The NFL announced today that it will pay $5 million to resolve a lawsuit brought against the NFL by two farmers and two ranchers in the state of Arizona.
The agreement with Arizona Farm Bureau of Arizona was announced today by the NFL in partnership with the National Farmers Union, the Arizona Farm Credit Union, and the Farm Bureau and Arizona Farmers Union.
The settlement will cover all outstanding claims from October 2011 through June 2015.
A&amt;F agreed to pay the farmers $2.5 million for the class action lawsuit, which is currently pending.
It also agreed to make available the settlement agreement for public review.
The Arizona Farm Bank was formed in 2007 to manage the state’s $100 million farm credit fund, which provides loans to farmers to help cover farm expenses and other costs associated with growing and marketing their crops.
The National Farmers Unions and the Arizona Farmers Credit Union were involved in the settlement.