The National Collegiate Athletic Association (NCAA) is set to revolutionize college athletics with a landmark legal settlement that allows Division I schools to make direct payments to student-athletes for the use of their name, image, and likeness. Starting this year, colleges will distribute up to $20.5 million annually, increasing by 4% each year for three years.
The settlement also provides $2.8 billion in back pay to athletes who missed out on NIL payments between 2016 and 2024 due to previous NCAA rules. Going forward, third-party NIL deals will be subject to stricter scrutiny.
LSU athletics COO Keli Zinn says the school is prepared for the changes, calling it “the biggest impact in the history of college athletics.” The settlement’s effects will be felt across various aspects of college sports, including budgeting, recruiting, and gender equity.
Source: https://www.businessreport.com/article/how-lsu-is-navigating-the-new-world-of-college-athletics