Replies: 12
| visibility 1,027
|
Oculus Spirit [78831]
TigerPulse: 100%
Posts: 26421
Joined: 12/6/98
|
North Carolina courts uphold ACC's $52M lawsuit against Mary
Nov 19, 2013, 1:27 PM
|
|
North Carolina courts uphold ACC's $52M lawsuit against Maryland
A North Carolina court ruling could result in Maryland having to pay the full $52 million fee for leaving the ACC to join the Big Ten.
The ACC and Maryland have competing litigation in regards to the fee that should be assessed for leaving the conference. Maryland argues that the figure, which represents three times the conference's operating budget, does not represent the damages caused by the Terps' exit.
Maryland made a bid to dismiss the ACC's suit, filed in North Carolina on Nov. 26, 2012. The school's attorneys argued that the case should be dismissed because the school is an arm of the state, and "Maryland and other states enjoy sovereign immunity that protects them from lawsuits."
North Carolina's Court of Appeals rejected that argument in its Tuesday ruling.
"The ACC alleges that the University of Maryland's withdrawal from the ACC subjects them to a mandatory withdrawal payment in the amount of $52,266,342," a three-judge appeals court panel said in its decision today.
Maryland filed a competing suit against the ACC in Prince George's County. That case was put on hold until the North Carolina Court of Appeals reached a decision.
According to the Baltimore Sun, Maryland's attorney general's office released a brief statement after today's decision:
"We are reviewing the North Carolina appeals court decision and Maryland is considering its options," the statement read.
Maryland is scheduled to leave the ACC and become an official member of the Big Ten in July. Louisville will take the Terps' place in the ACC Atlantic Division after the official move from the American Athletic Conference this summer.
http://www.cbssports.com/collegefootball/eye-on-college-football/24249116/north-carolina-courts-uphold-accs-52m-lawsuit-against-maryland
|
|
|
|
Recruit [75]
TigerPulse: 100%
Posts: 86
Joined: 11/30/11
|
Re: North Carolina courts uphold ACC's $52M lawsuit against Mary
Nov 19, 2013, 1:40 PM
|
|
Nice. I'm surprised this case wasn't removed to federal court though. The ACC may have had a tougher time getting past the 4th Circuit
|
|
|
|
|
110%er [6208]
TigerPulse: 100%
Posts: 8857
Joined: 5/30/01
|
This case will drag out for eternity...
Nov 19, 2013, 1:44 PM
|
|
or until Maryland has to pay little or nothing. I'm skeptical they'll ever pay that full amount.
|
|
|
|
|
CU Medallion [67718]
TigerPulse: 100%
Posts: 115417
Joined: 11/30/98
|
Re: I dont think the ACC needs to be behinds about the $
Nov 19, 2013, 1:47 PM
|
|
Just kidding. actually I do. they knew the score and opted to leave anyway
|
|
|
|
|
Orange Blooded [3924]
TigerPulse: 100%
Posts: 4707
Joined: 9/2/03
|
they were stupid to sign the thing and then try to leave
Nov 19, 2013, 2:00 PM
|
|
Good riddance to them but - WE WANT OUR MONEY!
|
|
|
|
|
CU Medallion [67718]
TigerPulse: 100%
Posts: 115417
Joined: 11/30/98
|
Re: they were stupid to sign the thing and then try to leave
Nov 19, 2013, 2:03 PM
|
|
Hey the Under Armor guy can write that check and not even blink
|
|
|
|
|
Orange Blooded [4341]
TigerPulse: 100%
Posts: 4968
Joined: 8/6/02
|
|
|
|
|
Orange Blooded [4341]
TigerPulse: 100%
Posts: 4968
Joined: 8/6/02
|
Re: they were stupid to sign the thing and then try to leave
Nov 19, 2013, 2:08 PM
|
|
My mistake. They voted against it.
|
|
|
|
|
Scout Team [163]
TigerPulse: 50%
Posts: 230
Joined: 10/7/09
|
|
|
|
|
110%er [6208]
TigerPulse: 100%
Posts: 8857
Joined: 5/30/01
|
|
|
|
|
110%er [6034]
TigerPulse: 100%
Posts: 2535
Joined: 7/25/07
|
I voted against Obama but it has not changed anything
Nov 19, 2013, 2:17 PM
|
|
for me. I have to suffer along with everyone else under his administration.
|
|
|
|
|
Associate AD [810]
TigerPulse: 57%
Posts: 1555
Joined: 8/31/03
|
The NC court only ruled that the case will go forward, correct?
Nov 19, 2013, 2:25 PM
|
|
UM wanted the case thrown out and the NC court has ruled against them so the lawsuit will proceed.....there has been no ruling in the actual lawsuit.....that's how I understand it.....or am I missing something in today's ruling?
So the lawsuit will likely go forward and the ACC expects Maryland to pay damages that far exceed any loss the ACC has incurred due to UM leaving.....in fact, Swofford said the ACC TV contract won't change and Louisville obviously brings more athletic prestige than Maryland. I don't see how the ACC can claim damages, which would be the basis of any lawsuit.
I won't be surprised if Maryland wins this lawsuit and ends up paying nothing. How has the ACC been harmed by Maryland leaving? They haven't.
In a contract situation you can't make someone pay more than your loss if the other party wants to sever the relationship. People break contracts all the time, unless of course your dealing with the mafia. The $50 million exit fee may as well have been $200 million, the point of the exit fee being so high was to make it impossible for a school to leave, i impossible to break the contract,
|
|
|
|
|
Scout Team [163]
TigerPulse: 50%
Posts: 230
Joined: 10/7/09
|
Re: North Carolina courts uphold ACC's $52M lawsuit against Mary
Nov 19, 2013, 2:45 PM
|
|
what is the big ten paying Maryland to come onboard???
|
|
|
|
Replies: 12
| visibility 1,027
|
|
|