UMD/ACC Settle Exit Fee Battle for $31,361,788

[huskymedic]

http://www.theacc.com/#!/news-detail/agreement_08-08-14_lryjmo

"Maryland has agreed that the ACC will keep the sum of $31,361,788 previously withheld in order to resolve the lawsuits, and the ACC has agreed that Maryland will have no obligation to make any other payments to the ACC. In addition, the lawsuits filed in the State of North Carolina and Maryland will be dismissed."

 

[Excalibur]

http://www.theacc.com/#!/news-detail/agreement_08-08-14_lryjmo

"Maryland has agreed that the ACC will keep the sum of $31,361,788 previously withheld in order to resolve the lawsuits, and the ACC has agreed that Maryland will have no obligation to make any other payments to the ACC. In addition, the lawsuits filed in the State of North Carolina and Maryland will be dismissed."

Seems like neither side had much interest in continuing to pursue matters. MD can't afford to litigate and the ACC needed to avoid discovery.

 

[Exit 4]

http://www.theacc.com/#!/news-detail/agreement_08-08-14_lryjmo

"Maryland has agreed that the ACC will keep the sum of $31,361,788 previously withheld in order to resolve the lawsuits, and the ACC has agreed that Maryland will have no obligation to make any other payments to the ACC. In addition, the lawsuits filed in the State of North Carolina and Maryland will be dismissed."

Okay resident experts, where does this leave us?

Does the ACC say, hey - we have the exit fee and Notre Dame scheduling resolved, so now let's talk about UConn or does the BIG say we have the pesky exit fee resolved, now let's talk about UConn and [insert team]?

 

[Excalibur]

It leaves us nowhere. We needed a verdict, one way or the other.

 

[Stinger92860]

31m is still a lot of money and the gor holds.

 

[ktuck911]

The ACC just hit the lumpsum payout for Powerball after taxes

 

[NavinRJohnson]

Let's ask Sen Dick Bleaumenthal.

 

[bobbyinaz]

31m is still a lot of money and the gor holds.

Until someone decides to challenge it. This had nothing to do with the GOR. This was all about UMD challenging that the exit fee was excessive and that the conference by-laws were not followed when the exit fee was increased.

Someone soon, whether it is an ACC or Big 12 school, will challenge the validity of GOR. That is when things will get interesting

 

[FAIRTIDES]

Seems like neither side had much interest in continuing to pursue matters. MD can't afford to litigate and the ACC needed to avoid discovery.

Every day, Swofford got a call from an ESPN executive. Message?

"John, you understand that it never gets to ESPN having to testify under oath or provide any records. Right?"

 

[Dooley]

There's nothing in here about GOR. This is bad news for the ACC. They just settled for$20M less than their stated $51M exit fee. Why? Probably because they didn't want any of theirs and ESPiN's dirty laundry aired. This likely means that the threat of future lawsuits will lead to future settlements. In other words, the ACC exit terms are not as lock-tight as everyone thought. This is nothing but good news for UCONN. Either it means UCONN can now be paired with an ACC team in the near-term OR the ACC will look to UCONN to replace a school that is poached by the B1G or SEC.

 

[Colt house75]

Okay resident experts, where does this leave us?

Does the ACC say, hey - we have the exit fee and Notre Dame scheduling resolved, so now let's talk about UConn or does the BIG say we have the pesky exit fee resolved, now let's talk about UConn and [insert team]?

I tend to think ESPN calls the shots......ask the boys in Bristol what their next move in college sports will be......

 

[Uconnalliance]

Was that their dream payout?