The NCAA and its five power conferences have agreed to allow schools to directly pay players for the first time in the 100-plus-year history of college sports.

The NCAA and its leagues are moving forward with a multi-billion-dollar agreement to settle three pending federal antitrust cases.

The NCAA will pay more than US $2.7 billion in damages over 10 years to past and current athletes.

The parties have also agreed to a revenue-sharing plan allowing each school to share up to roughly US $20 million per year with its athletes.

All Division One athletes dating back to 2016 are eligible to receive a share as part of the settlement class.

In exchange, athletes cannot sue the NCAA for other potential antitrust violations and must drop their complaints in three open cases: House v. NCAA, Hubbard v. NCAA and Carter v. NCAA.

The settlement terms must be approved by Judge Claudia Wilken, who is presiding over all three cases.

That process is expected to take several months, and sources said schools likely will begin sharing revenue in fall 2025.

The NCAA’s board of governors and leaders from the ACC, Big Ten, Big 12, SEC and Pac-12 voted to accept the general terms laid out in a 13-page document.

Notre Dame also agreed to the settlement as a member of the ACC.