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IRVING, Texas — Officials around the American Athletic Conference expressed frustration with the resolution of the House v. NCAA settlement and how it will affect the league heading forward.
“Frustration and disappointment are probably the couple of words you hear from a lot of us outside of the Power Four,” North Texas athletic director Jared Mosley told CBS Sports on Thursday. “Just because a lot of this was kind of sprung on us … the fact we’re going to now have to take a significant chunk of this [back pay] to what we’ve been told is going to be 90% Power Five football and basketball players, it’s just hard to reconcile how we’re taking current opportunities and services away from our students for a problem we didn’t necessarily create.”
The settlement, which is still pending approval from a judge, is slated to pay $2.8 billion over the next 10 years in back damages to former college athletes from 2016-21. The NCAA office will take on a portion of the settlement. Out of the remaining amount, 40% will be paid by the legacy Power Five, with 60% coming from the Group of Five, FCS and non-football Division I leagues.
If the NCAA did not settle, damages instituted by a judge could have been enough to bankrupt the organization.
“We thought [the settlement] was necessary, we understand the threat of bankruptcy,” AAC commissioner Mike Aresco said. “But what we didn’t appreciate is we really didn’t get involved in discussions early on, and yet we were responsible for a part of it.”
The five power conferences were all named parties to the House v. NCAA lawsuit, along with the NCAA. Because of that, each of them — as they existed when the lawsuit was filed in 2021 — needed to approve the settlement. Approval from Group of Five…
Source link : https://www.cbssports.com/college-football/news/vexed-by-house-v-ncaas-huge-settlement-aac-officials-shift-to-survival-mode-in-college-athletics-new-world/
Author : Shehan Jeyarajah
Publish date : 2024-05-30 20:33:25
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