Sports figures and media personalities are celebrating after the NCAA and Power Five conferences announced they had accepted the terms of a settlement agreement related to antitrust cases.

A joint statement released by NCAA President Charlie Baker and the commissioners of the Power Five conferences confirmed their decision, according to a report citing the athletic bodies.

It is “an important step in the continuing reform of college sports that will provide benefits to student-athletes and provide clarity in college athletics across all divisions for years to come,” the statement read.

Sports author and television-radio personality Paul Finebaum lauded the announcement as an end to the NCAA “sham.”

“This is the most significant day in the history of the NCAA because the sham that the NCAA has always been is over,” Finebaum told the crew of First Take.

“They’ve always fought on every mountain to defend the right that this is really amateur athletics, when we’ve all known that has not been the case for a longtime.”

All the details of the settlement have not been confirmed, but they are the product of at least three antitrust cases and must be approved by a federal judge, the report noted.

“You’ll see a lot of ‘the NCAA fumbled the bag’ takes in the wake of the House settlement. And as an organization, sure. Ok But everyone except the athletes didn’t,” Bud Elliott posted to x.

“The people running the sport and the coaches SECURED THE BAG to the tune of hundreds of billions over decades.”

The agreement demands that the NCAA and conferences pay upwards of $2.77 billion to over 14,000 current and former student-athletes throughout a 10-year period.

Plaintiffs who brought these cases alleged that the NCAA’s amateurism model that they played under barred them from earning endorsement money and establishing sponsorship deals, according to the report.

“It would be an amazing step towards ending the NCAA’s exploitation of college athletes,” Ramogi Huma, executive director of the National College Players Association, said.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

“It would create a pathway towards out of poverty and into homeownership, owning a business.”

While the NCAA payments will likely come from reserve and insurance funds, the Power Five conferences will purportedly bear most of the strain from the payouts.