Perhaps it doesn't?

It doesn't affect the lawsuit.

(04-22-2013 04:46 PM)SeaBlue Wrote:  Perhaps it doesn't?

Totally irrelevant to the legal aspects of the case. However with this added security the ACC will settle this suit shortly after the GOR is officially signed. The ACC will no longer need to worry about the precedent of their exit fee with a GOR.

(04-22-2013 05:45 PM)indydoug Wrote:  

(04-22-2013 04:46 PM)SeaBlue Wrote:  Perhaps it doesn't?

Totally irrelevant to the legal aspects of the case. However with this added security the ACC will settle this suit shortly after the GOR is officially signed. The ACC will no longer need to worry about the precedent of their exit fee with a GOR.

Exit fees multiplied by a factor is not a precedent, collecting the entire amount would be. I wonder if Maryland has to pay the full amount, if they decide they don't want to and wants to remain in the conference, would the ACC allow it? Now that would be a precedent!!!
Or would it?

(04-22-2013 04:46 PM)SeaBlue Wrote:  Perhaps it doesn't?

Actually, it has a huge affect. An exit fee is liquidated damages. So to enforce the 50 million dollar exit fee, you have to prove that 50 million is a reasonable estimate of the damage caused to the ACC by Maryland leaving.

The value of the ACC per team with Maryland--15 million

The value of the ACC per team with Louisville in 2014---20 million.

Now, please explain the damages that replacing Maryland with Lousiville caused. This is going to get settled for 20 million MAX. Might even be less now. I could see Maryland making a good case for the exit fee being zero.

Maryland is ponying up $52M, give or take $2-$4M

(04-22-2013 06:08 PM)ecuacc4ever Wrote:  Maryland is ponying up $52M, give or take $2-$4M

I'll bet you believe Social Security is solvent too.

Exit fees are largely about damages caused by your departure. The courts don't care for strict amounts set in beforehand (a grant of rights works differently).

The one argument this effects is the ACC argument that a high exit fee was necessary or every member of the conference had less security. With the grant of rights, that argument look hallow instead of valid and thus it would seem to effect the fee to an extent.

The only thing the GOR affects now is we will likely see a settlement sooner rather than later. I still think Maryland is going to pay north of 30 mil. They signed a contract and broken contracts have penalties attached. Their argument for it reducing conference movement is a joke. Leaving a conference could potentially kill it so measures have to be put in place. In this case, the ACC was able to effectively ward off death but they can't go on a case by case basis. They can't say well Maryland you're only worth 10 mil for leaving but UNC and FSU you're about 100 mil. Everyone has to be treated the same.

Maryland will end up paying the full load.

(04-22-2013 04:46 PM)SeaBlue Wrote:  Perhaps it doesn't?

Each side will now have to pick one person to represent their interest. Those two individuals will then have a bare knuckle boxing match on a raft in the north Atlantic during a storm. The side who picked the winner will win the case.

Without the GoR, the could have settled this with a coin toss. It's such a pitty......

(04-22-2013 06:14 PM)Attackcoog Wrote:  

(04-22-2013 06:08 PM)ecuacc4ever Wrote:  Maryland is ponying up $52M, give or take $2-$4M

I'll bet you believe Social Security is solvent too.

Bad example man, because it actually is fully solvent right now and for quite some time to come.

(04-22-2013 09:09 PM)brista21 Wrote:  

(04-22-2013 06:14 PM)Attackcoog Wrote:  

(04-22-2013 06:08 PM)ecuacc4ever Wrote:  Maryland is ponying up $52M, give or take $2-$4M

I'll bet you believe Social Security is solvent too.

Bad example man, because it actually is fully solvent right now and for quite some time to come.

We borrow .40 cents out of every dollar the US government spends. So by definition, no government program is currently solvent. Accounting wise, Social Security is only solvent if you count US Savings bonds that are held by the SS "trust fund". The dirty little secret is that the money in that account was spent long ago and is part of what we refer to as the national debt. All that exists in the SS "trust fund" is an IOU from Uncle Sam.

The gor squashes all speculation so no one cares. B10 ponied up 'travel' expenses for md to cover anyway.

(04-23-2013 01:47 AM)Attackcoog Wrote:  

(04-22-2013 09:09 PM)brista21 Wrote:  

(04-22-2013 06:14 PM)Attackcoog Wrote:  

(04-22-2013 06:08 PM)ecuacc4ever Wrote:  Maryland is ponying up $52M, give or take $2-$4M

I'll bet you believe Social Security is solvent too.

Bad example man, because it actually is fully solvent right now and for quite some time to come.

We borrow .40 cents out of every dollar the US government spends. So by definition, no government program is currently solvent. Accounting wise, Social Security is only solvent if you count US Savings bonds that are held by the SS "trust fund". The dirty little secret is that the money in that account was spent long ago and is part of what we refer to as the national debt. All that exists in the SS "trust fund" is an IOU from Uncle Sam.

Chill out, dude. An IOU from Uncle Sam is the safest promise in the world.

Would you really rather take an IOU from France? Italy? Japan? China has a long history of sovereign defaults, and all their money is held in dollars anyways. Germany is a horrible long-term bet because their population is disappearing at an astonishing rate (1/3 of all Germans under 5 are actually Turks, and the country is still shrinking by 5% a decade despite tremendous immigration). You could make a good argument for Canada, but their economy is so dependent on the US that it's a tough call.

Unless you'd rather take an IOU from a private company? Not even close to as safe, because they can't fall back on the power to tax the population.

GOR doesn't affect Maryland one iota. They announced they were leaving before it was voted on, so it doesn't apply to them.

(04-23-2013 05:47 AM)Captain Bearcat Wrote:  GOR doesn't affect Maryland one iota. They announced they were leaving before it was voted on, so it doesn't apply to them.

The ACC might be more willing to settle now.

(04-23-2013 05:45 AM)Captain Bearcat Wrote:  

(04-23-2013 01:47 AM)Attackcoog Wrote:  

(04-22-2013 09:09 PM)brista21 Wrote:  

(04-22-2013 06:14 PM)Attackcoog Wrote:  

(04-22-2013 06:08 PM)ecuacc4ever Wrote:  Maryland is ponying up $52M, give or take $2-$4M

Chill out, dude. An IOU from Uncle Sam is the safest promise in the world.

Would you really rather take an IOU from France? Italy? Japan? China has a long history of sovereign defaults, and all their money is held in dollars anyways. Germany is a horrible long-term bet because their population is disappearing at an astonishing rate (1/3 of all Germans under 5 are actually Turks, and the country is still shrinking by 5% a decade despite tremendous immigration). You could make a good argument for Canada, but their economy is so dependent on the US that it's a tough call.

Unless you'd rather take an IOU from a private company? Not even close to as safe, because they can't fall back on the power to tax the population.

Ok so our train will be the last one over the cliff. 6 years ago I may have agreed with you. but the debt to gdp ratio is off the charts now. As for taxes there isn't enough out there to tax us out of this mess, thus we print $$$ instead.

(04-23-2013 06:21 AM)DeacKillsaDevil Wrote:  

(04-23-2013 05:47 AM)Captain Bearcat Wrote:  GOR doesn't affect Maryland one iota. They announced they were leaving before it was voted on, so it doesn't apply to them.

The ACC might be more willing to settle now.

Doubtful.
Unfortunately for Maryland, they will be the "lesson" .

I have been guessing the settlement at $25-27 million for months now, so I will stick by that estimate.