Re: Marlyand must pay $52 million to for joining Big 10
Is that like an ATM machine?
And the gestapo police did not say anything?
Is that like an ATM machine?
And the gestapo police did not say anything?
Don't know about the legal stuff, but didn't the Big 12 pay half of WVU's $20 million exit fee?
Don't remember...
But on the legal stuff...(for the lawyers out there) couldn't Maryland tell the ACC to **** off and send this to Federal court?
The ruling was that the Court allowed the lawsuit to proceed...not that Maryland owes the $52 million (yet).
No for exit fees (or any contractual fee intended to mitigate loss) the standard is that the fee should not exceed the actual loss incurred which is why most figured the entire 52 million wouldnt hold up as Louisville is really just as valuable to the acc so the costs would actually be more in line with fixed actual costs like reprinting crap transitioning louisville etc. So it is very possible this will happen at a next level appeal and the actual fees are much less. Would be interesting to read the ruling though.I have a question for CF legal counsel;
Is arbitration an option for Maryland & the ACC or is the amount ~$50 million a win or lose proposition now? Is Maryland's only hope (to NOT pay the ACC $50 million) winning their appeal?
Also, is the B1G paying for this?
No. You can contest jurisdiction but not after you get a judgment. Also, I don't see any federal issues here.
Not sure if the B1G is helping them with the fee per se, but the B1G is giving Maryland additional "travel expense" monies on top of conference revenue because of how far away they are from the rest of the league. Plus they are getting a bigger share of revenues up front than what Nebraska got because their financials are a complete mess.