying athletes in July.

But there's still a lot to iron out, from regulating payments to new issues around gender equity

and ensuring fair competition.

To talk about the deal and what it means for college sports,

I sat down with Charlie Baker, the president of the NCAA.

You know, if you do the math, it's pretty clear that somewhere in the vicinity of a billion dollars will be shared with student athletes every year at a minimum starting next year.

So, yeah, it's huge.

Welcome to The Journal, our show about money, business, and power.

I'm Jessica Mendoza.

It's Tuesday, June 24th.

Thank you. I'm Jessica Mendoza. It's Tuesday, June 24th. Comingheart arrives on Disney Plus.

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