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Started By
Message
Maryland sues the ACC
Posted on 1/18/13 at 6:27 pm
Posted on 1/18/13 at 6:27 pm
quote:
The University of Maryland filed a lawsuit against the Atlantic Coast Conference after the college football association sued to force the school to pay $52.3 million in exit fees for leaving the group.
The college claims in a lawsuit filed in Prince George’s County Circuit Court in Maryland that the exit penalty is a violation of antitrust law, state Attorney General Douglas Gansler said today in a statement. Maryland also seeks to dismiss the ACC’s lawsuit in state court in North Carolina.
“Our lawsuit calls the ACC’s ‘exit fee’ what it really is -- an antitrust violation and an illegal activity,” Gansler said in the statement. “Our motion in North Carolina will ensure that a Maryland court will rule on the case.”
LINK
5
Posted on 1/18/13 at 6:27 pm to Bench McElroy
I bet the ACC is shell shocked...
Posted on 1/18/13 at 6:30 pm to hg
Ba-zing
Posted on 1/18/13 at 6:33 pm to hg
BAZOOKA
Posted on 1/18/13 at 6:43 pm to Pilot Tiger
[roots for Maryland to win lawsuit]
Posted on 1/18/13 at 6:44 pm to TigersOfGeauxld
This is Jack's total lack of surprise.
Posted on 1/18/13 at 8:02 pm to hg
Maryland should get their shite pushed in in this lawsuit.
Posted on 1/18/13 at 8:06 pm to Bench McElroy
quote:
pay $52.3 million in exit fees for leaving the group.
F'n ridiculous.
Posted on 1/18/13 at 9:12 pm to whodidthat
isn't there a "restraint of trade" clause?
Posted on 1/18/13 at 9:13 pm to Bench McElroy
I would just fax the contract, that Maryland signed - agreeing to the buyout, to the judge.
Posted on 1/18/13 at 9:26 pm to AUCE05
quote:Does Auburn have a law school? If so I hope you're not a grad.
I would just fax the contract, that Maryland signed - agreeing to the buyout, to the judge.
Maryland didn't sign anything agreeing to the buyout.
Posted on 1/18/13 at 9:51 pm to Touchdowns4LSU
You sure? I thought after the last realignment talk, all ACC schools agreed to a redicules buyout.
Posted on 1/18/13 at 9:53 pm to AUCE05
quote:
You sure? I thought after the last realignment talk, all ACC schools agreed to a redicules buyout.
Maryland and FSU's presidents refused to vote I think.
ETA: MD and FSU dissented.
quote:
In the suit, filed Monday in Greensboro, N.C., the ACC is pursuing a declaratory judgment, essentially asking the court to impose the rules its members have established. In September, the ACC’s Council of Presidents — the leaders of the league’s 12 schools — voted (with Maryland and Florida State dissenting) to raise its exit fee to three times the league’s operating budget, which this year is $17,422,114, according to the complaint.
LINK
This post was edited on 1/18/13 at 9:55 pm
Posted on 1/18/13 at 9:56 pm to tigerpimpbot
LINK
quote:
In early September, 2012, the Council of Presidents of the ACC member institutions voted in favor of provisions requiring payment of an exit fee by member schools wishing to withdraw from the Conference, which was effective immediately upon the vote in affirmation by the presidents. According to the Complaint filed by the ACC, “Each member has agreed…to be bound by votes of the Council of Presidents. Specifically, defendant Maryland has agreed to be bound by votes taken by the Council of Presidents.”
This post was edited on 1/18/13 at 10:01 pm
Posted on 1/18/13 at 10:02 pm to AUCE05
It looks like the ACC got wind of MD wanting to move and then voted to increase the shite out of the penalty.
Posted on 1/19/13 at 12:14 am to FootballNostradamus
quote:
Maryland should get their shite pushed in in this lawsuit.
well they didn't agree to the absurd fee
Posted on 1/19/13 at 12:22 am to tigerpimpbot
quote:
It looks like the ACC got wind of MD wanting to move and then voted to increase the shite out of the penalty
They are worried about more than Maryland.
NC, Va, Ga Tech and perhaps Duke may be coveted by the Big 10. FSU, Ga Tech, Clemson, and Louisville might make sense to the Big 12. And teh SEC may have its eyes on a school from NC and Va as well.
The ACC's stability is in question no matter what the outcome of this lawsuit - but the end of the ACC may be hastened if the penalty is greatly reduced.
Posted on 1/19/13 at 3:42 am to molsusports
quote:
They are worried about more than Maryland. NC, Va, Ga Tech and perhaps Duke may be coveted by the Big 10.
unlike Maryland, they agreed to the buyout
Posted on 1/19/13 at 4:10 am to TigerintheNO
If the $52M exit fee is struck down it doesn't matter. Not a lawyer, but if Maryland wins the exit fee would mostly likely be reduced to the original exit fee that they agreed to. It would be funny if the ACC collapsed along with the BE.
Posted on 1/19/13 at 8:53 am to StraightCashHomey21
quote:
well they didn't agree to the absurd fee
Did they take money from the new conference tv and multi media deals?
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