The era of revenue sharing in college athletics is upon us. After a federal judge finally signed off on a massive $2.8 billion settlement between the NCAA and lawyers representing student athletes, schools will be able to directly pay players for their talents as soon as July 1.

PayPal and Venmo recently released statements announcing multi-year deals with two of the biggest conferences in college sports. The two money-sharing platforms have agreed to partner with the Big Ten and Big 12 as a conduit for disbursing revenue-sharing dollars to their student-athletes.

The Big 12's agreement is worth nearly $100 million over five years and was born in 2024 after PayPal entered into discussions to buy naming rights for the conference, sources told CBS Sports. The Big 12 opted not to pursue selling its naming rights, but this partnership was the result.