NCAA statement on House settlement

The inevitable became reality, and college athletics has, yet again, ushered in an all-new era of change.

On Thursday, with the nation's most powerful sports conferences finding ground with the primary governing body, the NCAA, a settlement was reached in the headline House vs. NCAA case that, per its terms, provided for direct student-athlete compensation -- or, as a Big Ten coach flatly told FootballScoop, "Revenue sharing."

The 10-year agreement has been agreed upon by all parties and could begin recognizing payment benefits to athletes before summer's end.

With the news public, the NCAA issued a statement on the matter -- which had caused considerable contention among organization members from its top levels in the Big Ten and SEC to its lower-tiered, Group of Five constituents.

"The five autonomy conferences and the NCAA agreeing to settlement terms is an important step in the reform of college sports that will provide benefits to student-athletes and provide clarity in college athletics across all divisions for years to come," the NCAA said in its official statement. "This settlement is also an important road map for college sports leaders and congress to ensure this uniquely American institution can continue to provide unmatched opportunity for millions of students."

While there are requisite hurdles remaining in order to fully enact the terms of this settlement, the general consensus is that schools should be positioned to offer a new revenue-sharing model to their respective student-athletes no later than the fall 2025 academic calendar, be it the semester or quarters system.

A Big Ten source with knowledge this week told FootballScoop that the move is expected to result in upwards of "$20 million in revenue sharing coming in 60 days, $10 million for guys, $10 million girls."

While the legal and jurisdictional systems don't often move that relatively quickly, the comment sheds insight on the urgency to resolve this matter to help college athletics -- and specifically the NCAA -- stabilize to move forward.

The NCAA's full statement is below: