HDuck No. 1 Share Posted March 25 The settlement agreement between the 10 departing schools and the Pac-2 has been signed, per a source. Oregon State and Washington State will withhold $50 million of distributions from departing schools in this fiscal year ($5M per school) and collect a payment another $1.5M per school. 1 1 Link to post Share on other sites More sharing options...
HDuck Author No. 2 Share Posted March 25 Oops, I'm not sure much of that post was new news? See this from December... Ten Departing Pac-12 Schools Will Pay a Portion for Potential Legal Liabilities - Sports Illustrated Cal Bears News, Analysis and More WWW.SI.COM The majority of 2023-24 Pac-12 revenue will be distributed equally among the 12 schools 1 Link to post Share on other sites More sharing options...
Charles Fischer Administrator No. 3 Share Posted March 25 So…the media revenue for LAST year was 37 million? And ESPN offered only 30 million for FUTURE years is all? Apple offered only 22 million? Everybody wanted to hose the Pac 12, and ignore actual value. Receiving 49 million a year for the next 10 years plus the revenue from all the bonuses that come with being in the Big Ten, is not just a wise business move, it was essential for our survival. Bastards. 1 2 3 Mr. FishDuck Link to post Share on other sites More sharing options...
Jon Joseph Moderator No. 4 Share Posted March 25 It does not make me happy but Fox, after being jocked by ESPN and SEC poaching Oklahoma and Texas, played the entire realignment game perfectly. Grab the LA schools and wait for the Pac-10 to come up with a crummy new media deal, in part because Fox would not step up at all, then grab Oregon and UW at a discount through 2031. Apple tried to buy the Pac-10 inventory on the cheap and make the Pac-10 take all of the beta site streaming risk. Oregon was supposed to take this deal to help out Oregon State? How about the Commissioner? Being paid $3 Million a year because of his media expertise and he needs a consultant to help negotiate the new media deal. And the consultant he hired was a bosom buddy from law school. Has there ever been a business entity with a 'board of directors' as clueless as the bozos who allowed the Pac-12 to crater? Time after time after time that made the wrong business decision. One was not expanding into the midwest and killing off the B12. After making this pathetic decision, the fools had the hutzpah to call the Pac-12 'an exclusive club.' No one escapes this kind of hubris. Thanks for the post, HDuck, but as you so noted, this is the same capitulation that the Pac-10 agreed to earlier. Not surprising that the Pac-2's enabler-in-chief, John Canzano, would post this. How stupid is this settlement? The Pac-departees could have instead filed for liquidation in federal bankruptcy court. I practiced for decades in BK courts. I very much doubt that a BK court would deny those responsible for over 80 percent of the entity's liabilities standing; the right to file the matter. Upon filing, the automatic stay would have prevented the Pac-2 from receiving any distributions before a one-hundred-and-twenty-day period, which is routinely extended, for the Pac-10 and its creditors to file a Plan of Liquidation. OSU and WSU would be viewed by the court as 'Insiders' and as such, would have had to surrender any preference payments received within the prior six months to the bankruptcy trustee. The decision by a state court in Washington as sustained on appeal, would also be stayed pending resolution of the bankruptcy filing. The Pac-10 would have had time to negotiate a reasonable settlement with the Pac-2. The Pac-2 suffered no injury at the hands of the Pac-10. The pledge of media rights was up and no exit fee was owed anyone. The Pac-10 owed no fiduciary duty whatsoever to the Pac-2. To file and litigate in BK court would not come close to costing $30 Million for each Pac-10 member. Parties that did no wrong should not be treated as if they somehow ripped off the two entities that were not worthy of receiving a realignment deal other than whatever was offered by the AAC and the MW. For any and every athletic department in the country, $30 to $35 Million is not an insignificant amount of money. The path of least resistance taken by the Pac 10/8 sickens me. As does blaming the Pac-10/8 for OSU's and WSU's business failures. 1 3 2 Link to post Share on other sites More sharing options...
HDuck Author No. 5 Share Posted March 25 More of the details from today... Pac-12 to Keep $65+ Million From Exiting Schools in Settlement WWW.SPORTICO.COM The Pac-12 has reached a settlement between its remaining and departing members over how they'll split league revenue and future income. 1 Link to post Share on other sites More sharing options...
The Grateful Duck No. 6 Share Posted March 25 On 3/25/2024 at 12:42 PM, Jon Joseph said: As does blaming the Pac-10/8 for OSU's and WSU's business failures. Not to mention their failures on the field. They certainly thought they had more value than they actually did. They were not wanted by any of their other supposed P5 peers when push came to desperation. 1 Link to post Share on other sites More sharing options...
David Marsh No. 7 Share Posted March 26 On 3/25/2024 at 11:54 AM, Charles Fischer said: So…the media revenue for LAST year was 37 million? And ESPN offered only 30 million for FUTURE years is all? Apple offered only 22 million? Everybody wanted to hose the Pac 12, and ignore actual value. Receiving 49 million a year for the next 10 years plus the revenue from all the bonuses that come with being in the Big Ten, is not just a wise business move, it was essential for our survival. Bastards. How Fox and ESPN Dismantled the Pac-12 | FishDuck FISHDUCK.COM FOX and Disney/ESPN control virtually all of college sports. The Pac-12 has failed to make a deal with either of... oh yeah the rigged it to kill a conference. I probably need to go back and add an update that the Pac-12 foolishly turned down a single offer from ESPN ... But I think it only highlights even more how the media giants wanted the conference dead and pulled apart for the pieces. Link to post Share on other sites More sharing options...
Charles Fischer Administrator No. 8 Share Posted March 26 I suggest you read Post No. 3 of this thread. The offer from ESPN was low-ball. It all turned out for the best for Oregon, as now we are part of the Big-2 conferences and actually have someone looking out for our interests. But it still does not justify the stealing by the Pig-2… Mr. FishDuck Link to post Share on other sites More sharing options...
SmithRiverDuck No. 9 Share Posted March 26 It's been a hard divorce. Don't remember the movie much but it's been a Kramer v. Kramer. Once all intentions were announced, entrenchments were made and no one has moved. It's WWl all over again. But, whatyougonna do? Fuggetaboutit! Just trying to get all the dialects down amongst our now, nation-length conference brethren......... Seriously, we could've ended up a "trailer trash" custody battle between Fresno and Boise (sorry to use Fresno I actually like them). In the end, everyone involved has done what's best in their own interests. For years, the likes of Florida State were willing to let the Wake Forests of the world ride their coat tails, much like the bark rats and that other one was allowed to in the Pac. Because there was enough money to go around. Now that there's not it's everyone for themselves. Like all divorces we will now mostly co-habitat with our new step-brothers and sisters. At certain "holiday events" (March Madness and other celebrations) we will awkwardly interact with our exes, while maintaining complete decorum. After all, We're amongst the upper crust. We ain't "trailer trash". (disclaimer: This post is made with the utmost cynical humility possible. And even if it ain't, I may have been drinking at the time.) Link to post Share on other sites More sharing options...
SmithRiverDuck No. 10 Share Posted March 26 Darn!! Forgot about the part where I thought that in this crazy world we live in there has never been a better time to have benefactor such that as Uncle Phil. I might have one more point as well, but as I mentioned before I've been drinking. Basically, since that double OT loss to Creighton. Not only because I thought we would've had a decent chance against Tennessee (Texas bothered me), but who the heck wouldn't want to see Dante against that Purdue guy? Ok, that's it. I'm going to beddy bye........ Link to post Share on other sites More sharing options...
OregonDucks No. 11 Share Posted March 27 I don’t understand why the departing schools would agree to this. The $5M should be placed in escrow and any amount not needed for the overpayment of past media revenues returned to the schools. Seems like a lose-lose for the departing schools. Who cares about voting rights for the current year? The major revenue generating sports are all but finished. What am I missing? 1 Link to post Share on other sites More sharing options...
Jon Joseph Moderator No. 12 Share Posted March 27 OregonDucks - What are you missing? Nothing, you are spot on. What are the Pac-10 powers-that-be missing? Spines and brains. 1 Link to post Share on other sites More sharing options...
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