The House Settlement is approved by a judge, and that is good news for thousands of former NCAA athletes. The NCAA is agreeing to pay $2.8 billion in lost NIL earnings to athletes, per Yahoo Sports. Schools are also chipping in to help cover all the costs, per college sports reporter Ross Dellenger.

NIL stands for name, image and likeness, which allows athletes to make profits while they play for colleges. As a result of the settlement, athletes who played in the last decade will be eligible for the funds.

These back payments are expected to start going out soon. The distribution is determined using a formula to calculate each player's value, per Dellenger.

Most of that $2.8 billion is going to athletes who played football or men's basketball for a power 4 conference school. Those

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