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110%er [7971]
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ACC and Maryland reach agreement
Aug 8, 2014, 1:45 PM
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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.
http://www.theacc.com/#!/news-detail/agreement_08-08-14_lryjmo
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Ultimate Clemson Legend [99913]
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So the balance of $21MM won't be paid? Wow.***
Aug 8, 2014, 1:48 PM
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Ultimate Tiger [36452]
TigerPulse: 100%
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Re: So the balance of $21MM won't be paid? Wow.***
Aug 8, 2014, 1:51 PM
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That's only one years worth of big 10 network cash. I think they should pay up, Twerps!
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Orange Blooded [2459]
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Guess the exit fee isn't going to be enforced***
Aug 8, 2014, 1:51 PM
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Paw Warrior [4987]
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Re: Guess the exit fee isn't going to be enforced***
Aug 8, 2014, 2:05 PM
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No need to after the grant of right deal.
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Gridiron Giant [16034]
TigerPulse: 100%
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Joined: 1999
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That's fine. The Exit Fee was on shaky ground with respect
Aug 8, 2014, 2:07 PM
[ in reply to Guess the exit fee isn't going to be enforced*** ] |
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to Maryland given that they did not vote for it and apparently we did not adhere to our bylaws in terms of notice, etc. A settlement was inevitable.
In the mean time, the Exit Fee can either be re-established through the proper process...giving it more teeth...or it can be tossed aside and let the Grant of Rights preside over the situation.
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Ring of Honor [21884]
TigerPulse: 100%
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Joined: 2012
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FIRE SWOFFIE!!!***
Aug 8, 2014, 2:01 PM
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Orange Immortal [60128]
TigerPulse: 100%
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Re: FIRE SWOFFIE!!!***
Aug 9, 2014, 8:41 AM
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Now firing Swoffie would take care of the biggest problem in the ACC instantly!!!
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Hall of Famer [22966]
TigerPulse: 100%
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Joined: 1999
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that money should be split amongst the schools who werre
Aug 8, 2014, 2:06 PM
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members at the time Md announced they were departing.
And I still don't understand why the B1G wanted the terps in the first place.
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Gridiron Giant [16034]
TigerPulse: 100%
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Posts: 17550
Joined: 1999
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They didn't want the Terps. They wanted the millions of
Aug 8, 2014, 2:08 PM
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cable subscribers in that area. The Terps were a means to an end.
Once again, it was all about money.
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Mascot [24]
TigerPulse: 100%
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Re: They didn't want the Terps. They wanted the millions of
Aug 8, 2014, 2:25 PM
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The market was probably the biggest reason, but it's more than just that. Adding Maryland and New Jersey adds valuable recruiting territory. The additions solidified Penn State's presence and satisfaction in the league. And it allowed them to move to sensible geographic divisions and drop the protected crossovers. People criticize it now, but it was a savvy move.
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CU Guru [1218]
TigerPulse: 89%
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Re: They didn't want the Terps. They wanted the millions of
Aug 8, 2014, 2:33 PM
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Animal Mother nailed it.
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Gridiron Giant [16034]
TigerPulse: 100%
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Joined: 1999
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Yes, definitely some good points. I think you are wrong
Aug 8, 2014, 3:16 PM
[ in reply to Re: They didn't want the Terps. They wanted the millions of ] |
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on the recruiting territory. New Jersey and Maryland are not tremendous recruiting areas and Penn State is the big program for most New Jersey people already. They didn't care about recruiting New Jersey. They cared about appealing to the New York City Cable Providers.
But I do think you are right about solidifying Penn State with regional "Rivals." They could have rearranged the divisions around geography any time (as we should).
And I don't criticize the "savvy" nature of the move. I just don't think people should see any higher meaning than maximized revenue.
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Mascot [24]
TigerPulse: 100%
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Re: Yes, definitely some good points. I think you are wrong
Aug 8, 2014, 3:57 PM
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New Jersey is 6th among states in NFL players as of last year. Maryland is a pretty solid 18th, but consider that much of the Tidewater region is going to fall in the DC/Baltimore media market. There's A LOT of great players from that region. No one is going to "own" the region but this gives the Big Ten greater exposure there, for sure.
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Gridiron Giant [16034]
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Joined: 1999
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CU Guru [1925]
TigerPulse: 100%
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Re: Wow. Member since 11/30/98 with 24 posts!
Aug 8, 2014, 3:22 PM
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He doesn't always reply to a post, but when he does...
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Orange Phenom [14935]
TigerPulse: 100%
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Joined: 2006
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Maryland agrees to continue sucking in all sports
Aug 8, 2014, 2:07 PM
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for the foreseeable future.
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Ring of Honor [23963]
TigerPulse: 100%
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Joined: 1998
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Gimme my $31 Million, now get outta here! Getting paid to
Aug 8, 2014, 2:24 PM
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get rid of Maryland is sweet no matter how you slice it!
Good job!
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Commissioner [1224]
TigerPulse: 96%
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ACC Candied out All involved need to go!!!***
Aug 8, 2014, 2:30 PM
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CU Guru [1071]
TigerPulse: 94%
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Getting .60 on the 1.00 is normally a pretty recovery
Aug 8, 2014, 2:58 PM
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in any breach of contract action. When you consider that $31M is more than any exit fee Maryland ever agreed to and the shaky maneuvering that increased it to $50M over their objections, I'd say this is a very good deal for the ACC. No, wait, $31M minus Maryland plus Louisville is a great deal for the ACC!
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Orange Blooded [4506]
TigerPulse: 100%
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All good points. The ACC was never going to collect the
Aug 8, 2014, 3:38 PM
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full amount. Glad to see them go.
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Freshman [6]
TigerPulse: 23%
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How much is the SEC exit fee?***
Aug 8, 2014, 5:54 PM
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1st Rounder [639]
TigerPulse: 87%
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Re: How much is the SEC exit fee?***
Aug 8, 2014, 5:56 PM
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They are the only conference that does not have one.
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Paw Master [16315]
TigerPulse: 100%
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Re: Getting .60 on the 1.00 is normally a pretty recovery
Aug 8, 2014, 6:49 PM
[ in reply to Getting .60 on the 1.00 is normally a pretty recovery ] |
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The ACC got 2/3s of what was owed and the ordeal is now over. Maryland paid more than anyone in the history of college sports ever paid to leave a league. The ACC is vindicated in the stance that Md violated the contract and owed a fee. I am happy to see the Terps go.
Md left on Nov 19, 2012. Louisville was added a week later. Louisville has a better sports program so this goes down as a win win for the ACC.
No idea why the Big 10 took the Terps. Big 10 TV is already carried in the Washington/Baltimore market and the terps bring very few fans. Last year Md averaged 41K fans per home football game which ranks them above only Northwestern in the Big Ten.
I expect Terp attendance to continue to suck and for this big ten deal to make about as much sense as the Big 12 taking WVU.
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Ultimate Clemson Legend [98664]
TigerPulse: 100%
64
Posts: 97924
Joined: 2009
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Yeah, "GET OUT AND STAY OUT!"***
Aug 8, 2014, 8:36 PM
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