After an offseason full of inquiry about their place within the faculty soccer world, together with being unceremoniously neglected of the School Soccer Playoffs Florida State College is lastly exploring their choices by way of exiting their Grant of Rights contract.
Florida State BoT voted to approve the submitting of a lawsuit towards the ACC that challenges the grant of rights.
— Ralph D. Russo (@ralphDrussoAP) December 22, 2023
As a refresher, the Grant of Rights is an settlement every ACC group signed in 2013 in response to Maryland leaving the Large Ten. This primarily gave their rights to broadcast their video games over to the ACC, not the person college. This deal is prolonged by 2036, as a result of again in 2013 the thought was that not one of the faculties would attempt to depart the convention.
Effectively, a lot for that.
At Florida State’s Board of Trustees assembly, the ‘Noles primarily stoked the flames for his or her eventual departure, stating that the Grant of Rights shouldn’t be allowed and the college ought to be capable of depart the convention when it desires to with out paying the exit payment. The exit payment can be the remainder of the Grant of Rights contract stacked on high of an enormous withdrawal penalty, which has risen since 2013 when Maryland left to affix the B1G.
How a lot would that exit payment be? Effectively, let’s simply say I hope you saved some further Christmas cash:
So, now that we’ve set the stakes for the finally messy breakup, the longer term ramifications could possibly be large.
To begin with, there’s no method Florida State can elevate $572 million. That’s an insane sum of money that may greater than doubtless have to come back from reducing different smaller packages. Earlier within the low season, stories surfaced that the Seminoles have been wanting into a personal fairness fund to lift capital, however nothing was ever confirmed out of these stories. Both method it goes, they don’t have the cash to straight up simply go and depart, therefore why they’re analyzing the Grant of Rights once more and difficult it.
It’s additionally price noting that this isn’t the one ACC college that has appeared into the Grant of Rights. In gentle of the USC and UCLA transfer to the Large Ten this summer season, Florida State (together with Miami, Clemson, UNC, NC State, Virginia and Virginia Tech) all have been “completely” analyzing methods to get out of that Grant of Rights contract. But, nothing got here of it however feigned unity on all fronts. Throughout the season, because the Pac-12 stood on its final legs, the convention added Cal, Stanford and SMU, which appeared like it might easy issues over, proper?
I assume not.
Make no mistake about it, this transfer is extra concerning the Seminoles coming into a unique convention to make more cash as a substitute of the CFP snub. Whereas the snub may’ve been the straw that broke the camel’s again, this transfer is especially being introduced on by FSU wanting more cash.
On Thursday, the ACC filed a lawsuit towards the Florida State Board of Trustees, claiming that any jurisdiction must occur in North Carolina, the place the ACC headquarters are situated.
This will probably be messy, and there’s going to be lots of attorneys concerned. We’ll preserve you up to date on this ongoing saga.
