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  1. #1
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    Six or nine to dissolve?

    Hey guys,

    Just wondering if anybody ever found out, for sure, how many votes are needed to dissolve the conference.

    If it's 6, I think we there's a possibility that the North teams could vote to dissolve the conference, and head for the Big East.

    Poetic justice that the greedy south would be left homeless (even briefly) and Dan Beebe would look even more worthless as he was unable to even keep the "weakling" members of the conference on board.

    If it's 9 votes, I feel like his last-ditch Big 12-lite idea might work, which is really a bummer for us.



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    Re: Six or nine to dissolve?

    and that would be stupid if there is a 17 million a year per school tv deal in the works. I'll stick with texas as long as they'll have us, thanks.


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    Re: Six or nine to dissolve?

    Actually the Delaware law requires majority which is 7.

    So in response to your question, neither.


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    Re: Six or nine to dissolve?

    it's either 7 or 9. I've heard 9 more than 7.


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    Re: Six or nine to dissolve?

    The real question is can you still vote to dissolve the conference even after you've declared you are leaving.


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    Re: Six or nine to dissolve?

    17 million sounds good. I don't believe it.



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    Re: Six or nine to dissolve?

    Quote Originally Posted by everyyard View Post
    and that would be stupid if there is a 17 million a year per school tv deal in the works. I'll stick with texas as long as they'll have us, thanks.
    I had heard (among countless other things) that an expanded Big East's contract could be in the 16-17M range.

    It's all speculation, so I should have stated "assuming the money is at least comparable."



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    Re: Six or nine to dissolve?

    Quote Originally Posted by HiltonMagic View Post
    it's either 7 or 9. I've heard 9 more than 7.
    Big 12 Bylaws

    Here are the bylaws. The 9 number is coming from people extrapolating the 75% majority required to get rid of or add members to include disolving the conference. Two entirely different things

    Delaware law

    Here is the Delaware law that applies to dissolving a corporation in Delaware (which the Big 12 is). Section 274 and 275.

    The number is 7.


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    Re: Six or nine to dissolve?

    Quote Originally Posted by HiltonMagic View Post
    it's either 7 or 9. I've heard 9 more than 7.
    Apparently, there is no mention of disbanding in the by-laws. That means that they do defer to the state law with is simple majority. The question I have is whether Nebraska and Colorado still get a vote. If not, that means that it would take 6 out of the 10 remaining schools to vote to disband. That means if KU, KSU, MU, ISU, and Baylor remain, the conference may not dissolve immediately.



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    Re: Six or nine to dissolve?

    Quote Originally Posted by vmbplayer View Post
    Big 12 Bylaws

    Here are the bylaws. The 9 number is coming from people extrapolating the 75% majority required to get rid of or add members to include disolving the conference. Two entirely different things

    Delaware law

    Here is the Delaware law that applies to dissolving a corporation in Delaware (which the Big 12 is). Section 274 and 275.

    The number is 7.
    But since there is no disbanding mentioned in the bylaws, it is believed to be mentioned in another document that is not public knowledge.



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    Re: Six or nine to dissolve?

    Quote Originally Posted by vmbplayer View Post
    The real question is can you still vote to dissolve the conference even after you've declared you are leaving.
    This is my question, if I am a partner in a partnership and I inform them of my intention to leave I can't imagine them letting me vote in matters affecting the partnership I no longer want to be part of.



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    Re: Six or nine to dissolve?

    Quote Originally Posted by Clonehomer View Post
    Apparently, there is no mention of disbanding in the by-laws. That means that they do defer to the state law with is simple majority. The question I have is whether Nebraska and Colorado still get a vote. If not, that means that it would take 6 out of the 10 remaining schools to vote to disband. That means if KU, KSU, MU, ISU, and Baylor remain, the conference may not dissolve immediately.
    That will be key in my opinion. Same thing for if NE and CU owe the conference money even if it dissolves. Since they left before any vote was held to dissolve the conference. None of those questions are easily answered. Thats where the legal process is going to go with this. IMO it seems NE and CU owe 80% of their conference revenue for this year, and the previous year based on section 3.3 of the bylaws. The current term should end on July 2011 if it automatically renewed for five years in '06 as outlined in the bylaws. That means both NE and CU only gave 13 months notice before the end of the term which makes it a whopping 80%. Which assuming they made 9 million last year would be 14.4 million each, not the 10 million being thrown around. The 10 million would be if they gave a full 2 year notice and only owed 50%.


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  13. #13
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    Re: Six or nine to dissolve?

    Quote Originally Posted by isufbcurt View Post
    But since there is no disbanding mentioned in the bylaws, it is believed to be mentioned in another document that is not public knowledge.
    That may be, but I don't know other than an amendment of the bylaws or maybe the articles of incorporation what that could be. Otherwise I don't know what document could have the legal authority. If there isn't another document it would default to DE law which requires the simple majority.

    I think if another document does exist it would have to be an amendment of the Bylaws and I would be surprised that they didn't include it in the conference handbook online.

    Quote Originally Posted by isufbcurt View Post
    This is my question, if I am a partner in a partnership and I inform them of my intention to leave I can't imagine them letting me vote in matters affecting the partnership I no longer want to be part of.
    Exactly, you aren't acting in good faith of the corporation any longer. This is going to be a big legal battle I think.


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    Re: Six or nine to dissolve?

    On a related note, does anyone know why the Big12 is incorporated in Delaware? It isn't exactly in the Big12 footprint.



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    Re: Six or nine to dissolve?

    Quote Originally Posted by Clonehomer View Post
    On a related note, does anyone know why the Big12 is incorporated in Delaware? It isn't exactly in the Big12 footprint.
    Many corporations are. Delaware provides very helpful laws to them.


    Why Incorporate in Delaware?


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