Engler says Michigan State will 'emerge stronger' following $500M Nassar settlement

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Michigan State's $500 million settlement dwarfs the $109 million Penn State has paid to 35 victims of former football assistant Larry Sandusky.

The settlement applies only to Michigan State.

ESPN announced on Wednesday the hundreds of survivors of Nassar's abuse will receive the Arthur Ashe Courage Award at the 2018 ESPY awards. According to ESPN, $425 million will be distributed to 332 claimants, while the remaining $75 million will be held in reserve for two years should other victims come forward.

Nassar, 54, a former Olympic gymnastics doctor, is serving an effective life term after pleading guilty to assaulting nine girls and women in MI, as well as to federal child pornography crimes, and being sentenced to up to 175 years in jail.

The scandal also implicated Michigan State University, the university where Nassar practiced. However ratings agencies have lowered their outlook and rating for the university, meaning the school will pay higher interest rates.

"They have a larger rainy day fund than the state does, and it's been storming over there for well over a year and they need to pay for this", said State Representative and House Speaker Tom Leonard, a Republican from DeWitt.

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Any suggestion that the university engaged in a coverup is "simply false", a school statement said. The $500 million settlement only applies to MSU and school officials who were sued.

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Imagine going into a settlement conference and having a half-billion dollars as your best payout case scenario.

Brian Breslin, chair of MSU's Board of Trustees, added: "A successful resolution to the litigation is a positive step in moving us all forward. We will continue working as a Board to address the necessary changes and improvements that are needed at our university".

The letter covered his thoughts on what MSU is doing to improve its handling of sexual assault and misconduct, what the settlement means for the MSU community and the survivors and how the university will carry out its "responsibilities required by the settlement".

"I definitely see a future where athletes are safe and succeeding". "That being said, my investigation is still open and ongoing". The scope of Nassar's crimes and the lack of response to them by the organizations for which Nassar worked are simply mind-boggling and nearly unthinkable.

The settlement will be divided up after weighing many factors, including the date and victim's age when the sexual assaults occurred and the impact it had on their lives, lawyers say.

Over the last year, women have spoken eloquently about the abuse they suffered over the years and faced Nassar with their accusations in court, relating stories of the abuse they endured.

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