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Thread: NCAA Settles Cost of Attendance Lawsuit

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    NCAA Settles Cost of Attendance Lawsuit


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    Re: NCAA Settles Cost of Attendance Lawsuit

    If I'm reading this correctly any of our former football or men's and women's basketball players going back to the 09-10 school year will receive checks from the NCAA making up the difference up to full COA. They don't even need to fill out paperwork. I'm not sure what Tech's COA was with the US Department of Education going back the past 8 years, but the money could be substantial.


    "Thousands of college athletes who received traditional sports scholarships rather a new version that covers the full cost of attending school will be compensated for the difference."

    However, under certain circumstances, settlement money also will be available to scholarship athletes in the three covered sports even if their school, after the rules change, chose not to provide a scholarship covering the full cost of attendance. These athletes would be eligible for settlement money if their school has provided, is providing, or by June 1 indicates an intent to start providing during the 2017-18 school year any money toward the difference between the value of a traditional athletic scholarship and the full cost of attendance.

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    Re: NCAA Settles Cost of Attendance Lawsuit

    Where's that money coming from?

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    Re: NCAA Settles Cost of Attendance Lawsuit

    Quote Originally Posted by Blue Dawg View Post
    Where's that money coming from?
    From the NCAA'S financial reserves

    "Although conferences are co-defendants, all of the money in the proposed settlement pool will come from the NCAA’s financial reserves, the association said in a statement Friday night. That would all but deplete hundreds of millions of dollars the NCAA had accumulated, in part, through the establishment of a type of endowment fund intended to give the association a substantial cushion in case of a catastrophic loss of revenue from its main funding source – its multi-billion-dollar TV and marketing rights contract for the Division I men’s basketball tournament."

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    Re: NCAA Settles Cost of Attendance Lawsuit

    The ($208M settlement) deal, which must be approved by a federal judge, would be the second-largest legal settlement in the NCAA's history. Similar litigation in a case led by Stanford football football player Jason White ended in 2008 with an agreement worth just under $230 million.
    According to documents filed Friday night, for athletes covered by the settlement who played their sport for four years, the average settlement payout will be nearly $6,800.
    The settlement does not impact another portion of this case -- or another. related case -- that is challenging the NCAA’s cost-of-attendance-based limits on the compensation athletes can receive while playing college sports. In that portion of this case, and in the related case, the plaintiffs are seeking an injunction that would nullify the current limits.

    Those agreements have resulted in the NCAA paying, or committing to pay, more than $300 million.

    That figure does not include the association’s legal costs or the roughly $42 million in legal fees and costs that have been awarded for now to the plaintiffs’ lawyers in the O’Bannon antitrust case
    The proposed $208.7 million settlement will include money that will go to the plaintiffs’ lawyers for their fees and costs...25% of the settlement fund -- or roughly $52 million.

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    Re: NCAA Settles Cost of Attendance Lawsuit

    Quote Originally Posted by DogsWin View Post

    The proposed $208.7 million settlement will include
    money that will go to the plaintiffs’ lawyers for their fees and costs...25% of the settlement fund -- or roughly $52 million.
    So plaintiffs' lawyers get $52 million. Nice.

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    Re: NCAA Settles Cost of Attendance Lawsuit

    Quote Originally Posted by The Historian View Post
    So plaintiffs' lawyers get $52 million. Nice.
    Of just THIS piece of litigation. There is more coming.



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    Re: NCAA Settles Cost of Attendance Lawsuit

    Quote Originally Posted by DogsWin View Post
    Of just THIS piece of litigation. There is more coming.


    And the sad thing is you know the firm for the plaintiffs and the firm representing the NCAA probably got together a week or two after this was filed and came up with the settlement terms. The sweeter the deal gets the longer the plaintiff's firm agrees to drag it out. That allows the firm defending the NCAA to bill some serious hours.

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    Re: NCAA Settles Cost of Attendance Lawsuit

    Yep, that is a "Win / Win". Plaintiffs lawyers win and the defense lawyers win. And the judge likely wins too, but good luck proving that.

    Thanks NCAA!

    $$$$$$

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    Re: NCAA Settles Cost of Attendance Lawsuit

    And another reason I have ZERO sympathy for pampered athletes. Getting a free college education, and all the perks that go with it, is still not enough?

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