Historic court settlement reached between NFL, retired players

9:16 PM, Apr 8, 2013   |    comments
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MINNEAPOLIS - A settlement between the NFL and its former players will go a long way toward helping retirees who need it most.

"I think it's just a fantastic, fantastic opportunity for both the NFL and the retired players," said former Viking and Hall of Famer Paul Krause.

The decision allows former players to basically own the rights to their own publicity, or profit off the marketing of their own likeness. It creates a partnership with the NFL who will help the players find ways to market themselves.

It also establishes a fund, $42 million over eight years, to help pay for things like medical expenses, housing and career transition.

"Years ago players were making five, six, seven-thousand dollars a year playing football, without insurance, without any hospitalization.

They had jobs all the time even while they played," says Krause.

He says this settlement will be beneficial to both sides. The fund will be overseen by a panel of former players.

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