December 14, (THEWILL) – The USA Gymnastics and the United States Olympic and Paralympic Committee (USOPC) have struck a $380 million (£288 million/€336 million) settlement with the victims of disgraced doctor Larry Nassar, according to an attorney of some of the victims.
THEWILL recalls that Nassar, who was sentenced to an effective life sentence by a Michigan court in 2018 for sexually abusing dozens of young female gymnasts and is already serving a 60-year sentence on a Federal child pornography conviction, is believed to have molested more than 350 women.
A majority of gymnasts agreed earlier this month to accept a settlement proposal with the governing body.
TIG Insurance Company agreed to fund a significant portion of the settlement in the US Bankruptcy Court for the Southern District of Indiana today, according to the Wall Street Journal, which includes a direct contribution of $34 million (£26 million) from the USOPC and a $6 million (£4.5 million) loan from the USOPC to USA Gymnastics.
Jamie Dantzscher of the United States filed the case in September 2016, and it was quickly followed by a wave of other lawsuits from gymnasts around the world, including US Olympic gold medalists Simone Biles, Aly Raisman, and McKayla Maroney.
The $380 million settlement is roughly double the $215 million (£162 million/€190 million) bid that was rejected last year and was severely panned.
in a joint statement with Tasha Schwikert Moser, co-chair of the Survivors Creditors Committee, Michelle Simpson Tuegel, who represents over two dozen victims, said: “This settlement is about the brave survivors who came forward, forced these organisations to listen, and demanded change.
“Through this agreement, these survivors are finally being acknowledged and USA Gymnastics and USOPC are being forced to change so that this sport can begin a new chapter.”
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
