A landmark settlement forcing the National Football League to pay retired players for concealing from them the dangers of repeated head hits was upheld Monday by an appellate court.

The settlement, which could see the NFL pay thousands of retired players up to $5 million, was challenged by some players who said it did not provide sufficient compensation to players, The New York Times reported.

The deal was approved nearly a year ago by a district court judge in Philadelphia.

In its ruling Monday, the United States Court of Appeals for the Third Circuit acknowledged the challengers' concerns but decided the settlement was for the greater good of all players, The Times reported.

"They risk making the perfect the enemy of the good," the court wrote of the players who challenged the deal. "This settlement will provide nearly $1 billion in value to the class of retired players. It is a testament to the players, researchers and advocates who have worked to expose the true human costs of a sport so many love. Though not perfect, it is fair."

The next step for the challengers would be to take their appeal to a larger panel of judges at the Third Circuit or to seek a Supreme Court hearing. However, legal experts say both options stand little chance because the appeals court ruled overwhelmingly in favor of the settlement, The Times reported.