From ESPN:

Four ex-Michigan players, including former quarterback Denard Robinson and wide receiver Braylon Edwards, have filed a class action lawsuit against the NCAA and Big Ten Network seeking more than $50 million for being "wrongfully and unlawfully denied" the opportunity to earn money off their name, image and likeness.

The lawsuit says the NCAA and Big Ten Network "have systematically exploited these iconic moments" that the players created during their careers at Michigan. The lawsuit is on behalf of those who played for Michigan before 2016.

Any Division I athlete who played a sport from 2016 to present day is eligible for past damages. The 2016 cutoff is due to the statute of limitations on the initial House v. NCAA lawsuit, which was filed in 2020.

"The NCAA knew for decades that preventing players from monetizing the one thing of value they have -- their name -- was wrong and unlawful," said Jim Acho, the plaintiffs' attorney. "Today they recognize that players should have that right. But what about all the past players who were unlawfully denied that right? The money made off those players' backs was in the hundreds of millions. ... The players never saw a dime.

"... We are here to right that wrong."

Former Michigan defensive end Mike Martin (played at Michigan from 2008-2011) and linebacker Shawn Crable (2003-2008) joined Robinson (2009–2012) and Edwards (2001–2004) in the suit against the Big Ten Network and NCAA. 

This isn't about Michigan—it could be players from any school (and presumably players from other schools will follow with lawsuits of their own—everyone will be watching this). 

Q: Should the line be firm at 2016 or should it continue to inch backward?
Q: Should former student-athletes who were given an opportunity to get a free education and earn a college degree to advance their lives but didn’t retroactively be permitted to demand recompense for unrealized NIL from when they played 20, 30, 40 or even 50 years ago?