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  1. #1

    OT: $500 Million Dollar Settlement with Nassar victims - Michigan State

    Sparty announces they have reached a $500 million dollar settlement with the 332 girls and women sexually assaulted by Larry Nassar.

    https://www.nbcnews.com/news/us-news...lement-n874666

  2. #2

    Re: OT: $500 Million Dollar Settlement with Nassar victims - Michigan State

    Those numbers are comic book numbers to me. Can a University afford that? I think their endowment is $3 billion, but would/could the money come from there? Where do they get it?

  3. #3

    Re: OT: $500 Million Dollar Settlement with Nassar victims - Michigan State

    https://twitter.com/darrenrovell/sta...474156033?s=21

    “After a thorough and analytical examination of NCAA legislation, and an application of the known facts associated with the Nassar matter to NCAA legislation, the University finds no NCAA rules violations.”

    Michigan State’s outside counsel in letter to NCAA on March 22.

  4. #4
    Bombino
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    Re: OT: $500 Million Dollar Settlement with Nassar victims - Michigan State

    Could be structured settlement paid over twenty years because of youth of victims. That would reduce the initial payout but it still is one heck of a lick to MSU.

  5. #5
    Unforgettable
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    Re: OT: $500 Million Dollar Settlement with Nassar victims - Michigan State

    That is getting close to serious money. Wow. As I'm sure you have all done, that is $1.5 million per person, although I doubt it will get paid out that way.
    "The greatest obstacle to knowledge is not ignorance—it is the illusion of knowledge."
    - Daniel J. Boorstin

  6. #6

    Re: OT: $500 Million Dollar Settlement with Nassar victims - Michigan State

    wow, that would cover 10, maybe 12 years of my bar tab.

    I presume it will be a structured settlement as mentioned, but that's huge money even for a major university. I think MSU football tickets just went to $15,000 per game per seat.
    Saigon. .... I'm still only in Saigon

  7. #7
    Unforgettable
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    Re: OT: $500 Million Dollar Settlement with Nassar victims - Michigan State

    This is pretty serious stuff. I doubt any University is completely clean, especially when it comes to acting on, or ignoring complaints.
    Real Fan since 1958

  8. #8

    Re: OT: $500 Million Dollar Settlement with Nassar victims - Michigan State

    That's about 6000 scholarships.
    Follow me on Twitter @krcrider


  9. #9

    Re: OT: $500 Million Dollar Settlement with Nassar victims - Michigan State

    Or about 5800 professor-years.

    You've got a buddy in the faculty business,
    Warren (the M does not make Michigan State faculty money.)

  10. #10

    Re: OT: $500 Million Dollar Settlement with Nassar victims - Michigan State

    Couple more tidbits.

    The settlement will pay $425 million to the 332 girls and women who have come forward to date, averaging about $1.28 million per victim. Michigan State will set aside an additional $75 million in a trust fund for any victims who come forward in the future.

    ....

    While Wednesday’s settlement will remove Michigan State from Nassar-related litigation, the fallout over his crimes is likely not yet over. Lawsuits continue against the USOC, USA Gymnastics and the Karolyis. Congressional investigations continue, as well as law enforcement investigations in Michigan and Texas, where the Karolyis’ ranch is located

    https://www.washingtonpost.com/news/...=.b03487753f68

  11. #11

    Re: OT: $500 Million Dollar Settlement with Nassar victims - Michigan State

    Couple other tidbits.

    The endowment may not be used to fund any portion of the settlement.

    The University has a $39 million insurance policy to cover sexual molestation.

    Article on how the university will pay for it:

    http://www.mlive.com/news/index.ssf/...ay_how_it.html

  12. #12
    Rupp's Runt
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    Re: OT: $500 Million Dollar Settlement with Nassar victims - Michigan State

    Quote Originally Posted by UKFlounder View Post
    https://twitter.com/darrenrovell/sta...474156033?s=21

    “After a thorough and analytical examination of NCAA legislation, and an application of the known facts associated with the Nassar matter to NCAA legislation, the University finds no NCAA rules violations.”

    Michigan State’s outside counsel in letter to NCAA on March 22.
    And that makes everything all right. Reminds me of Penn State who so quickly pointed out that no NCAA violations occurred. Somehow keeping kids away from agents is more important than predators.
    This will be a day longer remembered. It has seen the end of Pitino and will soon see the end of Louisville. September 27, 2017

  13. #13

    Re: OT: $500 Million Dollar Settlement with Nassar victims - Michigan State

    There's a part of the settlement agreement that says the victims must stop advocating for two specific reform bills that are currently being debated and voted on in the Michigan state legislature--bills to remove governmental immunity in cases involving childhood sexual abuse.

    According to the plaintiff's lawyer, the bills related to governmental immunity were unlikely to pass even with their support, so they weren't giving up anything by agreeing to that condition. And there's no condition on the settlement that says they can't push for governmental immunity reform in future bills.

    MSU special counsel Bob Young, when asked about the special condition, said that the “agreement was that governmental immunity and (notice of intent) defenses would be preserved so that we didn’t settle for half a billion only to have another set of cases just like it.”

    https://deadspin.com/michigan-states...ing-1826139831

    I don't like this provision for the reasons stated in the article.

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