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Michigan State and Nassar victims reach $500M settlement

Michigan State University agreed to pay $500 million to settle claims from more than 300 women and girls who said they were assaulted by sports doctor Larry Nassar in the worst sex-abuse case in sports history, officials announced Wednesday.

The deal surpasses the $100 million-plus paid by Penn State University to settle claims by at least 35 people who accused assistant football coach Jerry Sandusky of sexual abuse, though the Nassar agreement involves far more victims.

"We are truly sorry to all the survivors and their families for what they have been through, and we admire the courage it has taken to tell their stories," said Brian Breslin, chairman of Michigan State's governing board. "We recognize the need for change on our campus and in our community around sexual assault awareness and prevention."

The university and lawyers for 332 victims announced the deal after negotiating privately with the help of a mediator. Under the agreement, $425 million will be paid to current claimants and $75 million will be set aside for any future claims. Lawyers will also be compensated out of the $500 million pool.