elimunelson
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is this something that has a time attached to it and how long does Maryland have to stay in the ACC before they can leave? This is the part that should be fun.
the 50mm bill from the ACC
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Chip
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We will now apparently find out if a $50M exit fee is iron clad. In reading today, I learned that the Big 12's apparently wasn't. Not written up properly or something, I don't know, I wasn't really paying attention.
FSU will likely be watching closely.
If Maryland pays $50M, becomes quite an investment. Assuming B1G treats them like Nebraska for a phase in on revenue (11 B1G schools received $24M last year, Nebraska received $14M), then Maryland goes in the hole for awhile. But then again, they're used to that.
FSU will likely be watching closely.
If Maryland pays $50M, becomes quite an investment. Assuming B1G treats them like Nebraska for a phase in on revenue (11 B1G schools received $24M last year, Nebraska received $14M), then Maryland goes in the hole for awhile. But then again, they're used to that.
Whitey23
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Have to imagine ACC will go all out in court to defend this $50 million buyout. If that wall crumbles, league ripe for more poaching.
Either way if broke azz Maryland can pay it surely FSU can, too.
How much money can Burt Reynolds still have hanging around?
AirForceOrange
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The ACC just better hold Maryland to that $50M!! At least take it to court if need be. If the courts rule on the side of the turtles, then I can live with that. Just as long as the ACC doesn't cave!
Whitey23
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Maryland's move creates an opening, and perhaps some instability, in the Atlantic Coast Conference. After adding Notre Dame as a partial member (all sports but football and hockey) in September, ACC presidents voted to increase the league's exit fee to $50 million. Maryland and Florida State were the only to schools to vote against it. An ACC official, who requested not to be identified because of the sensitive nature of the situation, said the league's legal council has determined that the exit fee is binding. Maryland is expected to seek a reduction in the buyout.
"There are no loopholes," the official said.
Florestano was asked whether the possibility of a $50 million fee to exit the ACC gave her any pause.
"We're still debating what that figure is and how we're going to deal with it," she said.
The ACC could look to add UConn to fill Maryland's spot, but others in the league — especially Florida State and Clemson — will be watching closely to see how the exit fee is handled.
http://www.usatoday.com/story/sport...yland-big-ten-conference-realignment/1714169/
"There are no loopholes," the official said.
Florestano was asked whether the possibility of a $50 million fee to exit the ACC gave her any pause.
"We're still debating what that figure is and how we're going to deal with it," she said.
The ACC could look to add UConn to fill Maryland's spot, but others in the league — especially Florida State and Clemson — will be watching closely to see how the exit fee is handled.
http://www.usatoday.com/story/sport...yland-big-ten-conference-realignment/1714169/
orangecuse
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Unless you have seen the actual contract and have expertise in contractual and case law specific to this specific conference and how things have been handled in the past, you have no intellectual idea what the outcome will be. It is complex, however very enforceable under circumstances that may have been breached by the party's overall agreement or allegence to the conference and its by-laws. It is not against public policy unless negligence of some sort has occurred and can be viably proven. It will come down to just how hard the ACC will want to play hardball on this imo.
OrangePA
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MikeSU02
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darren rovell @darrenrovell
Sources: Under Armour founder & CEO Kevin Plank WILL NOT be contributing to Maryland's ACC buyout fund.
Sources: Under Armour founder & CEO Kevin Plank WILL NOT be contributing to Maryland's ACC buyout fund.
You need to look at the bigger picture here. It's all about setting a precedent. I can understand your thinking because of the negotiations that SU, Pittsburgh, and WVU had with the Big East. However, keep in mind that the main reason the exit fee was jacked up to $50M in the ACC was to prevent future defections. If they don't hold Maryland to every penny of the $50M, a) it defeats the purpose of increasing the exit fee to begin with, and b) it opens the door for others such as FSU, Clemson, to leave at a discount. If there was ever a time to hold them to the full $50M, now is the time.
You may be right, but everyone on this board thought once the exit fee was set that no one would ever leave. Well, that didn't take long. I'm merely speculating of course, but I don't think Maryland would leave if they thought the exit fee was enforceable.
Maryland agreed to a 20 mil exit fee. They did not agree to a 50 mil, it was forced upon them and it just seems to me that this could open some loopholes. Again could be wrong. Just the feeling I'm getting.
Orangello
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Dude knows a bad investment when he sees it.
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