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CU Guru [1177]
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What is the exit fee to leave the ACC?........
Jun 9, 2010, 10:30 AM
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Reports are that Colorado, Neb and Missouri will have to pay $10 million to leave the BIG 12 unless 9 schools vote to disband the conference.
I believe the exit fee in the Big East is $20 million unless you give a 27 month notice and then it would be $10 million.
What is the exit fee to leave The ACC? What if the SEC comes calling, are Clemson, Miami, GT, FSU willing to pay $10 million to jump ship?
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Hall of Famer [22965]
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If left up to me--the only exit fee Clemson should extend
Jun 9, 2010, 10:33 AM
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would be to fax a copy of a middle finger to the ACC Office Att:John Swofford
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CU Guru [1653]
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follow up question
Jun 9, 2010, 10:33 AM
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Would the SEC have the right to renegotiate their TV contract? The ink is barely dry on the deal they already made. Waiting 10 plus years to renegotiate could be a real deterrent to expansion.
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110%er [7022]
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Re: follow up question
Jun 9, 2010, 10:36 AM
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my guess is yes and there was enough forward thinking to through a clause in the contract for such scenarios
if i had to bet i would say the contract dissolves if the conference alters it's makeup
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110%er [6592]
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yes, why dont people get this
Jun 9, 2010, 10:45 AM
[ in reply to follow up question ] |
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neither party would have signed a contract that didnt offer certain protections to itself's product and best interest. You would be a complete fool to do this on either side. Every contract has certain qualifying events that allow for contract termination or renegotiation should certain events occur.
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CU Guru [1653]
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link please?***
Jun 9, 2010, 10:53 AM
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110%er [6592]
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www.commonsense.com
Jun 9, 2010, 10:58 AM
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its the first rule anyone writing a contract should know, protect yourself and your investment and not paint it in a corner.
However, if you insist, there was an article written last week I believe where SEC commish mentioned that renegotiation could occur.
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CU Guru [1653]
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I am not asking what their contract SHOULD say
Jun 9, 2010, 1:20 PM
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I am asking what it does say. I can give you hundreds of examples of poorly written contracts. So again, if someone has a link, it would be appreciated.
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CU Guru [1653]
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you mean like the contract we signed with Tommy Bowden
Jun 9, 2010, 1:27 PM
[ in reply to www.commonsense.com ] |
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and then let him go less than a year later, BUT keep paying him every year?
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110%er [6592]
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actually yes perfect example
Jun 10, 2010, 8:19 AM
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like it or not the buy out saved us money. By having a buyout clause, it kept us from having to pay the full amount due to him by the remainder of the whole contract, which is a whole lot more than the 3.5 million or whatever we ended up paying him. Im not going to sit here and argue whether the decision was right or wrong cause that isnt the discussion. But yes this is a perfect example of how both parties put things in a contract to protect each's interest.
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110%er [7980]
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A bottle of Tawny Port and some Roquefort***
Jun 9, 2010, 10:34 AM
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CU Guru [1335]
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Clemson should send them an e-mail and say, the ACC
Jun 9, 2010, 10:46 AM
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had me pay any exit fee back in the 80s when they put that 3rd year of probation on us.
thanks for the ride but you have been paid
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Fan [52]
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Re: What is the exit fee to leave the ACC?........
Jun 9, 2010, 10:53 AM
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Sorry, no one seems to know the answer to your question.
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CU Guru [1177]
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Very true.........
Jun 9, 2010, 11:00 AM
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It could be $50 million and most on this site would not care. ie the football only fanatics who could care less about anything else.
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Fan [55]
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Re: What is the exit fee to leave the ACC?........
Jun 9, 2010, 10:57 AM
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Your first born must become a Tarhole. Is it worth it?
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CU Medallion [64621]
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I believe it's in the $5 million range
Jun 9, 2010, 11:09 AM
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I believe there is also a notice requirement and waiting period of twenty four months.
The exit fee may be higher if a school does not comply with the notice requirement.
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Letterman [264]
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Re: What is the exit fee to leave the ACC?........
Jun 9, 2010, 11:20 AM
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How much did Carolina pay to leave the ACC? I know they have posters here, so speak up.
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CU Medallion [64621]
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I don't think there were any exit fees back in 1970....
Jun 9, 2010, 11:57 AM
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when South Carolina elected to leave the ACC.
These exit fees are relatively new and were implemented to discourage conferences from raiding each other.
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All-In [36414]
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Rubbing Swoffies Bunions***
Jun 9, 2010, 12:24 PM
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Rock Defender [54]
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Not high enough to keep a school from making a
Jun 9, 2010, 12:34 PM
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change that affects the next 50+ years.
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