The National Football League announced Monday that it has settled a class-action lawsuit relating to the use of retired players' images, reports NFL.com.
NFL commissioner Roger Goodell was flanked by numerous retired players including Hall of Famer Jim Brown when he made the announcement during the NFL Annual Meetings in Phoenix.
Under the settlement, the NFL will contribute $42 million over eight years to a newly created Common Good Fund that a group of retired players will administer and use to provide benefits such as medical, housing and career-transition.
“We see this as a very positive step that will help promote our retired players, our game and will ultimately be very beneficial for our retired players long term,” Goodell said. "We look forward to building an unprecedented new relationship with retired players that will benefit everybody, especially those who need extra medical or financial assistance.
Brown said the fund will allow retired players to “reach out and help a lot of our players who really need help.”
The settlement will also establish an independent licensing agency that is dedicated to the use of retired players’ publicity rights. A board of retired players will oversee that agency.