WOW...CU and Nebbie buyout penalties
- Thread starter isuno1fan
- Start date
That would be a nice 4 mil per a school. However, what worries me is the fact that they are discussing what to do with it. It should be simple, split it evenly.
Or provide seed money for one or more TV networks?
Or discuss inviting Memphis to the Big IIXII (for their $10M), and then seeing if we couldn't get another big name to budge to join us for some of that pot.
If that amount is accurate, The Big 12 should seriously consider investing part of it, at least, in a Big 12 network. That would go a long way toward the start-up costs, I'd suspect.
810 Radio was talking about this today and how NU will try to get out of paying because they will say the conference is worth more now that they left. I imagine this will go to court and there will be a settlement.
These are not penalties to be paid, this is the amount that the Big XII will withhold from NU and CU. They won't have a choice whether or not to "pay up", because they just won't get it to begin with. That's according to Blair Kerkoff from the KC Star, who was on Omaha radio on Friday.
It's pretty likely that a fair amount of lawyerin' will be going on with this.
It's pretty likely that a fair amount of lawyerin' will be going on with this.
The Big 12 bylaws (which I assume NU signed) specify liquidated damages, in which the actual effect on the conference of a team leaving is irrelevant. NU should lose, and then the judge should throw in an additional $10 million in punitive damages for wasting the court's time, and stick them with all the attorney's fees...
What I heard from some friends in Omaha Nebraska says they aren't going to pay to which the Big 12 says fine your not getting any money from us this year...this explains why pollard said the lawyers are working it out when asked last week about the buyout money.
In theory NU is correct but now you have to take into account the schools needing to change up schedules. The Big 12 schools may have to pay buyouts to the schools getting dropped in future schedules, this is not cheap. If each school were to split the penalty money evenly there may be some schools that go into the hole by having to pay those buyouts. ISU comes to mind if you have to buyout Utah, UCONN or Air Force.
According to what television tells me, and I have never known it to lie, this is where the investment should be.
[ame=http://www.youtube.com/watch?v=HqZbeg0i15o]YouTube - Gold & Coin Exchange INVESTMENT COMMERCIAL (Marietta, GA)[/ame]
How can Colorado pay the coaches/travel/etc. without getting paid? Not as I care.
Didn't JP indicate that this money would be earmarked to "make TX, OU and aTm whole" if at some future point it is determined that it cost them money to stay in the Big XII. If TX starts it's own network it would be tough for them to argue they suffered financialy by not going to the ac 10.
Assuming they both get money withheld, which they should, they'll probably look to their new conferences to help pick up the burden.
They may need to sell the Beemer and the condo in Summit County. It's almost inhumane.
