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  1. #1
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    Potential Buyout

    So far what I have found and I am not real sure on it is that 9 members must vote to dissolve to cancel the buyouts. The buyout can be 50-100% of the conference revenue last year.

    First: I can't find 9 teams to vote to dissolve even if Missouri is invited to the Big Ten.

    Second: Even at 50% that is around 50 million. There's some coin there.


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    Re: Potential Buyout

    no way that we get any buyout money. not with texas in the mix.


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    Re: Potential Buyout

    Quote Originally Posted by yaman3 View Post
    So far what I have found and I am not real sure on it is that 9 members must vote to dissolve to cancel the buyouts. The buyout can be 50-100% of the conference revenue last year.

    First: I can't find 9 teams to vote to dissolve even if Missouri is invited to the Big Ten.

    Second: Even at 50% that is around 50 million. There's some coin there.
    The 4 or 5 remaining Big 12 schools have to stick toghther the more i think about it because all 4 of those will want the buyout the others will have to pay, maybe ISU does have a little leverage because they will hold one of those votes. Maybe could force whoever is left to take us wherever they go.



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    Re: Potential Buyout

    Definitely the best case scenario. If things progress the way everyone thinks they will, and four teams are left out of a major conference, they better receive some major money for the pain. Would definitely help ease the pain.


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    Re: Potential Buyout

    This is the current rumor going around;

    "1. The Big XII charter by design when Texas joined the league, defined the Big XII as a corporation in Delaware. If the league is “dissolved” by 7 members leaving (current scenario), then no penalties are owed to the remaining members. They are flat out of luck."



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    Re: Potential Buyout

    Quote Originally Posted by Chipper View Post
    This is the current rumor going around;

    "1. The Big XII charter by design when Texas joined the league, defined the Big XII as a corporation in Delaware. If the league is “dissolved” by 7 members leaving (current scenario), then no penalties are owed to the remaining members. They are flat out of luck."
    That may be right, I don't know.


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    Re: Potential Buyout

    Someone on the radio today said if a majority (7) of the teams leave, the Big 12 conference charter is dissolved. In essence, the conference ceases to exist. If the remaining teams want to bring in more teams, they still need to form a new charter. Not sure how that affects buyouts.


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    Re: Potential Buyout

    Quote Originally Posted by everyyard View Post
    no way that we get any buyout money. not with texas in the mix.
    Well if my posting is true, it could. Why wouldn't it? I am pretty sure that Texas has just one vote. Why would remaining teams vote with Texas?


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    Re: Potential Buyout

    Quote Originally Posted by Chipper View Post
    This is the current rumor going around;

    "1. The Big XII charter by design when Texas joined the league, defined the Big XII as a corporation in Delaware. If the league is “dissolved” by 7 members leaving (current scenario), then no penalties are owed to the remaining members. They are flat out of luck."
    Quote Originally Posted by michaelrr1 View Post
    Someone on the radio today said if a majority (7) of the teams leave, the Big 12 conference charter is dissolved. In essence, the conference ceases to exist. If the remaining teams want to bring in more teams, they still need to form a new charter. Not sure how that affects buyouts.
    Guess that's what was being talked about.


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    Re: Potential Buyout

    Quote Originally Posted by michaelrr1 View Post
    Someone on the radio today said if a majority (7) of the teams leave, the Big 12 conference charter is dissolved. In essence, the conference ceases to exist. If the remaining teams want to bring in more teams, they still need to form a new charter. Not sure how that affects buyouts.
    I heard it was a super-majority (9)


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    Re: Potential Buyout

    Quote Originally Posted by michaelrr1 View Post
    Guess that's what was being talked about.
    Well then that sucks.


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    Re: Potential Buyout

    There's got to be a loophole, like the one stated above. If not, Texas will find a way to screw us out of any money. Not to be a Debbie Downer, but let's face it, we're screwed from every angle on this ordeal.


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    Re: Potential Buyout

    Quote Originally Posted by michaelrr1 View Post
    Someone on the radio today said if a majority (7) of the teams leave, the Big 12 conference charter is dissolved. In essence, the conference ceases to exist. If the remaining teams want to bring in more teams, they still need to form a new charter. Not sure how that affects buyouts.
    I believe the buyouts are paid before they leave the conference. So they still have to pay even if it only takes 7 votes to dissolve.



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    Re: Potential Buyout

    Quote Originally Posted by cytech View Post
    I believe the buyouts are paid before they leave the conference. So they still have to pay even if it only takes 7 votes to dissolve.
    you don't get how this whole thing works for us...IT DOESN'T. It doesn't matter what agreements were made, what the contract says, etc. Texa$ will have better lawyers.


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    Re: Potential Buyout

    Quote Originally Posted by cytech View Post
    I believe the buyouts are paid before they leave the conference. So they still have to pay even if it only takes 7 votes to dissolve.
    Suppose seven teams resign Friday?


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