NFL reaches $765 Million agreement to settle Concussion Lawsuit

[panther4life]

http://profootballtalk.nbcsports.com/2013/08/29/nfl-reaches-765-million-settlement-in-concussion-lawsuit/

 

 

"In a dramatic development staving off what could have been years of costly litigation, the NFL has settled lawsuits brought by thousands of former players over brain injuries suffered on the field.

Former U.S. District Judge Layn Phillips, the court-appointed mediator, announced that the NFL and NFL Properties will contribute $765 million to provide medical benefits and injury compensation for retired NFL players, fund medical and safety research, and cover litigation expenses. The settlement still must be approved by U.S. District Judge Anita Brody.

“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,” Judge Phillips 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 Judge Brody for appointing me as mediator and offering me the opportunity to work on such an important and interesting matter.”

 

[TimTom]

I don't know what to think about $170,000 per player.  I wonder how it will be distributed.  All in one lump sum (sounds like a money grab/hush money).  Or if it's set up in some kind of trust where medical bills associated with their injury history are charged to the account, that could make sense.  Either way, the NFL got off on the CHEAP.

 

edit: and when I say CHEAP, I mean relatively for a business that pulls in almost 10B revenue per annum.  That's the cost of doing business LOL.

[Ja Rhule]

It's tax exempt due to physical and emotional damage.

[SgtJoo]

Wow, what a bargain for the NFL.

[SgtJoo]

It's also taxable at about 40%. So after tax income is about $100k.

 

Personal injury and wrongful death proceeds are not taxable.

[Ja Rhule]

Personal injury and wrongful death proceeds are not taxable.

Yea, fixed it before u replied :p

[Darth Biscuit]

So the owners pay a one time amount that's roughly equal to 40% of their annual profit to this settlement.  Poor guys.

 

What about future claims from those not involved in the settlement?  I assume that the NFLPA had to also agree to this to prevent future claims???

[LA_Panther]

That's chump change for the league.

[Ja Rhule]

Shows u how much fug they give about their employees.

[Qu1million]

wait so kevin kolb will only get the minimum...he averages 5 concussions every year and that including being a backup...

 

I know it says former players but what about current players or would that be a separate lawsuit?

[BigBoss]

All things considered, it will be a about a billion that NFL will lose on this. Lol at that being cheap. I can't even sniff 40,000 a year and 1 bill is cheap? lol

 

Hopefully all the cry babies over head injuries will shut up now, I'm so tired of the NFL being bogged down with this none sense. Realistically, it's only gonna get worse.

[Johnny Rockets]

The next round of lawsuits will be related to the damage that HGH/Steroids have done to many of these players in the NFL and the NFL's lack of a real drug testing system and basically ignoring it entirely eventhough widespread use is evident.

 

Might as well throw in the injections and pain pills they pump these guys full of to get them back out on the field and the addictions many players deal with in life after football that are a result of this.

 

Once this concussion issue is "resolved", these two things will become the issue that rears it's ugly head that the NFL has been sweeping under the rug for so many years.

[Fan01]

Cost of doing bidnes.

[PhillyB]

wow. did anyone see this coming?