Brett Yormark glad to see House settlement approved

Big 12 Commissioner Brett Yormark said that he was pleased to see the long-awaited approval of the House settlement late last week. The final ruling comes 59 months after the class-action suit was filed.

Yormark recently joined hosts of Big Noon Kickoff Urban Meyer, Mark Ingram and Rob Stone during an episode of their Triple Option Podcast, and revealed his initial reaction to the settlement’s approval. He explained why this model is a step in the right direction for NIL within college athletics.

“Glad it was approved. We’ve been waiting,” Yormark said. “It’s been a waiting game for us for a long time. I think I can speak on behalf of my commissioner colleagues, but happy judge Claudia Wilken ultimately approved settlement. We’re in a better place today as an industry than we’ve been in a long time, and there’s guardrails, there’s rules of engagement, there’s a new model, and as they often say to my board, my ADs, and anyone that’ll listen, it’s progress over perfection.

“It’s going to be a little clunky. It’s not going to be perfect coming out of the gates, but it’s better than where we’ve been, and a lot of progress has been made.”

The overall response to the settlement has been a positive one, as it ushers in a new era with NIL in college athletics. The settlement’s approval will see power conference schools share $20.5 million with athletes beginning July 1. Football will receive 75% of this total amount, followed by men’s basketball (15%), women’s basketball (5%) and the remainder of the institution’s sports (5%). 

In addition, the NCAA will have to pay $2.776 billion in back damages over the next decade to former college athletes who had competed after 2016. Roster limits and new NIL clearinghouses for third-party deals were all a part of the settlement as well.

Yormark expects there to be a learning curve once these sweeping changes are implemented beginning next month. With several years to prepare for this outcome, to Yormark, the hard work begins now.

“The implementation committee that has been preparing us for this moment, made up of practitioners across the industry, have worked tirelessly to make sure that there’s this new model in place that provides rules and that governs the future of collegiate athletics, so I’m excited about it,” Yorkmark said. “… I’ll be with my commissioner colleagues next week, and we’re going to roll up our sleeves and go at it.”