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Post by 93beav on Sept 27, 2024 7:36:09 GMT -8
Apologies if this was posted in one of our 70 threads on realignment. boisedev.com/news/2024/09/26/pac-12-term-sheet/Interesting calculation of exit fees tied to existing contributions, in case someone leaves early. Allows everyone a chance to join a P4. |
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Post by Henry Skrimshander on Sept 27, 2024 9:07:59 GMT -8
"The term sheet said schools must participate in Pac-12-sponsored sports where new members have varsity programs."
Taking this to mean we will have a Pac-12 baseball conference in 2027.
Need GU to join, then one affiliate member to get to six. Or Boise better re-start its program, or USU needs to start a program, like almost every other D1 school in that state.
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Post by korculabeav on Sept 27, 2024 12:48:37 GMT -8
Apologies if this was posted in one of our 70 threads on realignment. boisedev.com/news/2024/09/26/pac-12-term-sheet/Interesting calculation of exit fees tied to existing contributions, in case someone leaves early. Allows everyone a chance to join a P4. Love the media's misuse of the phrase "term sheet". There is no such thing. The document is a legal "Agreement". More or less a contract amongst signatory parties. A term sheet insinuates a list of proposed terms or an outline that is non-binding. Call it what it is Boise media. |
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bill82
Sophomore
OSU's 10,157th Best Donor
Posts: 1,009 
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Post by bill82 on Sept 28, 2024 13:00:16 GMT -8
![]()    Idaho public records laws requires that residents get responses in no less than 10 business days and non-residents 21 business days. I'm still waiting for my copy, but an Idaho Newspaper got a copy early. All I have is these crappy images. I will post a pdf when I get it. The X post may give you better images. You can compare this with other recent admission agreements available on my substack. My take on this one is that it is more of a "start-up" agreement, as opposed to a typical admission agreement. The language implies all members will work together to explore multiple revenue streams and minimize cost exposure for Olympic sports. Unusual Stuff▪️Good faith obligation to look at additional funding models and pledge institutional assets to the Pac 12. ▪️Teams can exit from GOR at a slight discount if invited by SEC, Big Ten, Big 12 or ACC (for football only or all sports). ▪️Only four required sports: football 🏈, men's and women's basketball 🏀 and women's volleyball 🏐. ▪️ Good faith discussions on investment levels (during this year) Standard stuff▪️Letter agreement converted to long-form agreement by Oct 11. ▪️Disputes resolved through arbitration. ▪️GOR for five years. ▪️Revenue sharing 💰: Four bullets redacted. Members retain 50% of CFB and MBB playoff revenue if a participant. Balance distributed equally. ▪️If a new member does not follow through and join in two years a penalty of $40 million💰is payable to Pac 12. |
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Post by ag87 on Sept 28, 2024 15:21:22 GMT -8
That's great stuff Bill. Thanks for doing the legwork.
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Post by sparty on Sept 29, 2024 6:48:43 GMT -8
Apologies if this was posted in one of our 70 threads on realignment. boisedev.com/news/2024/09/26/pac-12-term-sheet/Interesting calculation of exit fees tied to existing contributions, in case someone leaves early. Allows everyone a chance to join a P4. What if these new schools claim they signed it under duress for financial reasons? |
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Post by Henry Skrimshander on Sept 29, 2024 8:29:57 GMT -8
Apologies if this was posted in one of our 70 threads on realignment. boisedev.com/news/2024/09/26/pac-12-term-sheet/Interesting calculation of exit fees tied to existing contributions, in case someone leaves early. Allows everyone a chance to join a P4. What if these new schools claim they signed it under duress for financial reasons? Then they file a lawsuit. Just as us and Wazzu did. Pretty simple. |
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