CHARLOTTESVILLE, VA (CVILLE RIGHT NOW/AP) – A U.S. judge has granted preliminary approval for the NCAA’s $2.78 billion settlement, set to reshape college sports by permitting schools to pay athletes through revenue-sharing arrangements. U.S. District Judge Claudia Wilken’s order, issued Monday, establishes an October 18 start date for athletes to apply for their share, with a final approval hearing slated for April 7, 2025.

If finalized, the deal will direct around $21.5 million annually to athletes from major universities, recalculated periodically over the agreement’s 10-year span.

Additionally, $2.576 billion is allocated to former college athletes from as early as 2016, who may seek compensation for name, image, and likeness (NIL) earnings barred until 2021.

NCAA President Charlie Baker described the approval as pivotal, emphasizing its role in securing “stability and sustainability” for college athletics. This revenue-sharing approach addresses long-standing criticisms of limited compensation for athletes, contrasting with lucrative gains by coaches and institutions.

Unresolved matters include ongoing litigation regarding player unionization and employment status, as well as the NCAA’s pursuit of federal regulations to unify NIL policies across states.