{"id":65008,"date":"2024-08-10T00:24:04","date_gmt":"2024-08-10T05:24:04","guid":{"rendered":"https:\/\/demo.wztzfm.com\/wp\/?p=65008"},"modified":"2024-08-10T00:24:04","modified_gmt":"2024-08-10T05:24:04","slug":"fontenot-v-ncaa-plaintiffs-lawyers-ask-judge-to-deny-approval-of-proposed-house-settlement","status":"publish","type":"post","link":"https:\/\/demo.wztzfm.com\/wp\/fontenot-v-ncaa-plaintiffs-lawyers-ask-judge-to-deny-approval-of-proposed-house-settlement\/","title":{"rendered":"Fontenot v. NCAA plaintiffs\u2019 lawyers ask judge to deny approval of proposed House settlement"},"content":{"rendered":"

Lawyers for the plaintiffs in the Fontenot v. NCAA<\/em> case submitted a filing to ask U.S. district judge Claudia Wilken<\/strong> to deny approval of the landmark House<\/em> settlement<\/a><\/strong>. Wilken is set to make a ruling on Sept. 5.<\/p>\n

It\u2019s the latest opposition to the House<\/em> settlement, which the Power 5 conferences and the NCAA agreed to in late May. Pending Wilken\u2019s certification, the settlement would effectively usher in the revenue-sharing era in college athletics.<\/p>\n

As part of the agreement, the NCAA and Power 5 would pay $2.776 billion in back damages over 10 years, On3\u2019s Pete Nakos<\/a><\/strong> reported \u2013 a much smaller number than the potential $20 billion figure. That $2.776 billion includes $1.976 billion for the NIL damages claims and $600 million in additional compensation.<\/p>\n

However, the lawyers for the plaintiffs in the Fontenot<\/em> case argue the House<\/em> settlement is \u201cjust pennies on the dollar,\u201d according to the filing. <\/p>\n

\u201cThe movants did not express any interest in litigating those claims, and the proposed settlement undervalues them,\u201d the filing read<\/a>. \u201cThe movants value the Fontenot<\/em> fair pay claims at a little over $1.8 billion. That evaluation, however, adopts economic assumptions favorable to the NCAA, essentially assuming that a jury would side with the NCAA on what goes into the revenue pool and what credits the NCAA might be granted towards the fair pay calculation.<\/p>\n

\u201cTo calculate the possible<\/em> value of the claims, the Fontenot<\/em> plaintiffs obtained an independent, preliminary estimate from a respected economist: over $24 billion. The movants plan to devote $600 million of the fund to these claims, meaning movants are proposing to settle the claims for just pennies on the dollar \u2013 before trebling.\u201d<\/p>\n

The House<\/em> settlement includes three antitrust suits against the NCAA: House<\/em>, Carter<\/em> and Hubbard<\/em>. A judge ruled the Fontenot<\/em> case would proceed outside of those three, though, and remain in Colorado, where former Colorado<\/a><\/strong> quarterback Alex Fontenot<\/strong> filed the class-action suit<\/a><\/strong> in November. He alleged that NCAA rules that prohibit athletes from receiving compensation from schools and leagues violate antitrust law.<\/p>\n

The House<\/em> settlement has potential to change the college athletics landscape dramatically. Revenue-sharing is a central part of it, as schools would be able to opt-in and share up to $22 million with athletes \u2013 a number calculated as a portion of their annual revenue. Roster limits<\/a><\/strong> would also go into place, meaning football would go from 85 scholarships to 105 if programs choose to do so.<\/p>\n

The post Fontenot v. NCAA plaintiffs\u2019 lawyers ask judge to deny approval of proposed House settlement<\/a> appeared first on On3<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Lawyers for the plaintiffs in the Fontenot v. NCAA case submitted a filing to ask…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-65008","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/posts\/65008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/comments?post=65008"}],"version-history":[{"count":1,"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/posts\/65008\/revisions"}],"predecessor-version":[{"id":65048,"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/posts\/65008\/revisions\/65048"}],"wp:attachment":[{"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/media?parent=65008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/categories?post=65008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/tags?post=65008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}