Inside the $2.8 Billion Windfall: How Former NCAA Athletes Are Finally Cashing In on Lost NIL Earnings
NIL stands for name, image and likeness, which allows athletes to make profits while they play for colleges. As a result of the settlement, athletes who played in the last decade will be eligible for the funds.
These back payments are expected to start going out soon. The distribution is determined using a formula to calculate each player’s value, per Dellenger.
Most of that $2.8 billion is going to athletes who played football or men’s basketball for a power 4 conference school. Those conferences are the Big Ten, SEC, Big 12 and ACC.
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