The National Football League has reached a "historic" settlement with thousands of retired players who accused the league of deliberately concealing the dangers of head trauma, the case's mediator said Thursday.

The deal calls for the NFL to pay $765 million to fund medical exams, concussion-related compensation, medical research for retired NFL players and their families and litigation expenses, according to a court document filed in U.S. District Court in Philadelphia.

The agreement still needs to be approved by the judge assigned to the case, which involved more than 4,500 former players.