Ohio State University is now able to pay its student athletes.
After a long legal battle between Division 1 athletes and the NCAA, a settlement was approved on June 6 that paves the way for college athletes to receive financial compensation. As a result of this decision, OSU is now allowed to spend $20.5 million to pay student athletes.
Around $18 million will go toward paying the athletes for their name, image and likeness.
Ohio State’s Athletic Director Ross Bjork announced that the money will pay athletes playing for the university's football, women's volleyball and men's and women's basketball teams.
Another $2.5 million will go toward funding 91 new scholarships for student athletes playing for 36 different teams.
All future scholarships must come from the $20.5 million, but cannot exceed $2.5 million.
“This is more opportunity for athletes than ever before, directly from the institution,” said Bjork. “It’s four sports. It’s $18 million. And then that’ll grow by 4% a year.”
As the amount of money grows, it will be allocated to other teams as well.
The College Sports Commission was also created on June 6 after the decision. The commission will oversee the new rules of the settlement, alongside the NCAA, which will oversee existing rules.