USA Gymnastics proposes $425 million settlement with Nassar survivors

USA Gymnastics has agreed to pay out $425 million to hundreds of women as part of a massive settlement.

The settlement includes Olympic champions who said they were sexually assaulted by Larry Nassar.

The organization -- under the microscope for allowing an environment where Nassar went unchecked for years -- is currently in bankruptcy.

The deal to pay out more than $400 million to 500 women has been filed with the court, but the organization does not have the money at this point and would have to come to agreements with its insurance carriers. The deal also includes getting what is described as substantial compensation from U.S. Olympic and Paralympic committees.

It is unclear how the money would be distributed among the women, including Olympic stars like Simone Biles and Aly Raisman.

The USA Gymnastics settlement is less than the $500 million that Michigan State University agreed to paid in May 2018 to settle its Nassar-related lawsuits.

Read: Watchdog: FBI failed to respond to Nassar allegations with ‘utmost seriousness’