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All-TigerNet [12208]
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Anybody hear what the ACC did?
Jan 18, 2013, 4:56 PM
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Apparently they are not playing games with Maryland. They have already stopped their payouts. Lawyers informed them to stop payment to Maryland until the ACC receives their agreed 50 million dollar payout along with lawyer fees (which comes to a total of 53 million) Maryland is claiming anti trust, but the ACC's lawyers are playing hardball. Could be interesting.
How funny would it be if the ACC got the 50 million. Started their own TV contract along with trading them out for a better program (Louisville). Would be egg all over their administrations face.
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110%er [9056]
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No, nobody has heard***
Jan 18, 2013, 5:01 PM
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Hall of Famer [23112]
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There was another thread where some thought
Jan 18, 2013, 5:01 PM
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it was mistake by the ACC to do this. They did this with the best legal minds advising them. UMD has filed a counter suit, we'll see what the courts say. I for one think it's the right move.
If I remember correctly, their lawyers had advised them not to pay UMD on the basis that UMD had already said they didn't plan on paying the exit. If the court side with the ACC, they could wind up "foreclosing" "attaching" the whole UMD athletic department for their money.
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Orange Blooded [2746]
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How do you know they are "the best legal minds"?
Jan 18, 2013, 9:26 PM
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That would mean Swofford is listening to someone other than himself. There's no precedent for that.
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Legend [15216]
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Wonder if our FB game counts as a forfeit ?
Jan 18, 2013, 5:03 PM
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1-0 baby and it's only January.
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110%er [6937]
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Re: You have to play hardball. Give them no quarter.***
Jan 18, 2013, 5:05 PM
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110%er [6781]
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Totally Agree. Even if the ACC gets no money out of this
Jan 18, 2013, 5:13 PM
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they still came out smelling like roses with this trade. I know the the intellectual elites don't like it but the 3 major sports just added instant credibility to the conference reputation.
Here's to hoping Marylands 53 mil is used to start the ACC network. and even if not i hope we force UMD to spend 53 mil in lawyer fees.
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Orange Blooded [3178]
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ACC knows if they let UMD of the hook....
Jan 18, 2013, 5:16 PM
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A mass exodus from the conference will occur
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110%er [6781]
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Everybody has their opinion but I don't that will happen
Jan 18, 2013, 5:26 PM
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en mass or soon. but it does say that this agreement doesn't mean anything. and long term that may not be good if the money gap grows with the big ten or if the sec and Pac 12 pass us in revenue by a significant amount.
(insert article here that i can't find about the ACC currently being second in revenue, all the talk is about future revenues)
I also think that 53 million is just simply worth calling your lawyer for.
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Commissioner [942]
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Based on the USA Today article, it looks like the SEC will
Jan 18, 2013, 7:36 PM
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be ahead of the ACC by a significant amount. They are talking of replacing their existing contract with one averaging $25 million annually to the ACC's average of $17 million. Add the better bowl payouts they will get plus they will have multiple playoff participants, they'll make about $10 million more per team per year. My question is what is Swofford going to do about that?
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Hall of Famer [23112]
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More crap based on "projected" false numbers.
Jan 18, 2013, 7:39 PM
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I think someone else posted the actual numbers of what was paid out in 2012 and the ACC actually came out better.
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110%er [6937]
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Legend [15749]
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We lost a found member and it took us 15 minutes to upgrade
Jan 18, 2013, 5:34 PM
[ in reply to ACC knows if they let UMD of the hook.... ] |
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to Louisville. Maryland couldn't manage their finances and took a short-term bail-out solution. I do not think it will work out for them but time will tell. It seemed like we had not hung up the phone with Maryland before Louisville was a member. I think we'll be alright.
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Orange Blooded [2481]
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Heck, help them GET OUT...along with Boston College,
Jan 18, 2013, 6:20 PM
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and a couple others.
#21
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Aficionado [174]
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peanut
Jan 18, 2013, 7:51 PM
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The SEC has no exit fee. Doesn't cost for their teams to leave. How many do you think will jump to the ACC? None....wait...the ACC makes more money? The exit fee could also hurt the ACC. Some teams might choose another conference so they won't be trapped by it. If you have to force teams to stay....there is a reason.
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110%er [6937]
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Re: I don't give a double #### about the ACC. We are not
Jan 18, 2013, 8:41 PM
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members.
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CU Medallion [50803]
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Re: Anybody hear what the ACC did?
Jan 18, 2013, 7:53 PM
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You said "their agreed" payout.Wasn't Maryland one of the 2 teams that voted against that plan? I am sure that will be one of their legal points during the lawsuit. They will claim they chose to leave because they disagreed with that plan.
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Hall of Famer [23112]
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By Laws ?
Jan 18, 2013, 7:57 PM
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Are they only allowed to obey the rules that they voted for and not the ones they voted against, even though they passed by the required majority ?
Thanks for your post , with UMD filing for the money they claim they are owed as part of the agreement with the conference will show they can't just pick and choose which rules they want to obey .
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CU Medallion [50803]
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Re: By Laws ?
Jan 18, 2013, 8:05 PM
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But if the By Laws are being changed in a way you don't agree (and there is a lower current buyout) should they be allowed to leave at the current rate instead of abiding by the change that they disagreed with. I know they did not immediately hit the door, but you can count on that being presented as a reason they moved on.
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All-TigerNet [12208]
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Re: By Laws ?
Jan 18, 2013, 9:19 PM
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Unfortunately that is not the way it works. If we go into the next ACC session and say we no longer vote for equal revenue sharing we would like to keep a majority of the money because we are your cash cow. That doesn't mean we are getting a bigger check.
You are bound by your conference and its by laws. Which are voted on by every institution. A majority vote was concluded and the conference accepted that term into its by laws. The only way out of that is to say right then and there WE ARE OUT. We are out of your conference before this even goes through the process.
Bottom line: Maryland was working behind the scenes and they got caught. They should have gotten out before the by laws were amended. They are bound by the agreement
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All-TigerNet [10210]
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basketball? What sport?***
Jan 18, 2013, 8:25 PM
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