Big 12 buyout for Nebraska

[VA Husker Fan]

That means NU is going to pay around 900K to each school, which they'll be happy about, until they realize that next year we were supposed to visit MU, KU and Texas next year (and CU).

Based off gouging people an extra $20 per ticket when Nebraska showed up in town, a stadium that seats 60,000 means they lose approximately 1.2 million dollars next year for that game alone, and that doesn't count the other fan bases that don't travel as well as we do.

And let's not ignore the economic impact Husker fans had when they visited those towns

Great points! Plus some of those schools won't sell out their replacement game, so that's even more ticket revenue lost. If you sell 10,000 less tickets for a $50 game, that's another half a million lost, on top of the Husker premium you can't charge anymore.

 

[knapplc]

Two things:

1) They should never have announced that TV deal until this was finalized. It ruined a lot of monetary leverage they had against the two schools.

2) The relatively low figure (over $20 million less than some estimates) tells me that our speculation of shady dealings by the other schools has legs. It should have been much more. What motivation does the Big 12 have for making this easy on Nebraska at this stage? None whatsoever. They got every dime they could, but they got much less than they should have gotten

 

[HuskerNMO]

Two things:

1) They should never have announced that TV deal until this was finalized. It ruined a lot of monetary leverage they had against the two schools.

2) The relatively low figure (over $20 million less than some estimates) tells me that our speculation of shady dealings by the other schools has legs. It should have been much more. What motivation does the Big 12 have for making this easy on Nebraska at this stage? None whatsoever. They got every dime they could, but they got much less than they should have gotten

1) The funny thing is the deal doesn't even exist at this point, and they'll negotiate it next year and get some $$, but then in 2016 the Big Ten will get a new ESPN contract and the Big 12 will be far behind, again.

2) Exactly, they should have played things close to the vest, and beat the war drum about things like lost revenue from NU not coming to town next year to Lawrence, Columbia and Austin. Not only will it cost those programs the revenue that they would have gained from Nebraska fans traveling, their cities will lose the revenue of the visiting fans. Pretty hard to get fired up to have Baylor come play in place of the Huskers

 

[knapplc]

Think of it this way. We spent $2 million dollars to rid ourselves of Steve Pederson. We spent $3.1 million dollars to rid ourselves of Bill Callahan.

That's an average of $2.55 million dollars to get rid of the pair.

We spent $9.255 million dollars to rid ourselves of 11 schools - or if you prefer, to rid ourselves of the hegemony of Texas, Texas A&M, Texas Tech, Baylor, and their lapdog, Oklahoma. That's an average of $1.851 million per school. Throw in the boors at Missouri (with respect to our friends at HB), KSU and Colorado and the savings increases even more.

Honestly, this is one hell of a bargain. :thumbs

 

[bleedNUred]

Think of it this way. We spent $2 million dollars to rid ourselves of Steve Pederson. We spent $3.1 million dollars to rid ourselves of Bill Callahan.

That's an average of $2.55 million dollars to get rid of the pair.

We spent $9.255 million dollars to rid ourselves of 11 schools - or if you prefer, to rid ourselves of the hegemony of Texas, Texas A&M, Texas Tech, Baylor, and their lapdog, Oklahoma. That's an average of $1.851 million per school. Throw in the boors at Missouri (with respect to our friends at HB), KSU and Colorado and the savings increases even more.

Honestly, this is one hell of a bargain. :thumbs

Agreed.

 

[commando]

what are the chances this isn't over yet? according to the article the deal is....

"subject to final approval from the member institutions’ respective governing boards."

 

[NUance]

In a news conference Tuesday, Perlman said he will suspend for one year the $2.5 million that the athletic department annually pays the university, and if all goes as planned, the athletic department should break even in 2010-11.

What are the odds that this will lead to a tuition hike? Well worth it in my mind. (Not that I pay tuition.)

 

[Notre Dame Joe]

In a news conference Tuesday, Perlman said he will suspend for one year the $2.5 million that the athletic department annually pays the university, and if all goes as planned, the athletic department should break even in 2010-11.

What are the odds that this will lead to a tuition hike? Well worth it in my mind. (Not that I pay tuition.)

Was the tuition not rising otherwise?

 

[knapplc]

In a news conference Tuesday, Perlman said he will suspend for one year the $2.5 million that the athletic department annually pays the university, and if all goes as planned, the athletic department should break even in 2010-11.

What are the odds that this will lead to a tuition hike? Well worth it in my mind. (Not that I pay tuition.)

Was the tuition not rising otherwise?

Yep. Pretty much every year. So it goes.

 

[Cob Mob]

Two things:

1) They should never have announced that TV deal until this was finalized. It ruined a lot of monetary leverage they had against the two schools.

2) The relatively low figure (over $20 million less than some estimates) tells me that our speculation of shady dealings by the other schools has legs. It should have been much more. What motivation does the Big 12 have for making this easy on Nebraska at this stage? None whatsoever. They got every dime they could, but they got much less than they should have gotten

Your second point is EXACTLY what I was thinking. There is NO reason these bitter little... people wouldn't want to break it off in our hind ends.... so why aren't they? There's a lot of UTerus dirt under the rugs they don't want coming up in court. Most of it petty little crap just in a vain attempt to spook NU into not leaving. But you gotta wonder if there's some BIG stuff under that rug?

 

[knapplc]

Some additional info tacked onto the LJS article later this evening:

The Buffaloes' departure will come June 30, one year earlier than expected, according to Colorado's agreement with the Big 12. Colorado will pay $6.86 million to leave the Big 12, a disparity Big 12 Commissioner Dan Beebe said was the result of the larger revenue share Nebraska gets from the Big 12 each year.
Once NU and Colorado are gone, the Big 12 will continue with 10 member schools.

To offset some of the lost revenue, Perlman said he will suspend for one year the $2.5 million the athletic department annually pays the university, which should allow the athletic department to break even in 2010-11.

In 2008-09, the most recent year figures are available, the Nebraska athletic department reported a $4.34 million surplus.

Expenses totaled $70.5 million. Perlman credited athletic director Tom Osborne for controlling costs.

Once Nebraska joins the Big Ten, NU will not receive a full share of revenue immediately, although it will receive at least as much as it would have received in the Big 12.

Perlman said the $9.255 million fee could affect efforts to renovate the Devaney Sports Center. Also, the university will suffer some by forfeiting the $2.5 million the athletic department annually pays the university.

That money typically has gone toward one-time expenses, such as Innovation Campus work, classroom modifications and faculty salaries, Perlman said.

"It's a hardship," he said. "There's no question about it. ... (But) going into the Big Ten was the right decision in the long term."

Beebe said the agreement means Nebraska, Colorado and the Big 12 can part ways without any legal disputes.

"Everybody had a very strong desire to ensure that we work this out collegially and without any kind of legal process involved," he said. "We're very excited about our future."

Funny - that makes the total paid by Nebraska and Nebraska's b!^@h about $16 million dollars - or, just about three million short of what they were thinking NU was going to pay on their own.

Dear Texas A&M,

Please make your meltdown very public and very personal.

Sincerely,

:bigredn:

 

[sd'sker]

Some additional info tacked onto the LJS article later this evening:

The Buffaloes' departure will come June 30, one year earlier than expected, according to Colorado's agreement with the Big 12. Colorado will pay $6.86 million to leave the Big 12, a disparity Big 12 Commissioner Dan Beebe said was the result of the larger revenue share Nebraska gets from the Big 12 each year.
Once NU and Colorado are gone, the Big 12 will continue with 10 member schools.

To offset some of the lost revenue, Perlman said he will suspend for one year the $2.5 million the athletic department annually pays the university, which should allow the athletic department to break even in 2010-11.

In 2008-09, the most recent year figures are available, the Nebraska athletic department reported a $4.34 million surplus.

Expenses totaled $70.5 million. Perlman credited athletic director Tom Osborne for controlling costs.

Once Nebraska joins the Big Ten, NU will not receive a full share of revenue immediately, although it will receive at least as much as it would have received in the Big 12.

Perlman said the $9.255 million fee could affect efforts to renovate the Devaney Sports Center. Also, the university will suffer some by forfeiting the $2.5 million the athletic department annually pays the university.

That money typically has gone toward one-time expenses, such as Innovation Campus work, classroom modifications and faculty salaries, Perlman said.

"It's a hardship," he said. "There's no question about it. ... (But) going into the Big Ten was the right decision in the long term."

Beebe said the agreement means Nebraska, Colorado and the Big 12 can part ways without any legal disputes.

"Everybody had a very strong desire to ensure that we work this out collegially and without any kind of legal process involved," he said. "We're very excited about our future."

Funny - that makes the total paid by Nebraska and Nebraska's b!^@h about $16 million dollars - or, just about three million short of what they were thinking NU was going to pay on their own.

Dear Texas A&M,

Please make your meltdown very public and very personal.

Sincerely,

:bigredn:

no one fully understood beebe's plan to fully pay texas, ou, and aTm what he promised them to get them to stay. if you read his blog, you would know that he is taking NU's and CU's exit penalty and betting on red, or black, or red... well he has not decided that yet, he did not get that far.

 

[Fuzzy]

Tell him to put in all on RED for once in his life and not orange.

We won't have to mail out $8-9 million check to Beebe, just mail it straight to Texas A&M. Beebe can pay the extra $5-6 million out of his salary to keep Texas A&M happy...

 

[Hingle McCringleberry]

Some additional info tacked onto the LJS article later this evening:

The Buffaloes' departure will come June 30, one year earlier than expected, according to Colorado's agreement with the Big 12. Colorado will pay $6.86 million to leave the Big 12, a disparity Big 12 Commissioner Dan Beebe said was the result of the larger revenue share Nebraska gets from the Big 12 each year.
Once NU and Colorado are gone, the Big 12 will continue with 10 member schools.

To offset some of the lost revenue, Perlman said he will suspend for one year the $2.5 million the athletic department annually pays the university, which should allow the athletic department to break even in 2010-11.

In 2008-09, the most recent year figures are available, the Nebraska athletic department reported a $4.34 million surplus.

Expenses totaled $70.5 million. Perlman credited athletic director Tom Osborne for controlling costs.

Once Nebraska joins the Big Ten, NU will not receive a full share of revenue immediately, although it will receive at least as much as it would have received in the Big 12.

Perlman said the $9.255 million fee could affect efforts to renovate the Devaney Sports Center. Also, the university will suffer some by forfeiting the $2.5 million the athletic department annually pays the university.

That money typically has gone toward one-time expenses, such as Innovation Campus work, classroom modifications and faculty salaries, Perlman said.

"It's a hardship," he said. "There's no question about it. ... (But) going into the Big Ten was the right decision in the long term."

Beebe said the agreement means Nebraska, Colorado and the Big 12 can part ways without any legal disputes.

"Everybody had a very strong desire to ensure that we work this out collegially and without any kind of legal process involved," he said. "We're very excited about our future."

Funny - that makes the total paid by Nebraska and Nebraska's b!^@h about $16 million dollars - or, just about three million short of what they were thinking NU was going to pay on their own.

Dear Texas A&M,

Please make your meltdown very public and very personal.

Sincerely,

:bigredn:

no one fully understood beebe's plan to fully pay texas, ou, and aTm what he promised them to get them to stay. if you read his blog, you would know that he is taking NU's and CU's exit penalty and betting on red, or black, or red... well he has not decided that yet, he did not get that far.

That is what I was thinking, MU, KU, KS, etc, they all get the shaft so Texas will allow them to stay in the conference... Texas, and OU will be pissed they were told x amount of dollars and now it wont even be close. Glad we will be upgrading out stadium off B10 TV dollars.... See ya suckers....

 

[huskers15]

The OWH has an article about it on-line. Could be $500,000 less if we make a BCS bowl.

While were at it......

Lets just whip these chumps a$$es, take the Texa$$ Twelve Trophy with us to the BCS game, and save this money too!