NCAA and power conferences agree to settlement paving the way for schools to pay student-athletes

(CNN) —& The National Collegiate Athletic Association and the Power Five conferences have agreed to a settlement, paving the way to allow schools to pay student-athletes, a profound moment ushering in a new age in college sports. The NCAA, the governing body for college sports, and the leaders of the Big Ten, Southeastern, Pac-12, Atlantic Coast and Big 12 conferences& announced& the settlement Thursday night. According to multiple reports citing unnamed sources, the agreement& to settle& three antitrust cases includes the payment of more than $2.7 billion in damages to past and current student-athletes. Per ESPN,& sources said the parties have agreed to a revenue-sharing plan which will allow each school to share up to “roughly $20 million per year with its athletes.” All Division I athletes who have played since 2016 are eligible to receive a share. In exchange, any athletes who receive& a share cannot sue the NCAA for other potential antitrust violations& and drop their complaints in the three antitrust cases – House v. NCAA, Hubbard v. NCAA and Carter v. NCAA,& according to ESPN. Reports added Judge Claudia Wilken, who is presiding over the three antitrust cases, must& still& approve the settlement terms, which could take...