On July 26, 2024, settlement documents were filed with the Northern District Court of California to further the legal process in resolving three cases pivotal to college sports - House v. NCAA, Hubbard v. NCAA, and Carter v. NCAA - which revolve around back damages and future benefits (including expanded NIL benefits and opportunities) for Division I student-athletes. The three class action lawsuits underlying the settlement involve the NCAA and the five major athletic conferences: the Atlantic Coast Conference, Big Ten Conference, Big 12 Conference, Pac-12 Conference, and Southeastern Conference, collectively known as the Autonomy 5 or A-5 conferences.

The settlement proposes payment of back damages of approximately $2.78 billion, to be paid over 10 years, the distribution of which will be determined by the plaintiffs; increased benefits and NIL opportunities, which could include up to 22% of A-5 revenues from media deals, ticket sales, and sponsorships being paid to student athletes; college institutions could pay student athletes directly for their NIL rights, subject to the 22% cap, and other oversight; and, scholarship limits will be eliminated in all sports, and replaced by roster limits. 

It is still yet to be seen how this settlement will be reconciled against state law and federal policies. However, if approved, this settlement will be a landmark ruling for college sports that provides exponential financial benefits to student athletes.