NCAA releases details of proposed $2.78 billion settlement with former athletes

The NCAA and its power-five conferences filed a plan to pay out nearly $3 billion to former athletes in a settlement of an antitrust class-action lawsuit.

The proposed deal also paves the way for schools to directly compensate athletes while attempting to regulate payments from boosters.

"NCAA college athletes have waited decades for this moment, and their right to receive the full value of their hard work has finally arrived," said Steve Berman, managing partner and co-founder of the Hagens Berman law firm.