And how's this for Ninja Swofford striking again? No leaks, no speculation that the decision was forthcoming - just a press release from the conference. Wow.

(08-08-2014 01:00 PM)bseer Wrote:  So $31.36M plus lawyer fees is the price to leave the ACC.

Higher than that now with GOR in place

(08-08-2014 01:01 PM)stever20 Wrote:  

(08-08-2014 12:41 PM)CardFan1 Wrote:  

(08-08-2014 12:36 PM)CommuterBob Wrote:  David Teel ‏@DavidTeelatDP · 1m
ACC and Maryland announce settlement of court cases. League keeps $31.36M of previously withheld revenue. School owes no more.


Wow. Less than the $52M prescribed by the ACC, but more tan the $25M that was the previous exit fee.

Heck Louisville left the AAC almost that much behind with credits and early penalties.

Louisville left the AAC with 18 million in units valued at todays rates. Probably closer to 22 million or so...

Maryland left the ACC with 1.5 million in units valued at todays rates. Won't go that far up.

So exit fee plus units-
Louisville 33 million
Maryland 33 million

Units are shared revenue with the conference though. They aren't specifically due to the school.

(08-08-2014 12:58 PM)Dasville Wrote:  For all the ACC bashers, how is this "not" a win for the ACC?

http://www.news-record.com/sports/articl...l?mode=jqm

Quote:The league’s Council of Presidents voted unanimously Friday to file suit.

“We continue to extend our best wishes to the University of Maryland; however, there is the expectation that Maryland will fulfill its exit fee obligation,” commissioner John Swofford said in a statement. “On Friday, the ACC Council of Presidents made the unanimous decision to file legal action to ensure the enforcement of this obligation.”

The ACC voted to raise the exit fee to three times its annual operating budget — which totals around $52.3 million this year — when it added Notre Dame as a member in all sports but football in September.

Quote:The ACC has remained adamant that it will enforce the entire $52 million and that the new exit fee is “legally binding.”

An ACC official said Maryland’s public statements of disagreement with the fee led the league’s presidents to conclude it was in the ACC’s “best interest” to file suit.

(08-08-2014 01:01 PM)stever20 Wrote:  

(08-08-2014 12:41 PM)CardFan1 Wrote:  

(08-08-2014 12:36 PM)CommuterBob Wrote:  David Teel ‏@DavidTeelatDP · 1m
ACC and Maryland announce settlement of court cases. League keeps $31.36M of previously withheld revenue. School owes no more.


Wow. Less than the $52M prescribed by the ACC, but more tan the $25M that was the previous exit fee.

Heck Louisville left the AAC almost that much behind with credits and early penalties.

Louisville left the AAC with 18 million in units valued at todays rates. Probably closer to 22 million or so...

Maryland left the ACC with 1.5 million in units valued at todays rates. Won't go that far up.

So exit fee plus units-
Louisville 33 million
Maryland 33 million

Cool! give it to us to make us whole like the B1G did for the Terps.
Call it "travel money" if you want.

(08-08-2014 01:01 PM)stever20 Wrote:  

(08-08-2014 12:41 PM)CardFan1 Wrote:  

(08-08-2014 12:36 PM)CommuterBob Wrote:  David Teel ‏@DavidTeelatDP · 1m
ACC and Maryland announce settlement of court cases. League keeps $31.36M of previously withheld revenue. School owes no more.


Wow. Less than the $52M prescribed by the ACC, but more tan the $25M that was the previous exit fee.

Heck Louisville left the AAC almost that much behind with credits and early penalties.

Louisville left the AAC with 18 million in units valued at todays rates. Probably closer to 22 million or so...

Maryland left the ACC with 1.5 million in units valued at todays rates. Won't go that far up.

So exit fee plus units-
Louisville 33 million
Maryland 33 million

No one can spin that as a victory for Maryland. That proves only that Louisville's basketball program is far better.

(08-08-2014 12:54 PM)TopperCard Wrote:  

(08-08-2014 12:50 PM)CommuterBob Wrote:  

(08-08-2014 12:41 PM)CardFan1 Wrote:  

(08-08-2014 12:36 PM)CommuterBob Wrote:  David Teel ‏@DavidTeelatDP · 1m
ACC and Maryland announce settlement of court cases. League keeps $31.36M of previously withheld revenue. School owes no more.


Wow. Less than the $52M prescribed by the ACC, but more tan the $25M that was the previous exit fee.

Heck Louisville left the AAC almost that much behind with credits and early penalties.

Even though it's not the full $52M that the ACC wanted, it's more money than any school has had to pay to leave a conference - ever.

Exactly!

Cue the West Virginia spin machine....

I predict there is going to be a whole lot of spinning on this board tonight.
Guess what?
The vast majority of it will not be by West Virginia fans.
LOL.

(08-08-2014 01:00 PM)bseer Wrote:  So $31.36M plus lawyer fees is the price to leave the ACC.

That and a Grant of Rights.

(08-08-2014 12:38 PM)Wedge Wrote:  IOW, pretty much what every reasonable person was saying the settlement was going to look like.

Yep, this had $30 million written all over it from the start.

(08-08-2014 01:06 PM)Wedge Wrote:  

(08-08-2014 01:01 PM)stever20 Wrote:  

(08-08-2014 12:41 PM)CardFan1 Wrote:  

(08-08-2014 12:36 PM)CommuterBob Wrote:  David Teel ‏@DavidTeelatDP · 1m
ACC and Maryland announce settlement of court cases. League keeps $31.36M of previously withheld revenue. School owes no more.


Wow. Less than the $52M prescribed by the ACC, but more tan the $25M that was the previous exit fee.

Heck Louisville left the AAC almost that much behind with credits and early penalties.

Louisville left the AAC with 18 million in units valued at todays rates. Probably closer to 22 million or so...

Maryland left the ACC with 1.5 million in units valued at todays rates. Won't go that far up.

So exit fee plus units-
Louisville 33 million
Maryland 33 million

No one can spin that as a victory for Maryland. That proves only that Louisville's basketball program is far better.

To get out for 20.5 million less than what the exit fee was supposed to be? How is that not a win?

(08-08-2014 01:09 PM)TerryD Wrote:  

(08-08-2014 01:00 PM)bseer Wrote:  So $31.36M plus lawyer fees is the price to leave the ACC.

That and a Grant of Rights.

Which is a whole other can of worms....
This changes nothing in regards to the stability of the ACC IMO.

(08-08-2014 01:09 PM)stever20 Wrote:  

(08-08-2014 01:06 PM)Wedge Wrote:  

(08-08-2014 01:01 PM)stever20 Wrote:  

(08-08-2014 12:41 PM)CardFan1 Wrote:  

(08-08-2014 12:36 PM)CommuterBob Wrote:  David Teel ‏@DavidTeelatDP · 1m
ACC and Maryland announce settlement of court cases. League keeps $31.36M of previously withheld revenue. School owes no more.


Wow. Less than the $52M prescribed by the ACC, but more tan the $25M that was the previous exit fee.

Heck Louisville left the AAC almost that much behind with credits and early penalties.

Louisville left the AAC with 18 million in units valued at todays rates. Probably closer to 22 million or so...

Maryland left the ACC with 1.5 million in units valued at todays rates. Won't go that far up.

So exit fee plus units-
Louisville 33 million
Maryland 33 million

No one can spin that as a victory for Maryland. That proves only that Louisville's basketball program is far better.

To get out for 20.5 million less than what the exit fee was supposed to be? How is that not a win?

Because everyone with any legal background knew from the start that Maryland would not going to pay $52 million.

Maryland's legal position was that they owed either nothing with Louisville replacing them or $20 million at most and that the ACC owed them millions in anti-trust damages.

The ACC's legal position was that Maryland owed it $52 million plus it did not owe anything to Maryland.

All of that was simply legal maneuvering by both sides. The lawyers on both sides knew the score. Maryland's anti-trust case was totally bogus from the start.

This turned out how many observers thought.

In my case evaluation, the ACC came out $4 million ahead, but I am a conservative civil defense lawyer, I think all claims are too high.

The truth is that this case is what it always was going to be, a draw.

All lawyers will tell you that a good settlement is one where neither party got what it wanted and neither party is happy.

This was a good settlement.

(08-08-2014 01:17 PM)domer1978 Wrote:  

(08-08-2014 01:09 PM)TerryD Wrote:  

(08-08-2014 01:00 PM)bseer Wrote:  So $31.36M plus lawyer fees is the price to leave the ACC.

That and a Grant of Rights.

Which is a whole of can of worms....
This changes nothing in regards to the stability of the ACC IMO.

Correct. The two things are unrelated.

(08-08-2014 12:38 PM)Wedge Wrote:  IOW, pretty much what every reasonable person was saying the settlement was going to look like.

And it only took a month longer than expected.

(08-08-2014 12:58 PM)Dasville Wrote:  For all the ACC bashers, how is this "not" a win for the ACC?

Pull up any threads from the last couple months on the subject, the ACC was not going to get anything less than $52 million. No North Carolina court would go against the ACC, it was a slam dunk.

(08-08-2014 12:53 PM)Kaplony Wrote:  Cue the ACC fanboys spinning this as a win despite claiming the $52 million exit fee was iron clad and Maryland would pay in full plus legal fees.

This just in: I agree 100% with Kaplony and dogs & cats have moved in together. Video at 11!

(08-08-2014 01:03 PM)Kaplony Wrote:  

(08-08-2014 12:58 PM)Dasville Wrote:  For all the ACC bashers, how is this "not" a win for the ACC?

http://www.news-record.com/sports/articl...l?mode=jqm

Quote:The league’s Council of Presidents voted unanimously Friday to file suit.

“We continue to extend our best wishes to the University of Maryland; however, there is the expectation that Maryland will fulfill its exit fee obligation,” commissioner John Swofford said in a statement. “On Friday, the ACC Council of Presidents made the unanimous decision to file legal action to ensure the enforcement of this obligation.”

The ACC voted to raise the exit fee to three times its annual operating budget — which totals around $52.3 million this year — when it added Notre Dame as a member in all sports but football in September.

Quote:The ACC has remained adamant that it will enforce the entire $52 million and that the new exit fee is “legally binding.”

An ACC official said Maryland’s public statements of disagreement with the fee led the league’s presidents to conclude it was in the ACC’s “best interest” to file suit.

What did you expect them to say, "We know the exit fee is $52 million but we'll take whatever we can get."

Why would the Acc give up their position of strength by saying something that dumb? I dont think there were many ACC fans who thought the ACC was going to get the full $52 million. I consider it a win for the ACC because they didnt have to pay Maryland one red cent out of their coiffures that they withheld from Maryland. Maryland, on the other hand wanted to get some of that money, which they got NOTHING.

(08-08-2014 12:53 PM)woomba Wrote:  

(08-08-2014 12:50 PM)CommuterBob Wrote:  

(08-08-2014 12:41 PM)CardFan1 Wrote:  

(08-08-2014 12:36 PM)CommuterBob Wrote:  David Teel ‏@DavidTeelatDP · 1m
ACC and Maryland announce settlement of court cases. League keeps $31.36M of previously withheld revenue. School owes no more.


Wow. Less than the $52M prescribed by the ACC, but more tan the $25M that was the previous exit fee.

Heck Louisville left the AAC almost that much behind with credits and early penalties.

Even though it's not the full $52M that the ACC wanted, it's more money than any school has had to pay to leave a conference - ever.

Also not much higher than the old exit fees that Maryland originally supported.

The number's high enough where both sides can claim victory

$11 million is a decent amount higher than the old fee.

(08-08-2014 01:09 PM)stever20 Wrote:  

(08-08-2014 01:06 PM)Wedge Wrote:  

(08-08-2014 01:01 PM)stever20 Wrote:  

(08-08-2014 12:41 PM)CardFan1 Wrote:  

(08-08-2014 12:36 PM)CommuterBob Wrote:  David Teel ‏@DavidTeelatDP · 1m
ACC and Maryland announce settlement of court cases. League keeps $31.36M of previously withheld revenue. School owes no more.


Wow. Less than the $52M prescribed by the ACC, but more tan the $25M that was the previous exit fee.

Heck Louisville left the AAC almost that much behind with credits and early penalties.

Louisville left the AAC with 18 million in units valued at todays rates. Probably closer to 22 million or so...

Maryland left the ACC with 1.5 million in units valued at todays rates. Won't go that far up.

So exit fee plus units-
Louisville 33 million
Maryland 33 million

No one can spin that as a victory for Maryland. That proves only that Louisville's basketball program is far better.

To get out for 20.5 million less than what the exit fee was supposed to be? How is that not a win?

That's a different argument.

The Louisville-Maryland comparison doesn't hold water. I doubt any Maryland people will go around saying, "Our basketball team wasn't good enough to leave many NCAA credits in the ACC, therefore victory is ours!" As a fan, I want my teams to win a helluva lot more than I want them to make a few extra bucks (which I don't get), and I'm pretty sure Maryland fans will feel the same way.

(08-08-2014 01:24 PM)cuseroc Wrote:  

(08-08-2014 01:03 PM)Kaplony Wrote:  

(08-08-2014 12:58 PM)Dasville Wrote:  For all the ACC bashers, how is this "not" a win for the ACC?

http://www.news-record.com/sports/articl...l?mode=jqm

Quote:The league’s Council of Presidents voted unanimously Friday to file suit.

“We continue to extend our best wishes to the University of Maryland; however, there is the expectation that Maryland will fulfill its exit fee obligation,” commissioner John Swofford said in a statement. “On Friday, the ACC Council of Presidents made the unanimous decision to file legal action to ensure the enforcement of this obligation.”

The ACC voted to raise the exit fee to three times its annual operating budget — which totals around $52.3 million this year — when it added Notre Dame as a member in all sports but football in September.

Quote:The ACC has remained adamant that it will enforce the entire $52 million and that the new exit fee is “legally binding.”

An ACC official said Maryland’s public statements of disagreement with the fee led the league’s presidents to conclude it was in the ACC’s “best interest” to file suit.

What did you expect them to say, "We know the exit fee is $52 million but we'll take whatever we can get."

Why would the Acc give up their position of strength by saying something that dumb? I dont think there were many ACC fans who thought the ACC was going to get the full $52 million. I consider it a win for the ACC because they didnt have to pay Maryland one red cent out of their coiffures that they withheld from Maryland. Maryland, on the other hand wanted to get some of that money, which they got NOTHING.

Did you not see some of the folks on this site? They were steadfast that it was going to be nothing lower than 52 million.