Payments Mark the Start of a New Era in College Sports
UCLA has distributed $4.8 million to its athletes as part of a landmark revenue-sharing model that fundamentally changes how college players are compensated, Athletic Director Martin Jarmond announced Thursday in an interview with Bloomberg News.
Speaking at the Bloomberg Power Players event in New York, Jarmond said payments to student-athletes began last month and will continue in the coming weeks.
“A lot of checks are being signed,” Jarmond said. “And more to come.”
The payouts stem from a court settlement earlier this year that introduced a new financial framework for college sports, allowing schools to share up to $20.5 million annually with athletes.
UCLA, a member of the Big Ten Conference, is distributing the funds through a newly announced partnership with PayPal Holdings Inc., which will manage and process payments to student-athletes across the conference.
