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I'm kinda hoping they don't pay up and A&M bolts.........
http://www.chron.com/disp/story.mpl/...m/7129321.htmlBaylor, Missouri, Iowa State, Kansas and Kansas State — had agreed to give up their parts of the departing schools’ fees to the “big three” to make sure they reached the $20 million.
Beebe said Tuesday that Texas and Oklahoma had declined that offer from the five schools, but that A&M — whose athletic department is in the early stages of paying back a $16 million loan to the university — had not.
Pay up or we go SEC.A&M says Big 12 must fulfill pledge
Legal action, another look at SEC possible if league doesn’t pay $20 million
By BRENT ZWERNEMAN
COLLEGE STATION — The Big 12 Conference promised Texas A&M $20 million annually and the Aggies intend to collect, A&M president R. Bowen Loftin said Wednesday.
“A key part of Texas A&M’s decision to remain in the Big 12 earlier this summer was the commissioner’s commitment that Texas A&M would receive a minimum of $20 million annually in future conference distributions,” Loftin said in a statement. “We remain committed to the conference and fully anticipate that the Big 12 will honor its commitment to Texas A&M.”
And what happens if the Big 12 doesn’t honor its $20 million pledge? A high-ranking A&M official said late Wednesday that every legal avenue would be explored first, with the potential of bolting for the Southeastern Conference coming after.
Loftin issued the pointed proclamation in response to Big 12 commissioner Dan Beebe’s explanation on Tuesday to reporters gathered for the league’s media days in Irving how part of the plan to save the besieged conference is set up.
Part of the arrangement in the Big 12 surviving, as ABC/ESPN and Fox Sports stepped up financially (verbally to this point), hinged on league heavyweights Texas, Oklahoma and A&M each receiving $20 million annually in coming years, thanks to upgraded TV deals for the conference.
Nebraska and Colorado announced in June they are leaving the Big 12 for the Big Ten and Pacific 10, respectively, with the Cornhuskers set to leave next year (and Colorado to be determined).
The two schools will have reported exit fees of between $30 million and $40 million combined, and in keeping the league intact, five of the schools that would have been left behind had the conference dissolved — Baylor, Missouri, Iowa State, Kansas and Kansas State — had agreed to give up their parts of the departing schools’ fees to the “big three” to make sure they reached the $20 million.
Beebe said Tuesday that Texas and Oklahoma had declined that offer from the five schools, but that A&M — whose athletic department is in the early stages of paying back a $16 million loan to the university — had not. He added that the issue would be discussed further this fall.
The A&M official said Wednesday it wasn’t the school’s “concern” how the Big 12 got its money together for the revenue distribution — just that it lived up to its promise of $20 million annually, starting in 2012-13. The league’s pledge is oral, and the A&M official said the school’s lawyers are working to get the commitment in writing.
A&M strongly considered joining the SEC when it appeared the Big 12 would dissolve in early June. But UT, stung by the idea of perhaps joining the Pac 10 without its primary in-state rival, renewed its pledge to the beleaguered Big 12, and the nine remaining schools followed suit, in keeping the league together thanks mainly to the promise of an enriched annual payout.
The seven other schools are expected to receive between $14 million and $17 million annually. Big 12 schools have received between $7 million and $12 million annually in recent years.
I'm kinda hoping they don't pay up and A&M bolts.........
Same. Thing that seemed to be holding back A&M in the first place was the $15-20 million dollar exit penalty fee while being $16 million in debt to begin with.
Boring
i see that the annual pilgrimage of the wal mart tu fans has begun
so A&M is threatening to leave... because they potentially aren't getting their $20 million from other teams' exit fees....which means they will be paying an exit penalty fee themselves.....
....and leave to a conference where they are getting ready to pay each school $17.3 million.....
I'm sure A&M's position would be something along the lines of "keep the money you promised us, but we're not paying an exit fee".
I'm also sure that a lot of lawyers would make a lot of money debating the merits of that position.
I hope A&M bolts and then UT, TT, OSU, and OU come to the Pac-10 (Pac-16).
Would definitely try and get out of the exit fee. If they can somehow manage to do that through the legal system or an agreement than they will bolt if they aren't getting what's promised to them.
Probably right.
At the end of the day, seems to me that the exit fee penalty is mentioned in some kind of contract somewhere, while the money promised might have been not much more than a pinky swear.
Exactly why so many people are upset. No way they can generate that kind of money for A&M. They is so much pressure being put on the BOR and the President of the University for this decision. Most of the boosters wanted to go SEC and are waiting to see if Beebe can't hold up to his agreement. If so, they're gone IMO.
That's certainly the risk for A&M. As long as the SEC is going to be patient with A&M though, they still have some leverage.
In the end I don't think it matters. The B12-2 will be dead within 3 years.
If they don't get the money, there's going to be some serious turnover on the BOR.
I guess Texas and OU are good as long as they have their own networks, but A&M stayed because of the guaranteed $20 million. I hope they make good on their threat to leave if Beebe starts waffling on his word. An Aggie does not lie, cheat, or steal or tolerate those who do.
Walmart tshirt!
Another aggy win
So does this mean aggie rush freshmen aren't forced to spread ejaculate on longhorn paraphernalia in front of senior frat brothers while frat rushing or not?
A&M should bolt. Why would you want to play in a league where the Top 2 get the most distribution.
The big 12 is rigged for UT and Sooner Boomer.
You communist.
It's better than the alternative for the rest of the schools. If Aggie really did have an SEC invite, they're fools for not jumping at the opportunity.
That's pretty much how most of the A&M fan base feels.
you Anarcho libertarian.
Excellent post.
The last line is the Aggie code of honor. I understand such a concept confuses you.
Excellent post.
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