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USAG expects to pay $75M to $150M to survivors

Posted at 8:47 AM, Nov 09, 2018
and last updated 2018-11-09 08:47:38-05

USA Gymnastics expects to pay between $75 million and $150 million to survivors of Larry Nassar, according to financial statements first reported by Sports Business Daily.

USAG has been in mediation talks with survivors since the spring.

Over 200 survivors have filed suit in Michigan, California, and Texas, naming USAG as a defendant.

USAG expects that a potential settlement of claims would be covered by insurance.

This news comes as the United States Olympic Committee announced on Monday it had taken the first steps to strip USA Gymnastics of its recognition as the national governing body of the sport.

In May, Michigan State University agreed to pay $500 million in settlements to more than 300 survivors.