As Snopes says -
At least three reasons suggested this photograph was an authentic image. First, the official YouTube page of Covington Catholic posted a (now deleted) video on 24 January 2018 titled “Colonel Crazies Compilation Video” — a reference to the nickname given to that school’s cheering section — which showed numerous students covered in black paint present at several basketball games. One clip could possibly be from the same game shown in the photograph, based on the distribution of painted players and the year (2012) the video was allegedly taken:
And the Snopes link has video….
And then there’s this….
I don’t have anything to add.