Ajax Amsterdam and ex-player Abdelhak Nouri's family have agreed to pay millions in compensation.
The club will therefore pay 7.85 million euros, as the Dutch football record champion announced.
Nouri suffered cardiac arrest during a friendly against Werder Bremen on July 8, 2017.
After that, the 24-year-old was in a coma and suffered from severe permanent brain damage.
Ajax has now acknowledged errors in medical care on the pitch and took responsibility for it as an employer.
"It's good that an agreement has been reached so we can wrap this up.
We all know that the suffering is not over for Abdelhak and his loved ones.
It remains a very sad situation," said Ajax manager and ex-national keeper Edwin van der Sar.
Association pays for the care of Nouris
The association has reimbursed the costs of Nouri's care since 2017 and will continue to cover them.
The Nouri family dropped the proceedings before the Arbitration Committee of the Dutch association KNVB after the settlement.
“It is good that the discussion about liability and its consequences is a thing of the past and that we can look to the future together.
This will mainly focus on the great plans we have with the Abdelhak Nouri Foundation," said Nouri's father, Mohammed Nouri.