Larry Nassar's sexual abuse victims to receive courage award

Hundreds of women who publicly shared their experiences of sexual abuse by former sports doctor Larry Nassar are set to receive an award recognising their bravery.

The Arthur Ashe Courage Award - one of the Excellence in Sports Performance Yearly Awards (ESPYs) - will go to dozens of victims who testified against Nassar, 54, in court over the past 12 months.

Several high-profile Olympic gymnasts, including Aly Raisman and McKayla Maroney, were among those who courageously shared victim impact statements during Nassar's trial.

"They have shown us all what it truly means to speak truth to power, and through their bravery, they are making change for future generations,” the ESPYs vice president says.

In previous years, The Arthur Ashe Courage Award has been won by the likes of Muhammad Ali, Caitlyn Jenner and Billie Jean King.

RELATED: Larry Nassar's victims vow to fight on

The award announcement comes after Michigan State University reached a A$666 million settlement with 332 of Nassar’s victims earlier this week.

The institution was accused of ignoring or dismissing complaints about Nassar, some as far back as the 1990s, though it insists nobody there covered up assault incidents.

"We recognise the need for change on our campus and in our community around sexual assault awareness and prevention."

Under the settlement, a portion of the money will be set aside for any future claims made against Nassar.