This will become very relevant when the time comes for FSU to leave the ACC. FSU could decide to challenge the ACC exit fee amount.
FSU voted along with Maryland against the ACC's exit fee amount of 3 times the annual TV payout. FSU called it "punitive" at the time it was enacted and declared that they did not think it would hold up in court. The exit fee is currently defined as 3 times the TV payout, estimated to be around $120M now.
The exit fee before this vote was just $20 million. The ACC tried to get $51M from Maryland at the time they left. Maryland ended up settling for $31M. Will be interesting to see if FSU fights it like Maryland did.
floridastate.rivals.com
FSU voted along with Maryland against the ACC's exit fee amount of 3 times the annual TV payout. FSU called it "punitive" at the time it was enacted and declared that they did not think it would hold up in court. The exit fee is currently defined as 3 times the TV payout, estimated to be around $120M now.
The exit fee before this vote was just $20 million. The ACC tried to get $51M from Maryland at the time they left. Maryland ended up settling for $31M. Will be interesting to see if FSU fights it like Maryland did.
TheOsceola - BOT Chair: FSU voted against increased exit fee
Florida State BOT chairman Allan Bense told Warchant.com that Florida State voted against the newly increased $50 million buyout announced by the leag
floridastate.rivals.com
