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Freshman [0]
TigerPulse: 20%
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Joined: 3/27/14
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Wonder how much the ACC will have to give back to Md
Mar 27, 2014, 12:55 PM
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Apparently the ACC has been withholding money due Marlyand for participation in the 2013-2014 athletic season.
The exit fee is still in the courtroom and the ACC is behaving like its won the case.
I cant wait to see the outcome of this.
FWIW- I think the ACC violated ints own procedures when implementing the accelerated exit fee.
So I Dont see how they can enforce it.
I think it was around $18-$21 million before they hurriedly changed it.
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110%er [6937]
TigerPulse: 88%
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Re: Maryland is up the creek without a paddle.***
Mar 27, 2014, 1:54 PM
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Orange Blooded [2506]
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Re: Maryland is up the creek without a paddle.***
Mar 27, 2014, 3:21 PM
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Perfect, all they gotta do is float down to get where they're supposed to be.
Never understood that saying and always thought it was backasswards.
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All-TigerNet [10491]
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I think b/c the expression is usually "shit's creek"
Mar 27, 2014, 3:36 PM
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I wouldn't want to float down that!
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110%er [8244]
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Re: Wonder how much the ACC will have to give back to Md
Mar 27, 2014, 4:41 PM
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Who has the money? Enough said
Maryland knew they were going to leave they could have extended notice to the ACC before it was voted on to increase the buyout
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Freshman [0]
TigerPulse: 20%
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Re: Wonder how much the ACC will have to give back to Md
Mar 27, 2014, 4:51 PM
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after reading the ACC by laws- they fIled failed to follow their own rules.
based on the information i have tracked.
i may not have privy to all the documents or timeline- but whats been made public
the ACC has clearly violated its on bylaws.
curious to see if it holds up.
more than likely they will be responsible for the roughly $20 million buyout prior to that vote.
also it may be less due to the fact that the fee was really for monetizing lost revenue that never occurred.
the acc replaced maryland with a more lucrative program.
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110%er [6937]
TigerPulse: 88%
Posts: 22594
Joined: 5/4/03
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Re: If this case goes to trial and I don't think it will, do
Mar 27, 2014, 8:10 PM
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you think it will be tried in Maryland. Swofford may not be be that well liked but he did not fall of the cabbage wagon yesterday.
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Orange Blooded [2253]
TigerPulse: 100%
Posts: 2967
Joined: 11/30/98
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Could be that we have a turtle among us !! *****
Mar 27, 2014, 4:48 PM
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Orange Blooded [2438]
TigerPulse: 100%
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Joined: 6/13/11
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Well, to be fair, can't blame a Turtle for "stewing".....***
Mar 27, 2014, 9:02 PM
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Freshman [0]
TigerPulse: 20%
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Re: Could be that we have a turtle among us !! *****
Mar 28, 2014, 8:46 AM
[ in reply to Could be that we have a turtle among us !! ***** ] |
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not a turtle
actually glad to exchange maryland for louisville
soccer is probably the only sport worth warching a clemson maryland matchup
thinking about down the road as the acc loads up its voting members that favor basketball over football. gotta remember that fellas
also maryland was the school that wtood up for us during the probation years for you guys too young to remember
can you change the constitution in 30 days without due process tot he tune of most schools' in the conference entire athletic budget
due process and proper venting was sidelined for expedience based on fear
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Orange Blooded [2663]
TigerPulse: 76%
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Joined: 1/4/07
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Zero. Maryland entered into a contract. They knew what the
Mar 27, 2014, 5:19 PM
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exit fee was when they did so. They were fully within their rights to indicate that they'd decided to become an Independent, rather than sign.
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Freshman [0]
TigerPulse: 20%
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Re: Zero. Maryland entered into a contract. They knew what the
Mar 27, 2014, 5:55 PM
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Section IV-5. Withdrawal of Members.
To withdraw from the conference a member must file an official notice of withdrawal with each of the conference members and the commissioner on or before August 15 for the withdrawal to be effective June 30 of the following year.
Upon official notice of withdrawal, the member will be subject to a withdrawal payment, as liquidated damages, in an amount equal to one and one-quarter (11?4) times the total operating budget of the Conference (including any contingency included therein), approved in accordance with Section V-1 of the Conference Bylaws, which is in effect as of the date of the official notice of withdrawal. The Conference may offset the amount of such payment against any distributions otherwise due such member for any Conference year. Any remaining amount due shall be paid by the withdrawing member within 30 days after the effective date of withdrawal. The withdrawing member shall have no claim on the assets, accounts or income of the Conference. (Revised: September 2011)
Section X-1. Amendment Procedures.
This Constitution may be amended at any regular or special meeting by three-fourths of the members. The proposed amendment shall be submitted, in writing, four weeks before the meeting, through the commissioner to the Constitution and Bylaws Committee for review. The Commissioner shall send complete copies of the proposed amendments to all members at least fifteen (15) days before the meeting.
Section X-2. Effective Date.
Any amendments to the Constitution and Bylaws are effective July 1 following enactment, unless provided otherwise.
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Fan [70]
TigerPulse: 20%
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Joined: 9/21/12
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Re: Zero. Maryland entered into a contract. They knew what the
Mar 27, 2014, 6:21 PM
[ in reply to Zero. Maryland entered into a contract. They knew what the ] |
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just because it's written in a contract doesn't mean it's legally enforceable. Ask yourself, does 50 million dollars sound punative? and is it not reasonably related to what the breach would actually cost the ACC? then the contract would be uneneforcable
and it would seem like it sense Pitt/Cuse/WVU all left the Big East for a lot less, and the ACC won't really lose anything since Louisville in athletics is an upgrade.
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110%er [6937]
TigerPulse: 88%
Posts: 22594
Joined: 5/4/03
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Re:Oh hell, a Coot lawyer from that famed law school in
Mar 27, 2014, 8:15 PM
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Columbia. Tell me, were you able to keep your accreditation?
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Head Coach [757]
TigerPulse: 72%
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Joined: 5/23/12
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and misspelled words... priceless***
Mar 27, 2014, 9:19 PM
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Fan [70]
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Head Coach [757]
TigerPulse: 72%
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Joined: 5/23/12
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Hope they pay every penny!!! And then good riddens***
Mar 27, 2014, 9:17 PM
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Orange Blooded [2438]
TigerPulse: 100%
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Joined: 6/13/11
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They should have to kick in an extra million or so for subjecting our eyes to those unis.***
Mar 27, 2014, 9:22 PM
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