|
5:30 PM - A conference call took place at noon on Wednesday to discuss Texas A&M's accepted application to the SEC conditional on a release of potential legal claims by Big 12 schools against the SEC.
Big 12 commissioner Dan Beebe addressed the contents of the call:
“This is the first time to my knowledge that a conference has been requested to waive any legal claims toward another conference for any damages suffered with a membership change.
"The Big 12 Conference was asked by Texas A&M University and the Southeastern Conference to waive any such claim to help facilitate Texas A&M’s departure from the Conference without any consideration to the Big 12.
"Although they were not obligated to do so, the Big 12 Board of Directors decided to accommodate that request as it relates to The Big 12 Conference, Inc., which is reflected in the September 2 letter sent to SEC commissioner Mike Slive.
"However, the waiver did not and could not bind the individual member institutions’ governing boards to waive institutional rights.
"If the departure of Texas A&M results in significant changes in the Big 12 membership, several institutions may be severely affected after counting on revenue streams from contracts that were approved unanimously by our members, including Texas A&M. In some cases, members reasonably relied on such approval to embark on obligations that will cost millions of dollars.”
As an example, I've been told Baylor is particularly concerned about the potential loss of TV revenue in the Big 12 (if the league comes apart) because it is financing improvements to BU's football stadium with money budgeted from TV revenue.
As each school of the big12 we ( 4 months ago ) agreed on a New multi year contract on local Tv listings on Big12 schools in the state of Texas ( not longhorn network ) Texas , Tech , Baylor , A&M and Okie St and OU all signed this contract since those are the teams that are shown all over the state of Texas now that A&M wants to leave there part of the deal wont be lived up to. Baylor is getting a much needed make over to there stadium and this is how they are paying for it.
( just as Texas , A&M , Ou and okie st did in the last 5 years )
Baylor is just p!$$ed now its there turn everyone is bailing out and they are left with debt and possibly no home. They just did this in the wrong time sounds like.
|