Owners ratify concussion settlement, hearing set for October 28
As expected, the league’s owners voted on Tuesday to approve the $765 million settlement of the concussion lawsuits filed against the NFL.
The process now hinges on Judge Anita Brody granting preliminary approval to the deal, which has expanded from more than 4,500 former players to cover all “retired” NFL players as of the date her approval is given.
The hearing, we’re told, has been set for October 28. If approval is granted, formal notice of the settlement will be sent to all retired players, giving them 90 days to “opt out” of the deal, if they so choose. Eventually, a formal “fairness hearing” will be held, with any retired players who don’t opt out having a chance to challenge the settlement.
Among other things, the settlement creates a fund of $675 million for players who can demonstrate “severe cognitive impairment.” Even players who didn’t sue will be eligible for a multi-million-dollar recovery, based on factors such as diagnosis, age, and years of NFL service.