I'm no expert, but unless the ACC has done something that breaches its contract with FSU, then it seems that FSU has no leg to stand on. If the ACC is costing FSU more money than the "penalty," then FSU should simply withdraw and pay the agreed-upon "penalty." If not, then there doesn't seem much for FSU to complain about. Next time, don't sign a contract with an early withdrawal fee.
What on earth does your post have to do with the subject? The OP stated that FSU received “millions and millions of dollars in benefits”. They did not. This has nothing to do with signing a contract. It relates to the factually incorrect and dishonest way that a claim is being made that a party to a contract received a benefit from the contract.
Also, the motion notes that FSU accepted millions of dollars of benefits….
Here, FSU received millions and millions so they received consideration.
A contract that gives FSU millions and millions is not harsh and unfair.
These allegations of receiving millions and millions of dollars in benefits bear a closer look….
Last year, FSU earned $78-81m for the ACC and received $41m back from the ACC. In the 31 years that FSU has been in the conference, they have earned the conference far more than they received in payment. The cumulative total of the difference between what FSU earned for the ACC and what they received in benefits might, in inflation-adjusted dollars, be close to a billion dollars. FSU is, indisputably, the benefactor and not the beneficiary. The ACC has turned the facts on their head.
I'm pretty sure they signed this agreement knowing what was in it. And what their share of the revenue would look like. If they didn't like it, they should have done some negotiations at the time.
I am not following you at all. It looks like we are talking about two separate things. I am talking about the fact that FSU has NEVER, in the 31 years they have been in the ACC, received one cent in benefit. You can’t give someone something that you got from them in the first place. What are you talking about?
When your new car becomes a very expensive used car six months after you drive it off the lot, you still owe the bank. Doesn’t matter if you don’t like the car anymore, or if you later found a better deal.
Utterly off topic. As far as contracts go, the obligations are not unilateral but bilateral. If a party does not think that the other party is fulfilling their obligations, they have a right to seek redress. I have no idea of what you are talking about.
Thank you brilliant, clever TwistNHook for taking time to type these paragraphs for lesser mortals like myself.
We are all in suspense about the outcome.
But the legal maneuvering and imaginative plottings you elucidate are so beyond anything that ever occupies my cranium on ANY given day during my entire life thus far……. that your words humble my already small and atrophied mini-brain and emphasize that I may never understand ALL.
Yet, I really loved reading every explanatory word.
Your underlying mood seems also to be full of amusement about many parts and you are even having fun chuckling as you write.
While, conversely, my knuckles are white as I grasp my I-pad hoping to force my mind hold on to bits and pieces.
Now I know why attorneys can command such high fees.
Gratitude again that you would share all this will others. It brightened and lifted my day.
Now onward for me and get doing the laundry & washing the dishes.
I'm no expert, but unless the ACC has done something that breaches its contract with FSU, then it seems that FSU has no leg to stand on. If the ACC is costing FSU more money than the "penalty," then FSU should simply withdraw and pay the agreed-upon "penalty." If not, then there doesn't seem much for FSU to complain about. Next time, don't sign a contract with an early withdrawal fee.
What on earth does your post have to do with the subject? The OP stated that FSU received “millions and millions of dollars in benefits”. They did not. This has nothing to do with signing a contract. It relates to the factually incorrect and dishonest way that a claim is being made that a party to a contract received a benefit from the contract.
An important point to note here………..
Also, the motion notes that FSU accepted millions of dollars of benefits….
Here, FSU received millions and millions so they received consideration.
A contract that gives FSU millions and millions is not harsh and unfair.
These allegations of receiving millions and millions of dollars in benefits bear a closer look….
Last year, FSU earned $78-81m for the ACC and received $41m back from the ACC. In the 31 years that FSU has been in the conference, they have earned the conference far more than they received in payment. The cumulative total of the difference between what FSU earned for the ACC and what they received in benefits might, in inflation-adjusted dollars, be close to a billion dollars. FSU is, indisputably, the benefactor and not the beneficiary. The ACC has turned the facts on their head.
I'm pretty sure they signed this agreement knowing what was in it. And what their share of the revenue would look like. If they didn't like it, they should have done some negotiations at the time.
I am not following you at all. It looks like we are talking about two separate things. I am talking about the fact that FSU has NEVER, in the 31 years they have been in the ACC, received one cent in benefit. You can’t give someone something that you got from them in the first place. What are you talking about?
That’s why contracts are signed.
When your new car becomes a very expensive used car six months after you drive it off the lot, you still owe the bank. Doesn’t matter if you don’t like the car anymore, or if you later found a better deal.
Utterly off topic. As far as contracts go, the obligations are not unilateral but bilateral. If a party does not think that the other party is fulfilling their obligations, they have a right to seek redress. I have no idea of what you are talking about.
you don't seem to have any idea what you are talking about either lol
Excellent response. Very topical and informative.
in my defense I am jet lagged and low on coffee, and therefore very grouchy. my apologies.
Apology not accepted. Well kinda accepted depending on what time of day it is and whether I have had my nap.
Thank you brilliant, clever TwistNHook for taking time to type these paragraphs for lesser mortals like myself.
We are all in suspense about the outcome.
But the legal maneuvering and imaginative plottings you elucidate are so beyond anything that ever occupies my cranium on ANY given day during my entire life thus far……. that your words humble my already small and atrophied mini-brain and emphasize that I may never understand ALL.
Yet, I really loved reading every explanatory word.
Your underlying mood seems also to be full of amusement about many parts and you are even having fun chuckling as you write.
While, conversely, my knuckles are white as I grasp my I-pad hoping to force my mind hold on to bits and pieces.
Now I know why attorneys can command such high fees.
Gratitude again that you would share all this will others. It brightened and lifted my day.
Now onward for me and get doing the laundry & washing the dishes.
What she said : )