The sports news story of the decade as first reported by SI’s Peter King:
This is a dramatic change in position for the league, which, for a time, seemed highly unlikely to reach any sort of agreement in this case. The settlement helps the NFL avoid what could have been years of an EXTREMELY costly litigation process that many predicted could have bankrupted an institution that pulls in roughly $9 billion per year. So while that $765 million is a huge chunk of money, it’s a total that the NFL and it’s billionaire-owners will be able to manage.
“This is a historic agreement, one that will make sure that former NFL players who need and deserve compensation will receive it, and that will promote safety for players at all levels of football,” former U.S. District Judge Layn Phillips, the court-appointed mediator in the case, said in a statement. “Rather than litigate literally thousands of complex individual claims over many years, the parties have reached an agreement that, if approved, will provide relief and support where it is needed at a time when it is most needed. I am deeply grateful to [U.S. federal judge Anita B.] Brody for appointing me as mediator and offering me the opportunity to work on such an important and interesting matter.”
More details to come on this.