Garcia, who played in the league from 1995-2003, was one of more than 4,500 plaintiffs in the concussion lawsuit filed against the NFL in which a $765 million agreement was announced Thursday.
Garcia said the case was settled because the NFL withheld information about the long-term effects of head injuries.
"It's more the principle of it," said Garcia, a sports-talk radio host for WFNZ-AM in Charlotte. "I think it's more of an acknowledgement that there was responsibility and some negligence or they wouldn't be giving this money."
Garcia, 41, estimated he would receive about $60,000 from the settlement after taxes.
"I give the NFL credit. A lot of times it's hypocritical what their stances are," Garcia told the Observer. "This is the first time you can look and say, 'They're putting their money where their mouth is.'
"I've had concussions and learned a lot more about concussions since I retired. There is a responsibility the NFL had to inform. I think they're doing a lot more, and that's a good thing."