Judge OK's $2.8B settlement, paving way for colleges to pay athletes

Hot off the presses! A judge has approved a deal between the NCAA several collegiate conferences and lawyers representing ALL Division I athletes. The deal will make it legal for colleges to begin paying athletes directly.

This is monumental in terms of a shift in power in college athletics. Schools and athletes have only been operating in the Name, Image, and Likeness model for a couple of years and to say there has been a dark shadow over college sports in terms of transparency is an understatement. Allowing colleges to pay athletes directly doesn't necessarily level the playing field - the schools with the most money still have an advantage over those without large endowments. But it does legalize paying athletes directly and that is a significant thing. 

What does this mean for athletes? Unfortunately, it doesn't do anything to protect them, educate them, or help them prepare to be financially responsible. Taxes on payments (now legal source income), unscrupulous agents and personal representatives, family and friends who see the athlete as a way to enrich themselves - these are some the things that these athletes need to worry about. Over the coming weeks, we'll continue to dive into this issue to shine a light on an ecosystem that has anything but the best interests of athletes at heart.

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