Quote:
Originally Posted by alnorth
You were confused by the legal language. When all parties agree that someone will be damaged when something bad happens, but they also agree that the amount of damage will be hard to determine, it is common to agree ahead of time to something that the law refers to as " liquidated damages". That is what was done here. Often you will sign a contract saying "we agree that if *bad thing* happens, rather than fight about the proper penalty, which we also agree that the amount would be tough to determine, we'll just simply agree ahead of time to a fine of $X"
Mizzou agreed that if they left with notice less than a year but greater than 6 months, then they forfeit 90% of what they made for the last 2 seasons they were in the conference. The Big 12 would then refuse to pay Mizzou anything for the last part of this season (which is more than 10% at this point) and send Mizzou a bill for what they owe, which would be 90% of 2010, plus 90% of 2011 less what was withheld. |
I wasn't confused by anything. The conference agreed that a team leaving an intact league would cause damages of $6million. The conference is going to have a hell of a time showing that a team leaving an already fractured league owes more in damages than the first schools that left.