cincibuck
You kids stay off my lawn!
In which case, why wouldn’t Duke and UNC demand the same from basketball revenue?
Sources: FSU, Clemson expected to reach settlement with ACC
FSU and Clemson will vote Tuesday on an agreement that would ultimately result in the settlement of lawsuits between the schools and the ACC, sources told ESPN.www.espn.com
Sources: FSU, Clemson expected to reach settlement with ACC
Florida State and Clemson will vote Tuesday on an agreement that would ultimately result in the settlement of four ongoing lawsuits between the schools and the ACC and a new revenue-distribution strategy that would solidify the conference's membership for the near future, sources told ESPN on Monday.
The ACC board of directors is scheduled to hold a call Tuesday to go over the settlement terms. In addition, Florida State and Clemson have both called board meetings to present the terms at noon ET Tuesday. All three boards must agree to the settlement for it to move forward, but sources throughout the league expect a deal to be reached.
According to sources, the settlement includes two key objectives: establishing a new revenue-distribution model based on viewership and a change in the financial penalties for exiting the league's grant of rights before its conclusion in June 2036.
This new revenue-distribution model -- or "brand initiative" -- is based on a five-year rolling average of TV ratings, though some logistics of this formula remain tricky, including how to properly average games on the unrated ACC Network or other subscription channels. The brand initiative will be funded through a split in the league's TV revenue, with 40% distributed evenly among the 14 longstanding members and 60% going toward the brand initiative and distributed based on TV ratings.
Top earners are expected to net an additional $15 million or more, according to sources, while some schools will see a net reduction in annual payout of up to about $7 million annually, an acceptable loss, according to several administrators at schools likely to be impacted, in exchange for some near-term stability.
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Just sayin': Besides getting a new revenue distribution model based on viewership and a change in financial penalties for exiting after 2023; both (i.e. Clemson and Free Shoes) undoubtedly came to the realization that no other conference wanted them.
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