AAC holding 5m payment in escrow

[Da_Aisijimo_Gou]

I’m sure the contracts say they do it. Every league has done it. Just funny.

Just bidness, purportedly like the AAC held back payments in escrow when Rutgers departed. Or, the ACC with Maryland. There’s no crying in baseball

 

[BlueandOG]

Just flashed across my phone. First exit payment I guess. We want ze money Lebowski

Ya, otherwise we kill ze girl

 

[bobbyinaz]

And this might do exactly that if the American bylaws don’t allow for the withholding of payments during the 27 month exit period. Connecticut could argue that the AAC has breached it’s a contract with us and that we will be damaged further unless we are allowed to leave.

There was language in the old agreement where as soon as Rutgers & Louisville announced they were leaving the conference immediately withheld payments.

I'm sure that same language appears in the new AAC bylaws

 

[CL82]

There was language in the old agreement where as soon as Rutgers & Louisville announced they were leaving the conference immediately withheld payments.

I'm sure that same language appears in the new AAC bylaws

I'm not sure, but it is possible if not likely. The question is how much? Is it only up to the full amount of the unpaid exit fee? After that it seems it seems punitive and in excess of the the liquidated damages amount.

 

[SU1968]

This is no big deal. It happened when the several schools left the oBE and when Maryland left the ACC.

 

[weyuo]

The reality of it: UConn has little if any friends in the collegiate sports world. Certainly none in the ACC or we would have been in there ahead of Louisville. The B1G's perspective is, "Should we pick the AG school or the one located in NYC's landfill? We'll go with Rutgers. They both smell but Rutgers is closer to The City." And UConn shouted loud and clear that they would be out of the AAC as soon as humanly possible so you can't really blame Aresco and the rest of the AAC for not wanting to shake hands and wish the Huskies the best of luck in their new football adventure. The Big East took the basketball teams back because they need UConn more than UConn needs them and that's the only reason. If the ACC or B1G called tomorrow the Huskies would be out of the Big East faster than they were the AAC.

The collegiate world has lost respect for UConn and the only way you gain that respect back is by winning, winning and more winning to the point where you've won so much that they can't avoid you completely in tournaments or bowl games. And then you beat their face to face on TV and that's your trophy, your measure of success that you bring to recruits and say,"Hey join up with us. We can beat anybody and have."

 

[noeynox]

The reality of it: UConn has little if any friends in the collegiate sports world. Certainly none in the ACC or we would have been in there ahead of Louisville. The B1G's perspective is, "Should we pick the AG school or the one located in NYC's landfill? We'll go with Rutgers. They both smell but Rutgers is closer to The City." And UConn shouted loud and clear that they would be out of the AAC as soon as humanly possible so you can't really blame Aresco and the rest of the AAC for not wanting to shake hands and wish the Huskies the best of luck in their new football adventure. The Big East took the basketball teams back because they need UConn more than UConn needs them and that's the only reason. If the ACC or B1G called tomorrow the Huskies would be out of the Big East faster than they were the AAC.

The collegiate world has lost respect for UConn and the only way you gain that respect back is by winning, winning and more winning to the point where you've won so much that they can't avoid you completely in tournaments or bowl games. And then you beat their face to face on TV and that's your trophy, your measure of success that you bring to recruits and say,"Hey join up with us. We can beat anybody and have."

Such a stupid post.

 

[weyuo]

Such a stupid post.

Ha! The truth hurts. But that's what it is.

 

[billybud]

I'm not sure, but it is possible if not likely. The question is how much? Is it only up to the full amount of the unpaid exit fee? After that it seems it seems punitive and in excess of the the liquidated damages amount.

There is the full amount of the Exit Fee... if UConn is staying the full 27 months.

UConn announcing they want to leave earlier than 27 months meant that the AAC could hold back more than the $10 million in anticipation of additional liquidated damages.

Those to be determined in a settlement or in court.

 

[CL82]

There is the full amount of the Exit Fee... if UConn is staying the full 27 months.

UConn announcing they want to leave earlier than 27 months meant that the AAC could hold back more than the $10 million in anticipation of additional liquidated damagas.

Not so sure about that. It is a tougher argument to "anticipate" a breach and look for "damages" for an event that hasn't happened yet. Possible, but tougher.

Keep in mind that UConn would have to make a capital outlay for production facilities in 2020 that won't (necessarily) need in the NBE. Courts are unlikely to compel that. Finally, UConn is forced to pay for T3 production costs for a deal to which they object in 2020. It's a really difficult and in equitable argument to make that that they should bear this cost while the American withholds fees.

(FWIW "liquidated damages = agreed damages. Anticpating "agreed" damages does really work. It's not critical to the point you are trying to make though.)

 

[billybud]

As the ACC found with Maryland, having the cash in your hand is better than getting beaten out of it...

In the Maryland settlement...the ACC said, "well, we've already got $32 million of your money, we'll call it quits at that. Vayo Con Dios."

 

[CL82]

As the ACC found with Maryland, having the cash in your hand is better than getting beaten out of it...

In the Maryland settlement...the ACC said, "well, we've already got $32 million of your money, we'll call it quits at that. Vayo Con Dios."

UConn would take $7.5M and a 2020 departure date in a heartbeat. Why don't you phone up Aresco and see if you can make it happen.

 

[billybud]

UConn would take $7.5M and a 2020 departure date in a heartbeat. Why don't you phone up Aresco and see if you can make it happen.

Yeah...nice idea...but my influence is about worth what the idea is.

Aresco knows that he has the upper hand. And no need to settle this early.

It is UConn that has the need to leave early...and it is Aresco who is garnishing the bank account. And the more that bank account grows, the more likely that his conference will settle for a higher amount... thus the stronger his hand.

 

[CL82]

Yeah...nice idea...but my influence is about worth what the idea is.

Aresco knows that he has the upper hand. And no need to settle this early.

It is UConn that has the need to leave early...and it is Aresco who is garnishing the bank account. And the more that bank account grows, the stronger his hand.

To a point. Get too greedy and you give UConn the argument that they no longer are being treated fairly.

You compared UConn's departure to Maryland's. I'm merely point out that paying less than the full exit fee and leaving early is the best of all possible worlds for us, so I like your comparison.

 

[billybud]

And in Aresco's worst scenario, as in the ACC with Maryland...all he'd be doing is keeping everything that he had held back.

His interest is to grab all the UConn revenue that he can before gracefully saying.."we wish UConn success in their endeavors".

 

[Guapo]

This is no big deal. It happened when the several schools left the oBE and when Maryland left the ACC.

Your font color is disgusting.






And so is your school.

 

[billybud]

Another example would be WVU's exit from the Big East.

The normally required Exit Fee was $5 million with 27 months notice...The Big East settled for $20 million to allow WVU to leave early.

 

[Exit 4]

Such a stupid post.

I have not read more than four words from one of his posts in years.