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Virginia AD Carla Williams Issues Statement Regarding Recent House Settlement

Press Release: New Era for College Athletics Following Landmark Settlement

Charlottesville, VA – June 9, 2023 – Last Friday marked a pivotal moment in college athletics as U.S. District Judge Claudia Wilkins approved the NCAA’s settlement of three antitrust cases, enabling schools like the University of Virginia (UVA) to share revenue with student-athletes. This groundbreaking agreement allows UVA to provide $20.5 million in financial support, including revenue sharing and scholarships, reshaping the landscape of sports at the collegiate level.

Carla Williams, UVA’s Athletics Director, expressed her enthusiasm for this change. "This settlement officially ushers in a new era of college athletics," she stated, outlining the university’s strategic planning over the past two years to prepare for these transformative shifts. Key investments, including the upcoming Hardie Football Operations Center and the Harrison Family Olympic Sports Center, showcase UVA’s commitment to enhancing its athletic programs.

The settlement also includes $2.8 billion in back payments for student-athletes from 2016 to 2024, highlighting the significant financial implications for both institutions and players. Notably, the revenue-sharing cap will increase by at least 4% annually over the next decade.

Recent fundraising efforts have been fruitful as UVA’s athletics foundation reported a record $15.76 million in May contributions, with donations up 71% year-over-year. This surge is critical as the university pivots to capitalize on new revenue opportunities, particularly for revenue-generating sports like football and men’s basketball.

As part of its advanced strategy, UVA is prioritizing endowment fundraising to secure the long-term viability of all its sports programs. Williams highlighted how recent targeted philanthropy within sports like men’s tennis could serve as a model for sustainability amid ongoing changes in collegiate athletics.

In the coming weeks, UVA will launch a podcast offering insights into the athletics department’s future plans and initiative updates. "Your support is essential as we embark on this exciting new journey," Williams concluded.

Go Hoos!

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