Richmond Opts in to House v. NCAA Settlement

Summary

Division I collegiate athletics has been an integral part of the Richmond student experience for decades; the landscape of collegiate athletics is changing at a rapid pace.
The House v. NCAA settlement impacts all D-I institutions and has three primary elements including back damages, roster limits in lieu of scholarship limits, and the ability to provide enhanced benefits including direct payments to student-athletes.
UR will opt-in by March 1 and provide enhanced benefits to both men’s and women’s basketball players beginning in the 2025-26 school year.
Opting-in will allow men’s and women’s basketball to remain competitive on a national stage. Payments to men’s and women’s basketball will be sourced from philanthropy and additional Athletics revenues.
Spider student-athletes in programs other than basketball will remain eligible to receive external NIL income subject to NCAA rules, and Spider Athletics will continue to provide resources to assist them in that effort.

Introduction of NIL Compensation in 2021 Leads to Changes, Litigation

NCAA introduced rules allowing student-athletes to earn money for the use of their Name, Image, and Likeness (NIL) from external sources in July 2021.
State laws, NCAA rules, and additional litigation have expanded opportunities for student-athletes to be paid by external sources for their NIL rights.
House v. NCAA is a class action lawsuit filed on behalf of D-I student-athletes who competed before NIL compensation was allowed (dating back to 2016).

Proposed House Settlement
The proposed House Settlement includes:

Payment of approximately $2.8 billion in back damages to student-athletes nationally who competed in Division I athletics between 2016 and 2024
Current Division I institutions will be eligible to provide enhanced benefits, including direct payments to student-athletes, beginning July 1, 2025 (pending final judicial review on April 7, 2025)
NIL payments from entities or individuals associated with a school to go through a fair-market-value assessment
Implementation of roster limits, which would cap the number of players on a given team, and the elimination of scholarship limits, which would allow schools to offer scholarships to all players on a roster if desired

Nos. 1 and 3 will apply to all D-I athletics programs if the settlement is approved, while Nos. 2 and 4 apply to schools that opt in to the terms of the settlement. All D-I schools outside of the power conferences (ACC, Big Ten, Big 12, SEC) had the choice to opt in to the settlement.

Richmond’s Decision to Opt-in to the House Settlement

UR will opt-in and provide enhanced benefits to both men’s and women’s basketball players beginning in the 2025-26 school year.
Opting-in will allow men’s and women’s basketball to remain competitive on a national stage. Payments to men’s and women’s basketball will be sourced from philanthropy and additional Athletics revenues.

The Importance of Richmond’s D-I Athletics Programs

The University’s strategic plan recognizes the importance of athletics in bringing Spiders together and engaging with UR’s greater community.
By opting-in to the settlement, Richmond Basketball will be able to maintain its status as a program that competes regularly for Atlantic 10 championships and advances to the NCAA Tournament.
Generations of Spiders have celebrated championship moments that stand out as milestones in our history, including our 1968 Tangerine Bowl title, our 1988 and 2011 berths in the Sweet 16 of the Men’s Basketball Championship, our win in the 2008 FCS National Championship Game, and our women’s basketball Atlantic 10 regular season and conference tournament titles last year, among many others.
Championship-level competition provides teamwork and leadership lessons for Spider student-athletes and uniquely prepares them for the challenges they will face following their time on campus.
The Spider Athletics experience is one of the best in the nation, and our world-class Spider Performance program provides support for our student-athletes in helping them achieve their academic, athletic, personal, and professional goals.
Spider student-athletes participate in rigorous academics and boast an average cumulative GPA of 3.36, while 77% maintain a cumulative GPA of 3.00 or greater. Spider Athletics’ Graduation Success Rate of 98% is tied for sixth highest in all of Division I.

Other Spider Athletics Teams and the House Settlement

Spider student-athletes in programs other than basketball will remain eligible to receive external NIL income subject to NCAA rules, and Spider Athletics will continue to provide resources to assist them in that effort.
Those resources include the Richmond Spiders NIL Marketplace and Athlete’s Thread.

House Settlement Roster Limits and Spider Athletics

Men's Sports	Roster Limit	Women's Sports	Roster Limit
Baseball	34	Basketball	15
Cross Country	17	Cross Country	17
Basketball	15	Field Hockey	27
Football	105	Golf	9
Golf	9	Lacrosse	38
Lacrosse	48	Soccer	28
Tennis	10	Swimming & Diving	30
		Tennis	10
		Track & Field (Indoor)	45
		Track & Field (Outdoor)	45

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