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Virginia Commonwealth University will pay athletes as colleges embark on new era
VCU intends to opt in to a lawsuit settlement, joining potentially hundreds of other colleges that will compensate players for their abilities beyond a scholarship, said Ed McLaughlin, the school’s athletics director, in a recent interview.
It will be the first time colleges have openly paid their players.
The new expense will cost VCU between $4 million and $5 million per year and require the athletic department to find new streams of revenue.
'Amateurism as we know it is dead,' McLaughlin told the school’s board of visitors. 'There is a new collegiate model,'" reports the Richmond Times-Dispatch.
Photo: VCU guard Phillip Russell (1) and guard Joe Bamisile (22) celebrate during a basketball game against Bellarmine at the Siegel Center on Nov. 4, 2024. VCU men’s basketball players bring more revenue than other sports and are expected to receive the largest payments compensating them for their abilities. Mike Kropf, Times-Dispatch.