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- May 21, 2012
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And how is the Big 12 going to get that TV money? Who is giving it them? ESPN or whoever takes the Tier 1 Big Ten rights in a couple years? The BTN on the Tier 2 rights?
The Big 12 is going to have to go to court to try and get that money just as the Big East had to go to court to try and get WVU to stay.
Good luck seeing a dime of the TV monies. What the Big 12 will see is a negotiated price for reneging on the GOR which won't come anywhere near the full value of Texas' TV rights but will likely be more than a $20 million exit fee.
Everyone wants to equate the Big 12 GOR with the GOR the Big Ten (and now the Pac-12) has. The difference is that each member institution has an equity share of the BTN and whatever the Pac Network will call itself. The BTN is valued at 3 billion dollars. No institution is likely to walk away from an asset that is currently worth $127 million on the books.
There is no comparing the two situations. And if Texas wants to join the BiG (which they don't), I'm sure the BiG will make them an equity partner right away so paying somewhere between $25-$30 million for reneging on the GOR is chicken feed in the long term.
Cheers,
Neil
My suggestion would be for you to search for "grant of rights" in Google and read the many articles out there on why a grant of rights contract is considered unbreakable... It sounds like to me you think that because West Virginia got out of their contract, anyone else can get out of any contract anytime they feel like it, and that anybody can get away with anything legally.
The reason West Virginia got out of their contract was because courts normally don't issue injunctions or mandate specific performance when awarding damages is possible. But if I were to sign my car over to someone, I couldn't come back a week later and say I wanted it back... There were be zero chance the courts would side with me.