Here's what I'm thinking...
It has been reported by numerous sources that FSU will discuss an ACC exit strategy either through litigation, a buyout or some other means. We expected this meeting to take place in January so I'm only mildly curious to why now, two days before Christmas and a week before the bowl game. Other than the timing, we knew this meeting was coming.
Here's some background...
After the August zoom meeting, when the BOT formally discussed leaving the ACC, there was thought FSU might not renew the ACC agreement by August 15. August 15 came and went with FSU not filing an intent to leave.
At the Sept. 8-9 meeting, BOT Chairman Collins told the Osceola on video that there would be no further discussion about realignment until after the football season as the trustees did not want to create a distraction for what would be a special season but Collins added, we should not take their silence as inactivity.
He did not elaborate on what that activity would be but it's not a reach to think it could include an independent legal review of the Grant of Rights and a report on what grounds FSU could pursue for litigation or mediation.
That time could have also been used to examine private equity funding options and costs with a private consultant doing a feasibility study, calculating the exact value of the marketing rights, which the Osceola has previously guesstimated to be over $500 million, and the exit fee to be $100-125 million. The private equity study would calculate what the annual payment would be to borrow various amounts of debt over time.
These months could have been used for any number of other studies and reports behind closed doors in preparation for a future meeting as long as they were compliant with the Sunshine law (see law below)
At some point, perhaps tomorrow, any of those studies could be presented to the full board for discussion, or a vote,. I expect whatever is discussed tomorrow has been vetted one-on-one with each trustee by the consultant who can answer or investigate any questions they may have without violating the Sunshine law, so I don't think any of the trustees will be flying blind during the meeting.
Hope that helps.
GOVERNMENT IN THESUNSHINE LAW2•
Florida’s Government in the Sunshine Law, s.286.011, F.S., commonly referred to as the SunshineLaw, provides a right of access to governmentalproceedings of public boards or commissions at boththe state and local levels.• The law is equally applicable to elected andappointed boards, and applies to any gathering of twoor more members of the same board to discuss somematter which will foreseeably come before that boardfor action.3• There are three basic requirements of the SunshineLaw:• (1) meetings of public boards or commissions mustbe open to the public;• (2) reasonable notice of such meetings must be given;and• (3) minutes of the meetings must be taken andpromptly recorded.
