Mizzou AD speaks on recent NCAA settlement

COLUMBIA, Mo. (KMIZ)

University of Missouri Athletic Director Laird Veatch on Thursday will speak to the media on the recent settlement reached against the NCAA.

Judge Claudia Wilken last week approved the settlement between the college sports governing body and current and former student-athletes. The athletes sued over claims the NCAA illegally limited their ability to earn money while playing sports in college. The settlement order allows for the 389,700 athletes to collect a portion of the $2.8 billion settlement as back damages.

Veatch issued a statement in an email to fans on Sunday about House v. NCAA.

“This moment marks the first time in history that college athletics departments will be able to share a portion of their revenue directly with student-athletes. Beginning July 1, schools in the SEC, and other conferences, will have the option to distribute up to an estimated $20.5 million per year to student-athletes — on top of athletics scholarships, third-party NIL earnings and other benefits. SEC institutions, and schools around the country, are committed to fairness, transparency and accountability in our new model.

“As we've shared with you previously, our Mizzou Athletics staff has spent the past year preparing for this outcome, and while we recognize the operational shifts this requires, we are approaching the new era with a sense of purpose and optimism.”