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FSU penalty for leaving ACC early is $572 million
Posted on 12/22/23 at 11:18 am
Posted on 12/22/23 at 11:18 am
quote:
An outside attorney, David Ashburn, is going through financial figures now. He said the penalty to leave the ACC is $572 million
Ouch
16
Posted on 12/22/23 at 11:20 am to CarolinaGamecock99
highly doubt that
their penalty aint gonna be the revenue for the entire conference
quote:
the league reported a record $578.3 million in total revenue for the 2020-21 season
their penalty aint gonna be the revenue for the entire conference
Posted on 12/22/23 at 11:21 am to CarolinaGamecock99
Insane. What are they up to and where do they wanna go so badly?
Posted on 12/22/23 at 11:26 am to Sooner1984
quote:B1G
Insane. What are they up to and where do they wanna go so badly?
Posted on 12/22/23 at 11:28 am to CarolinaGamecock99
Shame the Big 12 didn't have a similar agreement.
Posted on 12/22/23 at 11:29 am to BhamTigah
maybe FSU can ask jimbo for a loan?
Posted on 12/22/23 at 11:41 am to charliethehun
If that much I doubt they go anywhere....
Posted on 12/22/23 at 11:44 am to charliethehun
They're unconcerned, surely they can come up with that money.
Posted on 12/22/23 at 11:46 am to CarolinaGamecock99
Damn, 8 Jimbos. A couple Jimbos is doable. But 8?
Posted on 12/22/23 at 11:51 am to geauxnavybeatbama
quote:
highly doubt that
It's what is being reported (ESPN)
quote:
The grant of rights gives the conference control over its media rights -- including television revenue and home game broadcasts in all sports. In addition, any school that wants to leave the ACC would have to pay an exit fee of three times the league's operating budget, or roughly $130 million.
All told, the university estimates the total exit fee, including the forfeiture of television revenue, would be $572 million.
Posted on 12/22/23 at 12:01 pm to geauxnavybeatbama
quote:
highly doubt that
quote:
the league reported a record $578.3 million in total revenue for the 2020-21 season
their penalty aint gonna be the revenue for the entire conference
The ACC owns Florida State's media rights through 2035 unless that grant of rights is invalidated. So if FSU just decides to leave today, they not only pay a large exit fee, they gift the ACC all of its media revenues for another dozen years. $572 million sounds about right.
Posted on 12/22/23 at 12:06 pm to CarolinaGamecock99
I hate FSU more than anyone, but I’m trying to figure out what their legal argument is going to be. Breach of fiduciary duty perhaps? Could argue that the ACC didn’t make the best deal in hindsight… but that’s weak.
It’ll be interesting to see how it plays out. I will be laughing because it’s FSU that has to squirm. Anyone else with the exception of Georgia, I would feel bad for.
It’ll be interesting to see how it plays out. I will be laughing because it’s FSU that has to squirm. Anyone else with the exception of Georgia, I would feel bad for.
Posted on 12/22/23 at 12:08 pm to CarolinaGamecock99
quote:
An outside attorney, David Ashburn, is going through financial figures now. He said the penalty to leave the ACC is $572 million
Oof, well, goodluck.
Posted on 12/22/23 at 12:09 pm to ForeverGator
I saw somewhere that they want to attack some clause in the contract where espn has the right to walk away from the contract no penalty in 2027(this is completely unfounded rumor stuff but it was first I heard of it)
Posted on 12/22/23 at 1:52 pm to CarolinaGamecock99
Golden handcuffs.
Posted on 12/22/23 at 1:56 pm to BuckI
quote:
B1G
Why? FSU fans are not traveling to big10ish country in the fall. It’s SEC or bust.
Posted on 12/22/23 at 2:07 pm to Lonnie Utah
ACC should probably find a reasonable number and let them go. FSU and Clemson would find a way to partner with the Big Ten, bribe the other mid-level schools and vote the ACC into oblivion.
Posted on 12/22/23 at 2:11 pm to CarolinaGamecock99
FSU losing its shite and going to the mattress for a team that struggled to beat a bad Florida team and an overrated Louisville with absolutely zero hope of getting out of the first round of the playoffs if they were selected is peak Florida man.
Posted on 12/22/23 at 2:43 pm to ForeverGator
quote:
Breach of fiduciary duty perhaps? Could argue that the ACC didn’t make the best deal in hindsight… but that’s weak.
Indeed it's weak, essentially saying "Party X isn't very good at their job" won't get you anywhere.
Posted on 12/22/23 at 2:56 pm to LouisvilleKat
quote:
FSU losing its shite and going to the mattress for a team that struggled to beat a bad Florida team and an overrated Louisville with absolutely zero hope of getting out of the first round of the playoffs if they were selected is peak Florida man.
FSU started this process a year ago and had a BOT meeting before the season even started stating their desire to leave the ACC so your state is dumb. Also, “struggled to beat [insert team]” is the dumbest argument in sports. Name a team in the CFP this year that didn’t struggle in any games this season? I’ll hang up and listen
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