The settlement of House v. NCAA was given final approval by Judge Claudia Wilken on Friday night, allowing colleges to directly pay players via revenue sharing for the first time.

The stamp of approval from Wilken of the United States District Court for the Northern District of California was long expected, and the settlement marks the end of the NCAA's previous model of amateurism, in which athletes were not allowed to earn money while in school.

Beginning July 1, schools can share up to $20.5 million of their revenues with their athletes. That cap will increase by at least 4 percent each year for the next 10 years.

Schools that exceed the $20.5 million cap will be penalized by the College Sports Commission, the recently established enforcement arm that goes into effect following the s

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