Correct but do you see any language the the GOR is conditioned upon that exercise?
The only assertions on the GOR being tied specifically to the ESPN contract that I know of were statements on this board by billybud more than once that it was only for that contract.
Not knowing what the actual case is, logically there are only three possibilities on the GOR (which we do know runs through 2036):
1 - it is only tied to the specific ESPN deal and any extensions of that deal through the GOR expiration, with the GOR ending early if that deal ends prior to the GOR end date.
2 - the GOR is for any contract with similar principles/partners of the initial deal until the GOR expiration date.
3 - the GOR is for any and all media deals until its expiration date.
I'm thinking that it is most likely somewhere between possibities one and two and that the language may be vague enough where it would take a court to determine it if it comes to that (ESPN not exercising the option but negotiating a new agreement with the ACC). If it gets to that, all hell may break loose as a number of schools will make very significant decisions on basically faith that the courts will lean in their direction.