Joe Hoya
Golden Hoya (over 1000 posts)
You're watching Sports Night on CSC, so stick around.
Posts: 1,236
|
Post by Joe Hoya on May 3, 2005 22:58:56 GMT -5
|
|
|
|
Post by Fan Of The Game on May 4, 2005 12:20:53 GMT -5
One thing I can't figure out...did this actually hurt Georgetown financially?
Originally BC was to pay an exit fee which would have presumably been split among the remaining Big East schools. As a result of this settlement, BC's payment is going to the four schools in the lawsuit and not the Big East as a whole.
"It discharges Boston College's obligation to pay a withdrawal fee required by the Big East constitution.
The Courant, citing unnamed sources, reported that an additional $1 million of the settlement will essentially serve as Boston College's exit fee and the four Big East schools named in the agreement will share equally in the settlement."
Did Georgetown get jobbed out of its share?
|
|
FOTP
Golden Hoya (over 1000 posts)
Posts: 1,435
|
Post by FOTP on May 4, 2005 12:23:59 GMT -5
I was curious about this as well. I wasn't sure if it meant the football schools specifically, but my gut says this will hurt us a little.
Why didn't we sue as well? Or the whole league in general?
|
|
|
|
Post by Fan Of The Game on May 4, 2005 12:42:27 GMT -5
I think the basic argument of the suit was that UConn et al had invested money in their football program that they may not have had they known BC and Miami were going to jump ship. We would have had a hard time showing how BC and Miami leaving the Big East has hurt us financially.
But as for the exit fee, I don't recall ever seeing that that was football only. I want my cut! Even if it would be...what $90K or so? $1M divided by 11 remaining Big East schools?
|
|
FOTP
Golden Hoya (over 1000 posts)
Posts: 1,435
|
Post by FOTP on May 4, 2005 12:47:47 GMT -5
No one forced them to invest in the program. UCONN can go to hell. This was painful for the entire conference.
Basically I think it came down to UCONN and a few others were willing to pay the legal fees to fight and got the lions share of the amount.
Garbage...I want my money!
|
|
KHoyaNYC
Golden Hoya (over 1000 posts)
Posts: 1,900 
|
Post by KHoyaNYC on May 4, 2005 12:54:16 GMT -5
I think UCONN"s argument was basically one of detrimental reliance - my guess is BC/Miami made statements or there was correspondence with UCONN where BC/Miami stated that they would remain committed to the BE and UCONN relied on those statements when funding its football program.
|
|
|
|
Post by hoyalove4ever on May 4, 2005 13:49:57 GMT -5
BC and Miami lied like hell. As a result, the Big East fought them legally, as well it should have. Screw the ACC. I wish it had to pay the Big East $50MM.
At least by settling the lawsuit the ACC is on some level acknowledging that what it did to get BC and Miami was somewhat problematic. Even if it doesn't go to Gtown, I'm glad to see the ACC having to pony up some dough.
|
|
DFW HOYA
Platinum Hoya (over 5000 posts)
Posts: 5,774
|
Post by DFW HOYA on May 4, 2005 15:36:38 GMT -5
One thing I can't figure out...did this actually hurt Georgetown financially? Originally BC was to pay an exit fee which would have presumably been split among the remaining Big East schools. As a result of this settlement, BC's payment is going to the four schools in the lawsuit and not the Big East as a whole.... Did Georgetown get jobbed out of its share? BC's exit fee is not part of this. BC is still paying its $1M to the conference. This is the ACC as an organization settling the suit with $5 million, $1M directly to the conference as a form of liquidated damages over BC's exit, and $1M each to Pitt, WVU, Rutgers, and UConn, the four litigant schools. Georgetown has no share because it had no stake in the litigation. |
|
hoyainspirit
Platinum Hoya (over 5000 posts)
When life puts that voodoo on me, music is my gris-gris.
Posts: 8,394
|
Post by hoyainspirit on May 10, 2005 11:44:23 GMT -5
|
|
