Report: Big 12 first to approve House settlement

Big 12 presidents and chancellors today voted to "approve proposals of what is expected to be a multi-billion dollar settlement in the House v. NCAA class-action lawsuit," according to a source. Their approval is "another step toward a resolution in the landmark case likely to reshape the college sports business model." The Big 12 is the "first of the suit’s defendants to vote on the settlement terms," with the remaining power conferences and NCAA Board of Governors also "expected to do so this week." Sources said that settlement details are expected to include north of $2.7B in "back-pay damages the NCAA will owe to former Division I athletes," as well as a "future revenue-sharing model between power-conference schools and athletes." If finalized, a process that "will take several months," the settlement would be the "next and most significant overhaul to the long-standing framework of amateurism in college sports" ( THE ATHLETIC, 5/21 ).