All articles tagged with #grant of rights
The Big Ten is considering a $2 billion private equity deal and a grant of rights extension until 2046, but faces potential opposition from Michigan and Ohio State, which could impact the deal's approval and the future structure of college sports leagues.
The Big Ten is exploring a $2 billion private capital deal and a 10-year extension of its grant of rights to secure long-term stability and revenue growth, involving the creation of a new commercial entity called Big Ten Enterprises, with the aim of better leveraging its revenue streams and supporting member schools financially.
A Florida judge denied the ACC's motion to stay Florida State's lawsuit against the conference, as dueling lawsuits between the two sides continue to move forward. The decision comes after a judge in North Carolina ruled the ACC's lawsuit against Florida State can proceed. Florida State filed an appeal on that ruling in North Carolina. The hearing in Florida is scheduled to continue, and if the ACC's motion to dismiss is denied, both lawsuits will continue to move forward on parallel tracks in two separate states.
A North Carolina judge denied Florida State's motions to dismiss or stay a lawsuit filed by the ACC, which seeks to enforce the school's grant of rights agreement and require it to pay over $500 million if it leaves for another conference before 2036. The ruling is a significant win for the ACC, as it means the legal battle will likely proceed in North Carolina rather than Florida, where FSU filed its own lawsuit against the conference. Florida State could still appeal the ruling, potentially leading to arguments before the North Carolina Supreme Court.
The ACC has countersued Clemson, arguing that the school is bound by the grant of rights and withdrawal penalty it agreed to as an ACC member, while also seeking monetary damages. This comes after Clemson sued the ACC, challenging the grant of rights and withdrawal penalty, joining Florida State in potentially leaving the league. The ACC is seeking a declaratory judgment on the grant of rights and withdrawal penalty, as well as damages for Clemson's breach of the grant of rights and duty of good faith and fair dealing.
Clemson has filed a lawsuit against the ACC in an attempt to escape hefty exit fees and a grant of rights that runs until 2036, following a similar move by Florida State. The lawsuit challenges the veracity of the grant of rights, arguing that it unfairly restricts Clemson's ability to maximize its brand value. The legal maneuver could have significant implications for college sports realignment, but the outcome is likely to be drawn out as jurisdiction and potential appeals are yet to be determined.
Clemson has filed a lawsuit against the ACC over its grant of rights and withdrawal fees, becoming the second ACC program to do so after Florida State. The school argues that the ACC is preventing it from pursuing strategic alternatives necessary for its continued success in collegiate athletics and as an institution. Clemson also highlights the vast difference between the ACC's withdrawal fee and those of other Power Five conferences. The ACC remains confident that its agreements with all its members will be affirmed by the courts, while Florida State's lawsuit against the conference is ongoing.
Clemson has filed a lawsuit against the ACC, arguing that the conference's grant of rights agreement should only apply while a member is in the conference and that the league's withdrawal fee should not be enforceable. This legal action follows a similar filing by Florida State in December. The ACC's grant of rights agreement runs until 2036, deterring speculation about the conference's biggest brands being attainable in future realignment. The lawsuit also questions the enforceability and fairness of the ACC's withdrawal fee, which has been amended since Maryland's departure for the Big Ten. This legal dispute comes at a time of heated competition in college sports, with revenue gaps and power dynamics shifting among conferences.
The ACC has amended its complaint against Florida State, seeking damages for FSU challenging the Grant of Rights agreement, adding six complaints including breach of contractual obligations and fiduciary obligations. The legal battle continues to escalate as Florida State's athletics department went into debt despite increased revenue, and the fight involves hundreds of millions of dollars for both the school and the conference.
Florida State University has called a special board of trustees meeting to discuss its long-term athletics future, following the Seminoles' exclusion from the College Football Playoff despite being the first undefeated Power 5 champion left out. The university has expressed dissatisfaction with the ACC for various reasons, including a revenue gap with other conferences and its place in the collegiate landscape. If Florida State decides to challenge the ACC's grant of rights, it would not leave the conference immediately, but the process would take time and entail significant legal risks. The board meeting comes after months of discussions and concerns about the school's future within the ACC.
Florida State University is expected to initiate the process of leaving the Atlantic Coast Conference (ACC), as discussions around the school's potential departure intensify. The FSU Board of Trustees is set to meet to discuss the matter, and while the specific legal steps are unclear, the school may seek a "declaratory judgment action" to challenge the ACC's binding grant-of-rights agreement. This move comes after FSU's exclusion from the College Football Playoff and dissatisfaction with the ACC's revenue distribution compared to other conferences. While any departure from the ACC would be at least a year away, this legal maneuver could pave the way for other ACC programs to follow suit.
Florida State University is expected to initiate the process of leaving the Atlantic Coast Conference (ACC), as discussions around the school's potential departure intensify. The FSU Board of Trustees is set to meet to discuss the matter, and while the specific legal steps are unclear, the school may seek a "declaratory judgment action" to challenge the ACC's binding grant-of-rights agreement. This move comes after FSU's exclusion from the College Football Playoff and dissatisfaction with the ACC's revenue distribution compared to other conferences. While any departure from the ACC would be at least a year away, this legal maneuver could pave the way for other ACC programs to follow suit.
Florida State University has been engaged in discussions about its future in the Atlantic Coast Conference (ACC) following its exclusion from the College Football Playoff (CFP). The snub, which came after the Seminoles' undefeated regular season and ACC championship win, has reignited dissatisfaction with the conference among university officials. While no immediate departure is planned, Florida State is considering its options due to concerns over revenue distribution and the widening gap between the ACC and other conferences. Any school leaving the ACC would have to challenge the grant of rights and pay a hefty exit fee.
Florida State University (FSU) is considering leaving the Atlantic Coast Conference (ACC) due to dissatisfaction with revenue distribution. FSU has until August 15th to give notice of departure, but leaving the ACC would come with a $120 million exit fee and potential legal battles over the grant of rights. While FSU's discontent has sparked discussions about potential moves to the Big Ten or SEC, the exact landing spot and cost of regaining TV rights remain uncertain. The most likely outcome is that FSU will stay in the ACC for now, but the ripple effects of their potential departure are already being felt within the conference.
ACC commissioner Jim Phillips addressed the recent realignment rumors and said that universities are encouraged to examine the conference's grant of rights. Reports emerged that a group of seven ACC schools have met together and with lawyers to examine the grant of rights, which tethers the schools to each other and the league through 2036. The ACC board of directors will not vote next week on a new revenue-sharing model, but the league is discussing weighted ways to reward on-field success. Florida State athletic director Michael Alford said the Seminoles are "thrilled" to be in the ACC and wanted to remain a league member.