O’Bannon’s attorneys had asked for a group of 11 judges to reconsider the smaller panel’s ruling that affirmed U.S. District Judge Claudia Wilken’s decision: The NCAA’s rules restricting payments to college athletes violate antitrust laws, but players shouldn’t be paid up to $5,000 per year in deferred compensation for use of their names, images and likenesses.

MORE: Next Wisconsin coach? | Rivalry rankings

Wednesday’s decision sets the stage for the two sides to decide whether they want to seek to take the case before the Supreme Court.

They have roughly 90 days to file with the high court. According to CBS Sports , in past comments and legal filings, both the NCAA, which continues to argue that it is not violating antitrust laws, and O’Bannon, who is arguing that athletes should be compensated, have indicated an interest in pursuing the case to the Supreme Court.