UConn grants athletics director authority to sign endorsement contracts, revenue-sharing agreements with student-athletes
UConn Athletics
UConn star Alex Karaban celebrates during a game against Butler in January.
The University of Connecticut’s Board of Trustees has approved a resolution that sets the stage for the school to begin paying student-athletes starting this year.
On Wednesday, the board approved the resolution, which gives the director of the division of athletics the authority to sign all endorsement contracts and revenue-sharing agreements with student-athletes, without prior board approval, and without the need to submit the agreements to the board after execution.
At the end of each year, the athletic director will report to the board on the annual budget for all endorsement contracts and revenue-sharing agreements, the total amount spent on endorsement contracts and revenue-sharing agreements, and the number of students who received compensation.
The director’s authority to sign the agreements is contingent upon ensuring the total value of executed agreements does not exceed the budget for that year, unless approved in advance by the university president.
Beginning this spring, UConn’s Division of Athletics anticipates executing a high volume of endorsement contracts and revenue-sharing agreements for student-athletes, the school said.
But first, the pivotal House v. NCAA settlement agreement needs to be finalized, a UConn spokesperson said.
The proposed settlement involves the NCAA and Power Five conferences paying $2.78 billion in backpay to former Division I student-athletes, along with implementing a revenue-sharing model; changing college team roster sizes; and establishing a collegiate name, image and likeness enforcement agency.
Judge Claudia Wilken in the Northern District of California gave preliminary approval to the settlement on Oct. 7, 2024.
The settlement is scheduled for a hearing and final approval on April 7.
As soon as the agreement is finalized, student-athletes across the United States are expected to begin receiving competing offers from multiple universities.
In February, the state legislature enacted emergency legislation that allows student-athletes at universities, including UConn, to earn compensation through endorsement contracts and revenue-sharing agreements. State funds cannot be used.
UConn says it will only use funds generated by its Division of Athletics for the endorsement contracts and revenue-sharing agreements.
The law allows student-athletes to keep their contracts private. However, universities are required to report the total amount of revenue shared with student-athletes and the number of student-athletes receiving revenue-sharing at the end of each year.
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