Michigan State University has agreed in principal to pay $500 million to settle lawsuits brought against disgraced former sports doctor Larry Nassar by hundreds of women and girls who say he abused them.
Under the terms of the agreement, the school will pay $425 million to current claimants, with $75 million set aside in a trust fund for any future claimants who allege sexual abuse by Nassar under the guise of medical treatment.
Nassar worked for years at Michigan State University as well as with USA Gymnastics. Gold medalists Jordyn Wieber, Aly Raisman, Gabby Douglas and McKayla Maroney are among those who say they were abused by Nassar.
"This historic settlement came about through the bravery of more than 300 women and girls who had the courage to stand up and refuse to be silenced," said attorney John Manly who represents some of the women and girls.
In a statement, Brian Breslin, chairman of MSU's Board of Trustees says the school recognizes "the need for change on our campus and in our community around sexual assault awareness and prevention."
He adds that resolving the litigation "is a positive step in moving us all forward."
Nassar will likely spend the rest of his life behind bars. He was sentenced to 60 years in prison on federal child pornography charges. And he received separate sentences amounting to decades behind bars after admitting to molesting young gymnasts.
MSU says there will be no confidentiality agreements or nondisclosure agreements attached to the settlement.