INDIANAPOLIS (AP) -- According to a tentative class-action lawsuit settlement, the NCAA has agreed to set aside 10 million dollars to compensate former student-athletes for educational expenses.
The governing body for college athletics will make the money available over a three-year period. It's to offset expenses like degree completion, resume preparation and career counseling, says NCAA spokesman Bob Williams.
He says the agreement was reached yesterday but it has yet to be approved by a judge. After that, the parties involved have a chance to review it before they decide to accept it.
The lawsuit was filed in February 2006 on behalf of some former athletes, and the case has grown to about 12,000 people in the class-action.
The lawsuit contended that NCAA limits on scholarships are an unlawful restraint of trade because of the billions of dollars generated from TV, radio, licensing and other agreements through major college basketball and football.