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The NCAA Board of Directors overwhelmingly approved a package of historic reforms Thursday that will give the nation's five biggest conferences the ability to unilaterally change some of the basic rules governing college sports.
If the 16-2 decision stands, there will be striking differences between the 65 largest schools and the more than 280 others in Division I beginning as early as Oct. 1, though few expect change to come that quickly.
Representatives from the five richest leagues - the ACC, Big Ten, Big 12, Pac-12 and SEC - will hold nearly twice as much voting power (37.5 percent) as any other group on a newly created council, where most legislation will be approved or rejected.
Critics worry that the impact will create an even greater split between wealthy leagues and everyone else.
This segment aired on August 7, 2014.