KNOXVILLE, Tenn. — Current and former University of Tennessee student-athletes could start seeing more money in their bank accounts after a judge decided to further a $2.78 billion settlement that would allow schools to pay their student-athletes.
This money would be in addition to funds received through name, image and likeness deals.
Nothing is set in stone until a final decision is made in early April, but Knoxville Quarterback Club President Jeff Hagood said it's stirring up excitement and uncertainty. He said it could affect more than just players.
"I think general managers and personnel, people are gonna get paid a lot more money. They're gonna be the NFL model," Hagood said. "I think it's gonna be really, really important to recruit and keep your leaders."
The settlement would allocate a $21.5 million "pool" of money to be distributed to athletes. It's likely the money would not be split evenly among the 650 student-athletes at UT.
"Our big revenue sport, of course, is football. But basketball is a revenue sport. Baseball has been great around here," Hagood said. "I think that everybody that's affiliated with one of those sports is gonna have a heck of a lot more money this year than they did last year."
NIL deals, transfer portals and now this settlement has raised questions about fairness across Division 1 sports, especially when it comes to recruiting athletes. Hagood said those ought to be answered.
"How we get a salary cap, how we make it work and how to kind of level the playing field, how it's policed are all very, very important questions," Hagood said. "Congressional activity in this collective bargaining, all of those kinds of issues need to be talked about."
Former student-athletes dating back to 2016 can also apply for money with this settlement, in an attempt to get their share of money they missed out on through NIL deals. Players can apply for that money beginning Oct. 18.