JACKSON, Miss. (WJTV) – A federal judge approved a nearly $3 billion settlement, clearing the way for colleges to pay student athletes.

Schools that opted into the House vs. NCAA settlement will be allowed to share revenue with student athletes. Lt. Governor Delbert Hosemann (R-Miss.) said there are no rules or regulations in place as to how those dollars should be spent.

WJTV 12 News asked Hosemann if male sports and female sports will get the same amount.

“They are controlled not to exceed the $20.5 million per year. So, they’ve put a cap on the amount of money that student athletes can get indexed for inflation. So, that’s a very big point,” he said. “And you’re right, it doesn’t cover tennis. So, are we going to have tennis? Are you going to have track and field?”

A university can choose to spend $15 million on football and the rest on basketball. As a result, high school athletes in Mississippi might play out of state for more money.

“Those kids will have opportunities elsewhere, maybe for more money. So, I don’t know that we’ll have this the local culture that we always had back when all our kids played, you know, that played in Magee or they play in the Delta or wherever,” Hosemann said.

He said universities will pay about $2 million a year over 10 years to athletes who competed from 2016 until name, image and likeness started to pay off the $2.8 billion settlement.

The settlement is expected to go into effect on July 1.