Federal judge approves $2.8B settlement allowing schools to directly pay college athletes

A federal judge granted final approval on Friday to the billion settlement that will allow colleges and universities to begin paying athletes directly Judge Claudia Wilken approved the settlement on Friday that will allow schools to pay their athletes next month The sweeping terms of the so-called House settlement include approval for each school to share up to million with athletes over the next year and billion that will be paid over the next decade to thousands of former players who were barred from that revenue for years CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS COMPayouts will be determined based on the sport and the length of athletic career with largest part football and men's basketball players able to receive nearly each However the highest estimated payout is expected to be nearly million thanks to Lost NIL Opportunities according to the law firm Nearly five years after Arizona State swimmer Grant House sued the NCAA and its five biggest conferences to lift restrictions on revenue sharing Wilken approved the final proposal that had been hung up on roster limits just one of multiple changes ahead amid concerns that thousands of walk-on athletes will lose their chance to play college sports The deal covers three antitrust cases including the class-action lawsuit known as House vs the NCAA that challenged NCAA compensation rules dating back to The plaintiffs claimed that NCAA rules denied thousands of athletes the opportunity to earn millions of dollars off the use of their names images and likenesses SIMONE BILES SPARS WITH RILEY GAINES OVER TRANS ATHLETE DEBATE LAUNCHES PERSONAL ATTACK 'TRULY SICK'The NCAA lifted its ban on athletes earning money through endorsement and sponsorship deals in At one point President Donald Trump was considering an executive order to regulate name image and likeness in college sports after meeting with legendary Alabama Crimson Tide coach Nick Saban the Wall Street Journal announced On Fox News last year Saban urged Congress to step in and make NIL equal across the board And I think that should still exist for all players but not just a pay-for-play system like we have now where whoever raises the greater part money in their collective can pay the greater part for the players which is not a level playing field I think in any competitive venue you want to have certain guidelines that gives everyone an equal opportunity to have a chance to be thriving he stated The settlement also called for a clearinghouse to make sure any NIL deal worth more than is pegged at fair realm value in an attempt to thwart supposed pay-for-play deals Fox News' Ryan Gaydos and The Associated Press contributed to this statement Follow Fox News Digital s sports coverage on X and subscribe to the Fox News Sports Huddle newsletter