The NCAA and its biggest conferences could be facing a $1 billion lawsuit.

On Tuesday, attorneys representing two former college athletes filed a federal antitrust lawsuit against the NCAA and the Power Five conferences seeking retroactive educational payments for college athletes from 2018-2020. 

Winston & Strawn LLP and Hagens Berman Sobol Shapiro LLP argued that in light of the Alston ruling — which allowed college athletes to profit off their name, image, and likeness — at least 5,000 and as many as 20,000 athletes are owed back pay for the 2018-19 and 2019-20 seasons. The two firms won the Alston case in June 2021.

Carolina Panthers running back Chuba Hubbard, formerly of Oklahoma State, and Auburn track athlete Keira McCarrell are the named plaintiffs in the case.

They are claiming damages of at least $200 million and as much as $1 billion for the class of affected athletes.

“I think most people would say that the NCAA and its various sports are successful as they’ve ever been [despite NIL],” said Winston & Strawn co-executive chairman Jeffrey L. Kessler. “They just had the highest-watched women’s tournament in history by far and probably the most competitive parity in the men’s tournament.”

The next steps involve depositions to determine NIL figures from schools, followed by a class certification hearing in September.

A dip in Microsoft’s stock knocked Steve Ballmer off his perch as the world’s richest sports owner.

Mukesh Ambani, owner of the cricket team the Mumbai Indians in the Indian Premier League, is the world’s richest team owner, according to Forbes. 

Ambani (net worth $83.4 billion) is founder and chairman of Reliance Industries, a conglomerate with interests in energy, retail, telecommunications, and more. Reliance has also been growing its cricket empire with teams in South Africa, the United Arab Emirates, and the new Women’s Indian Premier League.

Ballmer ($80.7 billion), who can often be spotted courtside at home games of his Los Angeles Clippers, is funding the construction of the team’s future home: the $2 billion Intuit Dome slated to open in 2024.

Of the top 20 richest owners, eight own soccer teams. Of those, Stade Rennais owner François Pinault has the highest net worth at $40.1 billion.

He’s sandwiched between Walmart heir Rob Walton ($57.6 billion), who bought the Denver Broncos last year, and Mark Mateschitz ($34.7 billion), who inherited 49% of Red Bull, along with stakes in Red Bull Racing, the New York Red Bulls, and RB Leipzig from his late father, Dietrich Mateschitz.

The sixth name on the list, OGC Nice owner James Ratcliffe ($22.9 billion), is working to acquire Manchester United, one of the most valuable teams in the world.

A European arbitration council dealt the DP World Tour a victory in its legal fight with LIV Golf. 

The three-person Sports Resolutions panel ruled DP World Tour has the authority to fine and suspend players who compete in conflicting LIV Golf events, a source with knowledge of the decision confirmed to Front Office Sports. 

The ruling is expected to be released publicly on Thursday, which coincidentally comes as 18 LIV Golf players and other top players from around the world will play in the first round of the Masters. 

“If that is the outcome, then that certainly changes the dynamic of everything,” said four-time major champ Rory McIlroy. 

The Times of London was the first outlet to report the decision, which can be appealed. 

LIV Golf players Ian Poulter, Adrian Otaegui, and Justin Harding were fined $125,000 each and suspended after the trio were denied permission to play in LIV’s inaugural event at London’s Centurion Club last June. 

Those sanctions were put on hold after Poulter, Otaegui, Harding, and 10 other LIV golfers challenged the DP World Tour’s ruling that led to a five-day hearing in London earlier this year. 

The DP World Tour had been among the few ways LIV Golf players could earn points toward majors, as LIV events still don’t receive Official World Golf Ranking points. 

While the decision has no direct impact on the ongoing antitrust case between LIV and the PGA Tour, many of the arguments have been used by LIV lawyers. 

The next hearing in that case is scheduled for Friday.

The English Football League has named Sky Sports the preferred bidder and is entering exclusive negotiations for a new media rights deal.

As the frontrunner to secure EFL media rights for the 2024 season and beyond, Sky may dash the hopes of streamers DAZN, TNT Sports, and Viaplay, which hoped to pick off the rights. 

Had DAZN won the bid, it planned to stream all 1,656 matches live.

Comcast-owned Sky’s current deal with the EFL pays $147 million annually and ends after the 2023-24 season. The EFL is reportedly seeking a new rights deal worth more than $247 million. 

Sky has held the EFL’s live match rights since 2002, but that relationship seemed to be cratering in recent months as the league flirted with new potential media partners.   

The league reportedly told potential bidders it would make all 1,891 games a season available. Doing so would eliminate the longstanding Saturday 3 p.m. blackout rule designed to protect attendance at lower-league grounds.

“Clearly, Sky is far more established and reaches more fans than any other provider,” media analyst Paolo Pescatore told The Athletic.

The deal still isn’t done, but it is a “blow to DAZN’s aspirations,” noted Pescatore.