Here we go ... ACC vs Maryland ... $$$$$$$$

[NYGiants25]

GREENSBORO, N.C. -- The Atlantic Coast Conference has filed a lawsuit against Maryland seeking full payment of the approximately $53 million exit fee for its move to the Big Ten.
According to the 10-page lawsuit, the ACC said the school must pay $52,266,342, which is three times the league's annual operating budget for the 2012-13 season.
The Associated Press obtained a copy of the lawsuit filed Monday in Guilford County Superior Court.


In a statement, Commissioner John Swofford says the ACC's council of presidents unanimously decided "to file legal action to ensure enforcement of this obligation."
"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," Swofford said.


The league raised its exit fee to roughly $50 million in September after adding Notre Dame in all sports except football. The exit fee is three times the league's annual operating budget so it could fluctuate from year to year.
Maryland was one of two schools that voted against the increased exit fee. Florida State also voted against the increase.
Brian Ullmann, Maryland's assistant vice president for marketing and communications, didn't immediately return a call for comment Tuesday afternoon.
The ACC twice increased its exit fee in the span of a year. The fee was around $12 million to $14 million before the league announced in September 2011 it would add Pittsburgh and Syracuse from the Big East, which led the league to up the fee to $20 million.
But Maryland President Wallace D. Loh told The Washington Post he voted against the increase connected to the Notre Dame move because he thought the higher fee was "illegal and philosophically not a good idea." He also called it an "exit penalty."
Maryland is scheduled to begin Big Ten play in 2014.
by The Associated Press

 

[dilaudid8]

NYG gl this week

 

[dilaudid8]

NYG gl my brother gl today

 

[dilaudid8]

NYG gl this last week my bro

 

[E.T.G.]

Maryland never voted for the $50 mill buyout. FSU and Maryland are the only 2 schools to vote against it.

There is 0% chance they pay $50million.

 

[Carolina Guy]

Has anyone been reading the crazy mess the WVa guys are blogging? I call BS. Why are some random WVa bloggers privvy to all this hot intel?' Does not make sense. Don't buy it for a second. Just wondering if y'all have seen it too?

ETG, UMd is gonna be responsible for every penny of the 50M. Does not matter if they voted on it or not. They are part of an organization that passed the rule. Air tight. Only the ACC can renig on the agreement.

 

[E.T.G.]

ETG, UMd is gonna be responsible for every penny of the 50M. Does not matter if they voted on it or not. They are part of an organization that passed the rule. Air tight. Only the ACC can renig on the agreement.

They won't even pay half the amount.

 

[~Utah]

whats your logic etg. Seems irrelevant they didnt vote for it.

 

[E.T.G.]

The ACC tried to enforce a huge penalty to leaving the conference on Maryland, something they did not vote for. If it would have been $1billion and voted yes by everyone except Maryland and FSU, they still would have to pay it?

No, it is unreasonable. The buyout was $20 million, the ACC upped it to $50 million and Maryland is not going to pay that. The ACC can enforce a compensatory buyout (20mill) but not a punitive one (50mill). How does the ACC even claim financial damages when it added Louisville in Maryland's place last week. No chance this holds up.

 

[tru]

dilaudid8 made this topic

 

[Schrute]

hahaaaghahahaghahahaha

 

[~Utah]

It won't reach the courts imo, they might not pay 50, but theyll pay more then that 20

 

[RetroVK]

They won't pay close to the $50 mil which is a shame.

 

[E.T.G.]

They won't pay close to the $50 mil which is a shame.

Why is that a shame?

They didn't vote for an outrageous $50 mil buyout. It was forced on them by the suits in North Carolina that run the conference.

They went out and found a better conference that will pay them more money and help stabilize their Athletic Department.

 

[RetroVK]

pay the $20 million and leave right then or abide by the rules of the conference.

 

[xyzky]

Oh dear, they didn't agree, simple as that. Doubt they pay anything at all.

 

[E.T.G.]

pay the $20 million and leave right then or abide by the rules of the conference.

So you want them to just pick up and leave with no home?

Sounds reasonable. Might as well cancel all sports.

 

[RetroVK]

Go independent and find opponents .. you can't have all the good and not the bad .. you either abide by the rules of the conference or you bail and pay the penalty ... you shouldn't get all the benefits of the conference and then just be able to leave and ruin the conference ( Bigeast might not even exist in a few years ) at your whim and under your terms.

 

[twinkie13]

Go independent and find opponents .. you can't have all the good and not the bad .. you either abide by the rules of the conference or you bail and pay the penalty ... you shouldn't get all the benefits of the conference and then just be able to leave and ruin the conference ( Bigeast might not even exist in a few years ) at your whim and under your terms.

LOL....are u serious?

you been smokin rock today VK?

 

[RetroVK]

Look ... the conferences are important too ... teams bailing on conferences means that conferences are dissolving.. they need protection from this type of stuff. They then make a penalty for leaving. That penalty is voted on by the conference programs. If you don't like that they raised it than leave for the lesser amount. It's a choice. You guys seem to want the programs to just be able to do whatever they want and disregard whatever they want.

 

[E.T.G.]

No. If this was Clemson and they left the ACC I would have no issues with the ACC trying to recover 50million for the buyout. Why? Because Clemson voted for the $50 million buyout.

Maryland did not and the ACC therefore does not deserve $50million from the Maryland Athletic Department.

 

[spanishshark]

GL last week my brother you too

 

[twinkie13]

Look ... the conferences are important too ... teams bailing on conferences means that conferences are dissolving.. they need protection from this type of stuff. They then make a penalty for leaving. That penalty is voted on by the conference programs. If you don't like that they raised it than leave for the lesser amount. It's a choice. You guys seem to want the programs to just be able to do whatever they want and disregard whatever they want.

Itll never hold up. To suggest go independent is ludicrous. The conference was in trouble, so they try and impose a ridiculous dollar amount? Look at the other side

 

[RetroVK]

You can leave when you disagree with it .. not play the season and then say oh ya ... all those meetings and decisions we made at the start of the year only apply to to those who voted for it.

So you guys must think any rich person who didnt vote for obama is not obligated to pay the tax increases he is going to impose on them right??? I mean they didn't vote for it.......

 

[Lloyd Braun]

Maryland was part of the ACC the ACC agreed to raise the exit penalty to 50 million, Maryland remained a part of the ACC understanding the exit penalty was 50 million. Maryland has now decided to exit ACC, Maryland must pay 50 million. It's pretty black and white.

 

[twinkie13]

You can leave when you disagree with it .. not play the season and then say oh ya ... all those meetings and decisions we made at the start of the year only apply to to those who voted for it.

So you guys must think any rich person who didnt vote for obama is not obligated to pay the tax increases he is going to impose on them right??? I mean they didn't vote for it.......

Comparing the ACC and the USA federal government

we call that a hail mary

 

[RetroVK]

Hah .. if so ... I made a bad play call .. probably shouldn't be throwing the hail mary up 31......

 

[HUNT]

Vk bringing politics in. Fitting lol. Vk shake.

 

[twinkie13]

nice analogy, but I just dont think it works

so....do you think they will pay any money yes or no?

 

[twinkie13]

I mean if they disagreed what were they to do the season? seriously.

 

[RetroVK]

Will likely negotiate something inbetween ..... have to pay the $20 million regardless I would think. Rather than litigate they may just come to terms for some level inbetween but that sets a bad precedent for the conference.

I would think that the conference would win in court if it went that far.

 

[RetroVK]

I mean if they disagreed what were they to do the season? seriously.

so just vote "no" on every penalty and you never have to pay?

 

[twinkie13]

Will likely negotiate something inbetween ..... have to pay the $20 million regardless I would think. Rather than litigate they may just come to terms for some level inbetween but that sets a bad precedent for the conference.

I would think that the conference would win in court if it went that far.

The conference is going in the wrong direction anyway no?

 

[twinkie13]

so just vote "no" on every penalty and you never have to pay?

Im asking you what were they gonna do

 

[HUNT]

Conferences would win imo. Too much power.

 

[twinkie13]

What are the B10 and SEC exit fees? anyone?

 

[E.T.G.]

I dont even think the SEC has a buyout because no one is stupid enough to leave

 

[RetroVK]

And they can be easily replaced if they do.

Why couldnt they leave the conference and still play the schedule?

 

[twinkie13]

I dont even think the SEC has a buyout because no one is stupid enough to leave

kinda my point

So the ACC can just impose some astronomical figure to hold people in a prison?

 

[twinkie13]

And they can be easily replaced if they do.

Why couldnt they leave the conference and still play the schedule?

Could they and still get paid? Or could they period?

I dont know the answer

 

[Carolina Guy]

No. If this was Clemson and they left the ACC I would have no issues with the ACC trying to recover 50million for the buyout. Why? Because Clemson voted for the $50 million buyout.

Maryland did not and the ACC therefore does not deserve $50million from the Maryland Athletic Department.

then they should have left prior to the vote. It's not like they and the B1G hadn't already been talking and knew they were leaving. Otherwise, they would have voted "yes" to the 50 M.

 

[Carolina Guy]

Itll never hold up. To suggest go independent is ludicrous. The conference was in trouble, so they try and impose a ridiculous dollar amount? Look at the other side

The conference is not in trouble. That's why they raised the amount to $50M. You want to leave a stable and viable conference that will be around come Super Conference time? You are gonna pay out your ass. Like I said, Maryland and the B1G obviously had already been talking. You pay the $20M and do not vote. Lay in the weeds for a few weeks and wait for the B1G to make it official. Sorry, Maryland chose the other route. Pay, bitches!!

The ACC will be Ok. It is the Big XII who should worry bc it is the ONLY viable option for the PAC Ten to take from.

 

[NOLA]

Maryland was part of the ACC the ACC agreed to raise the exit penalty to 50 million, Maryland remained a part of the ACC understanding the exit penalty was 50 million. Maryland has now decided to exit ACC, Maryland must pay 50 million. It's pretty black and white.

:thumbsup: Make them bitches pay.

 

[E.T.G.]

Stable basketball conference.

 

[E.T.G.]

.

From Tiger Illustrated.....

Been conversing with a source who has a good grasp of the situation at GT, and this source is hearing the same rumblings we've been hearing about GT going to the Big 10.

The source painted it as "almost done unless the ACC can come up with a last-minute package." The source also said GT is in a precarious financial situation similar to Maryland. They need instant money, and the Big 10 covets the ATL market.

We're not saying GT is gone to the Big 10 because we don't know that for sure. But felt comfortable enough with this info to pass it on.

 

[Carolina Guy]

I heard the same thing from a FSU booster today. May have read what you just reported from Clemson site. It doesn't make sense to me unless they are lying about it. The Paul Finebaum of the ACC of which actually cares about sports instead of what people like us are thinking, David Glenn, says he was talking to people in the know all weekend at GT and they kept saying to a man they weren't going anywhere. We'll see, though ...

 

[twinkie13]

Stable basketball conference.

I agree.

And CG, I actually think UNC can be pretty good in CFB....just need the right guy

 

[Carolina Guy]

I agree.

And CG, I actually think UNC can be pretty good in CFB....just need the right guy

They've got their mythical guy right now in Larry 'The Hat' Fedora. Going down to Colombia in late Aug/early Sept '13 and doing damage.

 

[Carolina Guy]

I'm also hearing Butch Davis is a done deal other than the fine print at Tennessee.

 

[twinkie13]

u serious? no way huh