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Elite college sports conferences can set their own rules about sharing profits with student-athletes and other matters, under a new policy adopted by the NCAA's Division I Board of Directors on Thursday.

The stage is set and the Final Four are headed to Atlanta.

After the weekend's regional finals, Michigan will face Syracuse and underdog Wichita St. will face Louisville to find out who is going to the big game to decide the national championship.

Louisville vs. Duke

The NCAA women's basketball tournament's Sweet 16 round continues Sunday, with No. 1 overall seed Baylor taking on No. 5 University of Louisville. Baylor is the defending national champion, and is widely considered the team to beat in this tournament.

Baylor has been one of the most successful women's programs in the nation since head coach Kim Mulkey's first national championship in 2005. The Lady Bears have lost only one game in the past two seasons, and Brooklyn Pope, the lone graduate student on the roster, says they're mentally tougher in 2013.

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The Texas Longhorns men's swim team starts in NCAA competition in Indianapolis today. The 10-time champion Horns will compete for the top national spot and individual titles throughout this weekend.

The Horns finished no worse than second place during the last five NCAA team championships. 

The defending champion Baylor women’s basketball team moved easily through the first two rounds of the NCAA tournament.

The team beat Florida State last night 84-47. It was the final home game of the season for the Lady Bears – and the last ever for senior star Brittney Griner.

Didn't have time to watch or didn't really care? If you're not up to speed on the weekend's news from the men's and women's Division I college basketball championships, but want to be armed with a few things to talk about if someone brings up basketball today, here goes:

Another big shock from the NCAA tournament: Florida Gulf Coast "busted a load of brackets" Friday, beating second-seeded Georgetown, as The Associated Press reports.

The Florida Gulf Coast Eagles managed a 78-68 victory over the Hoyas, only the seventh time in NCAA history that a No. 15 seed beat a No. 2, the AP says.

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The UT Men's Basketball team may have lost their last game of the season Wednesday following a season resulting in a NCAA shutout, but that does not mean Austin residents have to miss out on March Madness fun.

UT's Frank Erwin Center is hosting second and third-round games of the NCAA tournament Friday and Sunday. The University of Miami is playing the University of the Pacific Friday afternoon at 1:10 p.m. Following the end of that game, the University of Illinois will play the University of Colorado. 

The NCAA tournament got off to a stunning start on Thursday: Harvard, known more for its brains and seeded No. 14, sent No. 3 New Mexico packing with a 62-68 win.

KUT News

UT Men’s Basketball team lost their opening game in the College Basketball Invitational against Houston last night. The Texas basketball season had already come to an end for the Horns without making it to the NCAA playoffs - their first shut out since the 1997-98 season.

Houston Cougars’s Daniel House set the final score to 73-72 after a mid-range jump shot with only 17 seconds left.

The University of Texas at Austin men’s basketball team is not eligible to play in the upcoming NCAA tournament. The Longhorns were not even invited to play in the NIT.

But they have accepted a bid to the College Basketball Invitational or CBI.

So what is the CBI? According to the event's website, it's a single-elimination tournament for sixteen teams "that deserve a postseason experience."

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The men’s basketball program at the University of Texas has been on a winning streak lately. That is, until last night.

The streak is over – and so is the team's season – after a 66 to 49 loss to Kansas State in the quarterfinals of the Big 12 tournament. 

The college football champion will be decided by a playoff beginning after the 2014 season.

The AP reports:

"Come 2014, the BCS is dead. A committee of university presidents on Tuesday approved the BCS commissioners' plan for a four-team playoff to start in the 2014 season.

NCAA Finds Baylor Guilty of Infractions

On Wednesday, the National Collegiate Athletic Association (NCAA) found Baylor University guilty of violating recruiting rules.

The NCAA mainly focused their three-year investigation on the men’s and women’s basketball teams.

In a statement by the NCAA, Baylor men’s basketball coach, Scott Drew, was cited for failure to monitor the program and will be suspended during the first two conference games.