06/25/2014 // West Palm Beach, Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
New York – The National Football League has agreed to remove a cap placed on damage claims by former players who suffered concussions while playing in the league. As reported by the Associated Press (AP), the new terms of a settlement were agreed upon Wednesday that included removing the $675 million cap.
A federal judge previously raised questions regarding the amount, and whether it would sufficiently cover the approximate 20,000 players with concussion related damage claims against the NFL. The same judge must approve the new terms.
Attorneys for the plaintiffs as well as the league have expressed the belief that the settlement won’t exceed $675 million.
Marc Ganis, president of Chicago-based consulting firm SportsCorp, who also closely observes league business matters, is quoted as stating, “This has the benefit of getting money to the families and people who need it now. If the actuarials are wrong, the additional money would not be paid for a while down the road. By then, there will be new TV contracts, the league will have grown more (financially).”
This report is provided by Justice News Flash – New York Legal News
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