Exit Fees?

[Touchdown]

How in the hell is Mizzery gonna pony up the $$$$$$$$ ? Float bonds?

 

[XOVER]

There's some really screwy language in the B12 contract with respect to exit fees.

Arguably you owe $0.

To get out without a lawsuit, it'll cost about $12M, no more.

 

[Hook 'Em Danno]

^^^^^ We heard something similar out of Aggy. Anyone have a link to a copy of the agreement?

 

[XOVER]

This SEC guy claims to quote and analyze parts of the contract, and cites Perlman from Nebraska:

In reply to:

---

---

 

[HornSwoggler]

Here is the Big 12 link to the

B12 Handbook


Bylaws containing exit fee formulae: [url=http://www.big12sports.com/fls/10410/pdfs/handbook/Bylaws.pdf?DB_OEM_ID=10410]Bylaws pages 13 & 14

 

[Touchdown]

Funny but I thought DeLoss had control of everything. Did he slip up on iron clad buyots?

 

[OrangeHair]

The rules are pretty clear although I am not a lawyer. The difference with Nebraska and Colorado is they gave 1-2 years notice and they claimed the conference was unstable and they were forced to act based on self defense. Plus there was a feeling (stupid Beebe) that it was better to close the book and "unite the conference", so he just settled. Aggy, on the other hand, is hardly giving 9 months notice and they are the reason for the instability. Nienas has business acumen so its my belief he will go to court to get every penny (minus legal costs) for the good of the remainder of the conference. I have no doubt Aggy will ultimately make more tier 1&2 money in the sec but I want the breakeven time to be a long time, likely 10 years. They need to offset, at least partially, that we will be adding a team who partially drains revenue, e.g. BYU, TCU, Louisville.