The "leak" probably came from Yormack's mouth. People who state this things have no clue how little money FSU has, recall that they could not fund the $100MM exit they floated last year. Regardless of their home court win in the Florida Court, the legal process has only begun and they lost in North Carolina which means that the trials may come forth and then the appeals, then the federal courts...
I feel like that is the B12 trying to make itself the 3rd conference. Why would FSU and Clemson make, at best, a horizontal move after all of this?
Holy dumbass lateral move, Batman.
If true, which it maybe is, as FSU Administrators, Trustees, etc have to save face here and staying in the ACC is not saving face. The SEC has said no; the B1G, I doubt, will take them in full shares like they thought, as their “perceived“ self-value is seriously overvalued, so that leaves the B12 as the only other option.Holy dumbass lateral move, Batman.
Then come the public claims against FSU trustees and the AD for abdicating their fiduciary responsibilities to the State of Florida and it's citizens.If true, which it maybe is, as FSU Administrators, Trustees, etc have to save face here and staying in the ACC is not saving face. The SEC has said no; the B1G, I doubt, will take them in full shares like they thought, as their “perceived“ self-value is seriously overvalued, so that leaves the B12 as the only other option.
Is it a smart move? No way in hell is it financially smart, even if the Big12 somehow manages to pay their exit fee for them, but it allows them to save face publicly and proclaim the evil ACC and ESPN forced their hand, which is a lie.
Then come the public claims against FSU trustees and the AD for abdicating their fiduciary responsibilities to the State of Florida and it's citizens.
At some point, you have to believe cooler heads will prevail. Losing large sums of money to save face and make a lateral move is poor business.
Pride mixed with arrogance and ignorance is always a dangerous cocktail to drink.
Bunch of DA rednecks run the show in arseahasseThen come the public claims against FSU trustees and the AD for abdicating their fiduciary responsibilities to the State of Florida and it's citizens.
At some point, you have to believe cooler heads will prevail. Losing large sums of money to save face and make a lateral move is poor business.
Pride mixed with arrogance and ignorance is always a dangerous cocktail to drink.
Rumor has it that the B12, via private equity, has offered to pay their exit fee. We’ll see if that is true or not. If true, the Big12 is selling their soul to PE without having the money now to pay them back probably in hopes that their media deal will be increased in 6 years when it is up. That is a ton of money though and a PE wants a solid return on their investment. They will either look like a god or a goat in about 6 years.How much money does FSU have? is that public info, since they are a public school? I keep reading that they can't finance their initial $100M proposal - so they don't even have that available?
Yep. College sports are all about passion for the team you're connected to in some way, not simply wanting to watch a select few top teams battle. If the team I care about is completely irrelevant, I don't care about what happens in the rest of the sport. If it comes down to just a few elite teams that are essentially a minor league, why would I not just watch the NFL and leave my Saturdays open? College football at that point would be just as interesting to me as minor league baseball or g-league basketball.
Question for attorneys: If B10 and SEC were in discussions with FSU, would that be considered tampering or something else that would be illegal?If true, which it maybe is, as FSU Administrators, Trustees, etc have to save face here and staying in the ACC is not saving face. The SEC has said no; the B1G, I doubt, will take them in full shares like they thought, as their “perceived“ self-value is seriously overvalued, so that leaves the B12 as the only other option.
Is it a smart move? No way in hell is it financially smart, even if the Big12 somehow manages to pay their exit fee for them, but it allows them to save face publicly and proclaim the evil ACC and ESPN forced their hand, which is a lie.
That's a tough one. Their endowment is public, but endowments are not huge slush funds. Money is often tied to specific programs, etc..How much money does FSU have? is that public info, since they are a public school? I keep reading that they can't finance their initial $100M proposal - so they don't even have that available?
"Nobody watches Days of Your Lives Anymore" - speak for yourselves.
Good watch. This lawyer says the ACC position is strong
Excellent Find, Mark. Thanks.
Good watch. This lawyer says the ACC position is strong
That’s great news for the ACC if they leave and pay via PE. I think the certainty is fsu and Clemson want out no matter whatRumor has it that the B12, via private equity, has offered to pay their exit fee. We’ll see if that is true or not. If true, the Big12 is selling their soul to PE without having the money now to pay them back probably in hopes that their media deal will be increased in 6 years when it is up. That is a ton of money though and a PE wants a solid return on their investment. They will either look like a god or a goat in about 6 years.
Lot of public schools dont have huge endowments. They run off public budgets and private donations directly to the athletics. The athletic departments dont have to compete as much with academic donations either.That's a tough one. Their endowment is public, but endowments are not huge slush funds. Money is often tied to specific programs, etc..
About the Foundation | FSU Foundation
The Florida State University Foundation’s mission is to enhance the academic vision and priorities of FSU through its organized fundraising activities and funds management.foundation.fsu.edu
BTW, FSU's 1B endowment isn't a lot. For example, Colgate has more money
Annual Endowment Statistics | Colgate University
A historical look at relevant statistics regarding the Colgate University endowment.www.colgate.edu
Rumor has it that the B12, via private equity, has offered to pay their exit fee. We’ll see if that is true or not. If true, the Big12 is selling their soul to PE without having the money now to pay them back probably in hopes that their media deal will be increased in 6 years when it is up. That is a ton of money though and a PE wants a solid return on their investment. They will either look like a god or a goat in about 6 years.
lol this is great hehe, not a good partner to boot based on their actions. Time for FSU to come back down to reality.
This smells of the real power brokers of the ACC alligning with the SEC/BIG power brokers and creating a counter narrative of "you aren't going to get what you want by pouting". This story feels orchestrated by ND or UNC who may want to keep the ACC intact by reaching out to their buddies in the BIG/SEC to provide the sourcing for it. ND must be behind this...if i'm putting my rose colored conspiracy theory goggles onlol this is great hehe