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Thread: Big XII buyout

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    Big XII buyout

    I remember seeing an article that talked about schools having to pay $10M in order to leave the Big XII, but I can't find any more info about it.
    Does anyone know the details of this? Is it possible that being one of the last teams to leave the Big XII could benefit ISU financially?



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    Re: Big XII buyout

    The way I understand it... there is a $10 mil buyout to leave the conference unless 9 teams vote to dissolve the conference.



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    Re: Big XII buyout

    Quote Originally Posted by MNclone View Post
    I remember seeing an article that talked about schools having to pay $10M in order to leave the Big XII, but I can't find any more info about it.
    Does anyone know the details of this? Is it possible that being one of the last teams to leave the Big XII could benefit ISU financially?
    If the league dissolves, then nobody will owe anything. Which is further evidence why the south is gone next.


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    Re: Big XII buyout

    Quote Originally Posted by jtdoyle1 View Post
    The way I understand it... there is a $10 mil buyout to leave the conference unless 9 teams vote to dissolve the conference.
    It doesn't take 9 to dissolve. It only takes a simple majority. When the Big 12 was incorporated in Delaware, no mention of dissolving in the bylaws, and the law states that everything is null and void when the majority says 'no mas'


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    Re: Big XII buyout

    So then we start talking to KU, KSU, Mizz, and Baylor about not voting to disolve, collect the $70M from everyone who leaves. Then we decide to call it quits and leave for the Big East. It's like taking candy from a Texas baby.



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    Re: Big XII buyout

    Quote Originally Posted by MNclone View Post
    So then we start talking to KU, KSU, Mizz, and Baylor about not voting to disolve, collect the $70M from everyone who leaves. Then we decide to call it quits and leave for the Big East. It's like taking candy from a Texas baby.
    Not if it only takes a simple majority to dissolve the conference. There seems to be some uncertainty on what the rule actually is.



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    Re: Big XII buyout

    Quote Originally Posted by MNclone View Post
    So then we start talking to KU, KSU, Mizz, and Baylor about not voting to disolve, collect the $70M from everyone who leaves. Then we decide to call it quits and leave for the Big East. It's like taking candy from a Texas baby.
    1. Colorado
    2. Nebraska

    3. Texas
    4. Texas A&M
    5. Texas Tech
    6. Oklahoma
    7. Oklahoma State

    7 of 12 is a majority ... The Big 12 is dead.

    Welcome to the wild west ... pray for the Big East.


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    Re: Big XII buyout

    Quote Originally Posted by MNclone View Post
    So then we start talking to KU, KSU, Mizz, and Baylor about not voting to disolve, collect the $70M from everyone who leaves. Then we decide to call it quits and leave for the Big East. It's like taking candy from a Texas baby.
    5 remaining members can't make 7 leaving pay anything because 7 leaving dissolves the corporation so the buyout clause is no longer in existence. Six is the magic number to collect a buyout payment.



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    Re: Big XII buyout

    Nebbie Prez just stated that under the circumstances they shouldn't have to pay the leaving penalty. What circumstances you leaving. Tools.



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    Re: Big XII buyout

    Do not expect a penalty by CU et al. That is the way it will end up.


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    Re: Big XII buyout

    At this point, I think we can expect to get more money from cans left around the Jack this fall, than we'll ever see from the breakup of the Big XII.

    Getting out of any payment was certainly as coordinated as everything else.



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    Re: Big XII buyout

    Quote Originally Posted by DaddyMac View Post
    Getting out of any payment was certainly as coordinated as everything else.
    DING!


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    Re: Big XII buyout

    Do the teams that stated they are leaving get a vote? If these schools keep leaving one by one and they lose their ability to vote, then suddenly 5/9 is a majority. So lets say that A&M or OU go to the SEC next. Couldn't the remaining teams then have a majority?



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    Re: Big XII buyout

    Quote Originally Posted by Clonehomer View Post
    Do the teams that stated they are leaving get a vote? If these schools keep leaving one by one and they lose their ability to vote, then suddenly 5/9 is a majority. So lets say that A&M or OU go to the SEC next. Couldn't the remaining teams then have a majority?

    They probably have a vote until they actually leave - so around 2011.

    They're still members this fall and winter.



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    Re: Big XII buyout

    But since Colorado and Nebraska have both officially accepted offers to other conferences, are they still considered members of the Big XII? Would their votes count?



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