The NFL and more than 4,500 former players reached a tentative $765-million settlement in concussion-related lawsuits that would fund medical exams and research as well as provide compensation for ex-players who are suffering from the debilitating effects of concussions.

Senior U.S. District Judge Anita Brody in Philadelphia announced the proposed settlement Thursday after months of court-ordered mediation. She still must approve it at a later date. The concussion-related injuries suit has been in mediation since July. It came just days before the start of the 2013 season.

The plaintiffs include at least 10 members of the Pro Football Hall of Fame, including former Dallas Cowboys running back Tony Dorsett. They also include Super Bowl-winning quarterback Jim McMahon and the family of Pro Bowl linebacker Junior Seau, who committed suicide last year.

Former US District Judge Layn Phillips, the court-appointed mediator who helped forge the deal, said in a statement that a trial would have been costly, long and difficult to address on a case-by-case basis with the outcome uncertain for either side.

“This is a historic agreement, one that will make sure that former NFL players who need and deserve compensation will receive it, and that will promote safety for players at all levels of football,” said Phillips. “Rather than litigate literally thousands of complex individual claims over many years, the parties have reached an agreement that will provide relief and support where it is needed at a time when it is most needed.”

“It represents a decision by both sides to compromise their claims and defenses and to devote their resources to benefit retired players and their families rather than litigate these cases,” Phillips said.

There will be a fund of $675 million to compensate former players or their families who have suffered cognitive injury such as dementia, ALS and Alzheimer's disease with $75 million more for basic medical exams. Other money will go to research and legal expenses.

Under its terms, the NFL made no admission of liability, deficiency on the part of the NFL or that injuries were caused by playing American football. The NFL would pay half of the settlement over three years and the other half over the following 17 years.

“This agreement lets us help those who need it most and continue our work to make the game safer for current and future players. Commissioner Goodell and every owner gave the legal team the same direction: do the right thing for the game and for the men who played it,” said NFL Executive Vice President Jeffrey Pash. “We thought it was critical to get more help to players and families who deserve it rather than spend many years and millions of dollars on litigation. This is an important step that builds on the significant changes we've made in recent years to make the game safer, and we will continue our work to better the long-term health and well-being of NFL players.”

The NFL Players�€� Association released a statement that reads: �€�All of the plaintiffs involved are part of our player community, and we look forward to learning more about the settlement.�€�

Insurers for the NFL and its players have denied any obligation in this case, as many of the plaintiffs participated in different eras, with changes in rules, equipment and treatment options.