https://nclawyersweekly.com/2024/01/19/a...ida-state/

CHARLOTTE — The Atlantic Coast Conference accused Florida State of breach of contract Wednesday, saying the Seminoles broke promises when they legally challenged an agreement that binds the school to the league for the next dozen years.

The ACC initially sued the Florida State Board of Trustees in North Carolina in late December, asking a court to uphold the grant of rights as a valid and enforceable contract. The league insisted FSU cannot challenge the binding document that the Seminoles signed and that all related issues should be decided in the state where the conference is located.

The league formally amended its complaint Wednesday, alleging FSU violated the signed agreement when it chose to challenge the exclusive grant of rights. The conference also accused the school of releasing confidential information — “trade secrets” between the league and television partner ESPN — in its legal filing in the Sunshine State.

The ACC, in its 55-page filing, is seeking a trial and damages it “reasonably believes will be substantial.” The league also asked the court for a permanent injunction barring FSU from participating in the management of league affairs while it “has a direct and material conflict of interest” with the ACC’s purposes and objective. It also asked for a permanent injunction barring the Seminoles from disclosing confidential information about the TV agreement.

Both sides have agreed to respond to the complaints by mid-February. It could result in more motions filed.

No one expects a merger of the two complaints because they involve two separate state courts. One court could defer to the other or both could proceed independently. Both sides have requested a trial.

After months of threats and warnings, Florida State sued the league in Leon County Circuit Court and claimed the ACC mismanaged its members’ media rights and imposed “draconian” exit fees. Breaking the grant-of-rights agreement and leaving the ACC would cost Florida State $572 million, according to the lawsuit.

Florida State is looking for a way out of a conference it has been a member of since 1992. During its time in the ACC, Florida State won three football national championships, the most recent in 2013, and made the first College Football Playoff in 2014.

The Seminoles were left out of this season’s playoff despite an unbeaten record. Florida State President Richard McCullough said the playoff snub did not prompt the lawsuit.

However, the first sentence of Florida State’s claim states: “The stunning exclusion of the ACC’s undefeated football champion from the 2023-2024 College Football Playoff in deference to two one-loss teams from two competing Power Four conferences crystalized the years of failures by the ACC to fulfill its most fundamental commitments to FLORIDA STATE and its members.”

Florida State leaders believe the ACC locked its members into an undervalued and unusually lengthy contract with ESPN that leaves the Seminoles’ athletic programs at a massive disadvantage against schools in the Big Ten and Southeastern Conference, which have TV deals that pay more over a shorter period of time.

(01-22-2024 12:51 PM)XLance Wrote:  https://nclawyersweekly.com/2024/01/19/a...ida-state/

CHARLOTTE — The Atlantic Coast Conference accused Florida State of breach of contract Wednesday, saying the Seminoles broke promises when they legally challenged an agreement that binds the school to the league for the next dozen years.

The ACC initially sued the Florida State Board of Trustees in North Carolina in late December, asking a court to uphold the grant of rights as a valid and enforceable contract. The league insisted FSU cannot challenge the binding document that the Seminoles signed and that all related issues should be decided in the state where the conference is located.

The league formally amended its complaint Wednesday, alleging FSU violated the signed agreement when it chose to challenge the exclusive grant of rights. The conference also accused the school of releasing confidential information — “trade secrets” between the league and television partner ESPN — in its legal filing in the Sunshine State.

The ACC, in its 55-page filing, is seeking a trial and damages it “reasonably believes will be substantial.” The league also asked the court for a permanent injunction barring FSU from participating in the management of league affairs while it “has a direct and material conflict of interest” with the ACC’s purposes and objective. It also asked for a permanent injunction barring the Seminoles from disclosing confidential information about the TV agreement.

Both sides have agreed to respond to the complaints by mid-February. It could result in more motions filed.

No one expects a merger of the two complaints because they involve two separate state courts. One court could defer to the other or both could proceed independently. Both sides have requested a trial.

After months of threats and warnings, Florida State sued the league in Leon County Circuit Court and claimed the ACC mismanaged its members’ media rights and imposed “draconian” exit fees. Breaking the grant-of-rights agreement and leaving the ACC would cost Florida State $572 million, according to the lawsuit.

Florida State is looking for a way out of a conference it has been a member of since 1992. During its time in the ACC, Florida State won three football national championships, the most recent in 2013, and made the first College Football Playoff in 2014.

The Seminoles were left out of this season’s playoff despite an unbeaten record. Florida State President Richard McCullough said the playoff snub did not prompt the lawsuit.

However, the first sentence of Florida State’s claim states: “The stunning exclusion of the ACC’s undefeated football champion from the 2023-2024 College Football Playoff in deference to two one-loss teams from two competing Power Four conferences crystalized the years of failures by the ACC to fulfill its most fundamental commitments to FLORIDA STATE and its members.”

Florida State leaders believe the ACC locked its members into an undervalued and unusually lengthy contract with ESPN that leaves the Seminoles’ athletic programs at a massive disadvantage against schools in the Big Ten and Southeastern Conference, which have TV deals that pay more over a shorter period of time.

FSU's complaints are ligament and true.

(01-22-2024 12:56 PM)Garrettabc Wrote:  

(01-22-2024 12:51 PM)XLance Wrote:  https://nclawyersweekly.com/2024/01/19/a...ida-state/

CHARLOTTE — The Atlantic Coast Conference accused Florida State of breach of contract Wednesday, saying the Seminoles broke promises when they legally challenged an agreement that binds the school to the league for the next dozen years.

The ACC initially sued the Florida State Board of Trustees in North Carolina in late December, asking a court to uphold the grant of rights as a valid and enforceable contract. The league insisted FSU cannot challenge the binding document that the Seminoles signed and that all related issues should be decided in the state where the conference is located.

The league formally amended its complaint Wednesday, alleging FSU violated the signed agreement when it chose to challenge the exclusive grant of rights. The conference also accused the school of releasing confidential information — “trade secrets” between the league and television partner ESPN — in its legal filing in the Sunshine State.

The ACC, in its 55-page filing, is seeking a trial and damages it “reasonably believes will be substantial.” The league also asked the court for a permanent injunction barring FSU from participating in the management of league affairs while it “has a direct and material conflict of interest” with the ACC’s purposes and objective. It also asked for a permanent injunction barring the Seminoles from disclosing confidential information about the TV agreement.

Both sides have agreed to respond to the complaints by mid-February. It could result in more motions filed.

No one expects a merger of the two complaints because they involve two separate state courts. One court could defer to the other or both could proceed independently. Both sides have requested a trial.

After months of threats and warnings, Florida State sued the league in Leon County Circuit Court and claimed the ACC mismanaged its members’ media rights and imposed “draconian” exit fees. Breaking the grant-of-rights agreement and leaving the ACC would cost Florida State $572 million, according to the lawsuit.

Florida State is looking for a way out of a conference it has been a member of since 1992. During its time in the ACC, Florida State won three football national championships, the most recent in 2013, and made the first College Football Playoff in 2014.

The Seminoles were left out of this season’s playoff despite an unbeaten record. Florida State President Richard McCullough said the playoff snub did not prompt the lawsuit.

However, the first sentence of Florida State’s claim states: “The stunning exclusion of the ACC’s undefeated football champion from the 2023-2024 College Football Playoff in deference to two one-loss teams from two competing Power Four conferences crystalized the years of failures by the ACC to fulfill its most fundamental commitments to FLORIDA STATE and its members.”

Florida State leaders believe the ACC locked its members into an undervalued and unusually lengthy contract with ESPN that leaves the Seminoles’ athletic programs at a massive disadvantage against schools in the Big Ten and Southeastern Conference, which have TV deals that pay more over a shorter period of time.

FSU's complaints are ligament and true.

As opposed to tendon and false.

(01-22-2024 01:31 PM)Indytarheel Wrote:  

(01-22-2024 12:56 PM)Garrettabc Wrote:  

(01-22-2024 12:51 PM)XLance Wrote:  https://nclawyersweekly.com/2024/01/19/a...ida-state/

CHARLOTTE — The Atlantic Coast Conference accused Florida State of breach of contract Wednesday, saying the Seminoles broke promises when they legally challenged an agreement that binds the school to the league for the next dozen years.

The ACC initially sued the Florida State Board of Trustees in North Carolina in late December, asking a court to uphold the grant of rights as a valid and enforceable contract. The league insisted FSU cannot challenge the binding document that the Seminoles signed and that all related issues should be decided in the state where the conference is located.

The league formally amended its complaint Wednesday, alleging FSU violated the signed agreement when it chose to challenge the exclusive grant of rights. The conference also accused the school of releasing confidential information — “trade secrets” between the league and television partner ESPN — in its legal filing in the Sunshine State.

The ACC, in its 55-page filing, is seeking a trial and damages it “reasonably believes will be substantial.” The league also asked the court for a permanent injunction barring FSU from participating in the management of league affairs while it “has a direct and material conflict of interest” with the ACC’s purposes and objective. It also asked for a permanent injunction barring the Seminoles from disclosing confidential information about the TV agreement.

Both sides have agreed to respond to the complaints by mid-February. It could result in more motions filed.

No one expects a merger of the two complaints because they involve two separate state courts. One court could defer to the other or both could proceed independently. Both sides have requested a trial.

After months of threats and warnings, Florida State sued the league in Leon County Circuit Court and claimed the ACC mismanaged its members’ media rights and imposed “draconian” exit fees. Breaking the grant-of-rights agreement and leaving the ACC would cost Florida State $572 million, according to the lawsuit.

Florida State is looking for a way out of a conference it has been a member of since 1992. During its time in the ACC, Florida State won three football national championships, the most recent in 2013, and made the first College Football Playoff in 2014.

The Seminoles were left out of this season’s playoff despite an unbeaten record. Florida State President Richard McCullough said the playoff snub did not prompt the lawsuit.

However, the first sentence of Florida State’s claim states: “The stunning exclusion of the ACC’s undefeated football champion from the 2023-2024 College Football Playoff in deference to two one-loss teams from two competing Power Four conferences crystalized the years of failures by the ACC to fulfill its most fundamental commitments to FLORIDA STATE and its members.”

Florida State leaders believe the ACC locked its members into an undervalued and unusually lengthy contract with ESPN that leaves the Seminoles’ athletic programs at a massive disadvantage against schools in the Big Ten and Southeastern Conference, which have TV deals that pay more over a shorter period of time.

FSU's complaints are ligament and true.

As opposed to tendon and false.

Did ACC lawyers bring their meat tendonizer?

LOL at this thread going sideways.

(01-22-2024 03:23 PM)cuseroc Wrote:  LOL at this thread going sideways.

Yep!

This thread has become as big a joke as Florida State's case against the ACC.

So what "trade secrets" did FSU reveal and how did revealing these secrets cause the ACC damages?

(01-22-2024 03:50 PM)Garrettabc Wrote:  So what "trade secrets" did FSU reveal and how did revealing these secrets cause the ACC damages?

You'll have to direct all of your inquiries to the ACC legal team.

Aren't we putting the cartilage before the horse?



It looks like FSU is spending more than they are bringing in. Which as any person who does the same in their personal life knows, can be quite stressful. This can lead to desperate behavior. But maybe this lawsuit is the answer to the revenue problems.


https://www.sportico.com/leagues/college...234763168/


FLORIDA STATE SAW 2023 COSTS SOAR AHEAD OF ACC EXIT FIGHT

Florida State University says it spent $172 million on athletics in 2022-23, a $22 million spike from the previous year. However, the Seminoles’ revenue did not keep pace over that same period of time, increasing only about $9 million—from $161 million to $170 million. In light of this, FSU athletics reported ending the 2023 fiscal year with an overall deficit of $2.5 million, having previously claimed a $10.4 million surplus in FY22.

It’s the latest lens on a Seminoles program that has been vocal about financially falling behind its rivals in other conferences. Florida State is currently suing to get out of the ACC in hopes of landing in a richer league, and the school is also in talks to raise private equity funds to bridge the revenue gap.

These FSU numbers come from the school’s NCAA Membership Financial Reporting disclosures, which Sportico obtained through a public records request. It is not entirely clear from the report what constituted the sharp increase in costs—a sizable chunk of which ($49 million) was attributed to “other operating expenditures.”

(see article for more)

(01-22-2024 01:31 PM)Indytarheel Wrote:  

(01-22-2024 12:56 PM)Garrettabc Wrote:  

(01-22-2024 12:51 PM)XLance Wrote:  https://nclawyersweekly.com/2024/01/19/a...ida-state/

CHARLOTTE — The Atlantic Coast Conference accused Florida State of breach of contract Wednesday, saying the Seminoles broke promises when they legally challenged an agreement that binds the school to the league for the next dozen years.

The ACC initially sued the Florida State Board of Trustees in North Carolina in late December, asking a court to uphold the grant of rights as a valid and enforceable contract. The league insisted FSU cannot challenge the binding document that the Seminoles signed and that all related issues should be decided in the state where the conference is located.

The league formally amended its complaint Wednesday, alleging FSU violated the signed agreement when it chose to challenge the exclusive grant of rights. The conference also accused the school of releasing confidential information — “trade secrets” between the league and television partner ESPN — in its legal filing in the Sunshine State.

The ACC, in its 55-page filing, is seeking a trial and damages it “reasonably believes will be substantial.” The league also asked the court for a permanent injunction barring FSU from participating in the management of league affairs while it “has a direct and material conflict of interest” with the ACC’s purposes and objective. It also asked for a permanent injunction barring the Seminoles from disclosing confidential information about the TV agreement.

Both sides have agreed to respond to the complaints by mid-February. It could result in more motions filed.

No one expects a merger of the two complaints because they involve two separate state courts. One court could defer to the other or both could proceed independently. Both sides have requested a trial.

After months of threats and warnings, Florida State sued the league in Leon County Circuit Court and claimed the ACC mismanaged its members’ media rights and imposed “draconian” exit fees. Breaking the grant-of-rights agreement and leaving the ACC would cost Florida State $572 million, according to the lawsuit.

Florida State is looking for a way out of a conference it has been a member of since 1992. During its time in the ACC, Florida State won three football national championships, the most recent in 2013, and made the first College Football Playoff in 2014.

The Seminoles were left out of this season’s playoff despite an unbeaten record. Florida State President Richard McCullough said the playoff snub did not prompt the lawsuit.

However, the first sentence of Florida State’s claim states: “The stunning exclusion of the ACC’s undefeated football champion from the 2023-2024 College Football Playoff in deference to two one-loss teams from two competing Power Four conferences crystalized the years of failures by the ACC to fulfill its most fundamental commitments to FLORIDA STATE and its members.”

Florida State leaders believe the ACC locked its members into an undervalued and unusually lengthy contract with ESPN that leaves the Seminoles’ athletic programs at a massive disadvantage against schools in the Big Ten and Southeastern Conference, which have TV deals that pay more over a shorter period of time.

FSU's complaints are ligament and true.

As opposed to tendon and false.

Does this mean that the ACC’s countersuit is just a bone-to-pick with FSU?

(01-22-2024 05:51 PM)Wahoowa84 Wrote:  

(01-22-2024 01:31 PM)Indytarheel Wrote:  

(01-22-2024 12:56 PM)Garrettabc Wrote:  

(01-22-2024 12:51 PM)XLance Wrote:  https://nclawyersweekly.com/2024/01/19/a...ida-state/

CHARLOTTE — The Atlantic Coast Conference accused Florida State of breach of contract Wednesday, saying the Seminoles broke promises when they legally challenged an agreement that binds the school to the league for the next dozen years.

The ACC initially sued the Florida State Board of Trustees in North Carolina in late December, asking a court to uphold the grant of rights as a valid and enforceable contract. The league insisted FSU cannot challenge the binding document that the Seminoles signed and that all related issues should be decided in the state where the conference is located.

The league formally amended its complaint Wednesday, alleging FSU violated the signed agreement when it chose to challenge the exclusive grant of rights. The conference also accused the school of releasing confidential information — “trade secrets” between the league and television partner ESPN — in its legal filing in the Sunshine State.

The ACC, in its 55-page filing, is seeking a trial and damages it “reasonably believes will be substantial.” The league also asked the court for a permanent injunction barring FSU from participating in the management of league affairs while it “has a direct and material conflict of interest” with the ACC’s purposes and objective. It also asked for a permanent injunction barring the Seminoles from disclosing confidential information about the TV agreement.

Both sides have agreed to respond to the complaints by mid-February. It could result in more motions filed.

No one expects a merger of the two complaints because they involve two separate state courts. One court could defer to the other or both could proceed independently. Both sides have requested a trial.

After months of threats and warnings, Florida State sued the league in Leon County Circuit Court and claimed the ACC mismanaged its members’ media rights and imposed “draconian” exit fees. Breaking the grant-of-rights agreement and leaving the ACC would cost Florida State $572 million, according to the lawsuit.

Florida State is looking for a way out of a conference it has been a member of since 1992. During its time in the ACC, Florida State won three football national championships, the most recent in 2013, and made the first College Football Playoff in 2014.

The Seminoles were left out of this season’s playoff despite an unbeaten record. Florida State President Richard McCullough said the playoff snub did not prompt the lawsuit.

However, the first sentence of Florida State’s claim states: “The stunning exclusion of the ACC’s undefeated football champion from the 2023-2024 College Football Playoff in deference to two one-loss teams from two competing Power Four conferences crystalized the years of failures by the ACC to fulfill its most fundamental commitments to FLORIDA STATE and its members.”

Florida State leaders believe the ACC locked its members into an undervalued and unusually lengthy contract with ESPN that leaves the Seminoles’ athletic programs at a massive disadvantage against schools in the Big Ten and Southeastern Conference, which have TV deals that pay more over a shorter period of time.

FSU's complaints are ligament and true.

As opposed to tendon and false.

Does this mean that the ACC’s countersuit is just a bone-to-pick with FSU?

Ohhh I see it now

(01-22-2024 04:30 PM)Pervis_Griffith Wrote:  Aren't we putting the cartilage before the horse?



It looks like FSU is spending more than they are bringing in. Which as any person who does the same in their personal life knows, can be quite stressful. This can lead to desperate behavior. But maybe this lawsuit is the answer to the revenue problems.


https://www.sportico.com/leagues/college...234763168/


FLORIDA STATE SAW 2023 COSTS SOAR AHEAD OF ACC EXIT FIGHT

Florida State University says it spent $172 million on athletics in 2022-23, a $22 million spike from the previous year. However, the Seminoles’ revenue did not keep pace over that same period of time, increasing only about $9 million—from $161 million to $170 million. In light of this, FSU athletics reported ending the 2023 fiscal year with an overall deficit of $2.5 million, having previously claimed a $10.4 million surplus in FY22.

It’s the latest lens on a Seminoles program that has been vocal about financially falling behind its rivals in other conferences. Florida State is currently suing to get out of the ACC in hopes of landing in a richer league, and the school is also in talks to raise private equity funds to bridge the revenue gap.

These FSU numbers come from the school’s NCAA Membership Financial Reporting disclosures, which Sportico obtained through a public records request. It is not entirely clear from the report what constituted the sharp increase in costs—a sizable chunk of which ($49 million) was attributed to “other operating expenditures.”

(see article for more)

A $2.5MM deficit in the AD? Rutgers says "hold my beer!". Seriously, $2.5 MM is nothing, Rutgers runs $20mm, $30MM, ...up to $50MM annually. Stealing much from students and the general fund., borrowing more that will never be paid back. Actually, the state of NJ gives them a bunch a cash too. And on top of that, they rarely sniff a winning season let alone a playoff spot. FSU has a lot to learn from Rutgers. And they do this all with B1G cash!

Also, UConn runs some big deficits, too.

Anyway, a look at the lighter side of AD issues.

(01-22-2024 05:51 PM)Wahoowa84 Wrote:  

(01-22-2024 01:31 PM)Indytarheel Wrote:  

(01-22-2024 12:56 PM)Garrettabc Wrote:  

(01-22-2024 12:51 PM)XLance Wrote:  https://nclawyersweekly.com/2024/01/19/a...ida-state/

CHARLOTTE — The Atlantic Coast Conference accused Florida State of breach of contract Wednesday, saying the Seminoles broke promises when they legally challenged an agreement that binds the school to the league for the next dozen years.

The ACC initially sued the Florida State Board of Trustees in North Carolina in late December, asking a court to uphold the grant of rights as a valid and enforceable contract. The league insisted FSU cannot challenge the binding document that the Seminoles signed and that all related issues should be decided in the state where the conference is located.

The league formally amended its complaint Wednesday, alleging FSU violated the signed agreement when it chose to challenge the exclusive grant of rights. The conference also accused the school of releasing confidential information — “trade secrets” between the league and television partner ESPN — in its legal filing in the Sunshine State.

The ACC, in its 55-page filing, is seeking a trial and damages it “reasonably believes will be substantial.” The league also asked the court for a permanent injunction barring FSU from participating in the management of league affairs while it “has a direct and material conflict of interest” with the ACC’s purposes and objective. It also asked for a permanent injunction barring the Seminoles from disclosing confidential information about the TV agreement.

Both sides have agreed to respond to the complaints by mid-February. It could result in more motions filed.

No one expects a merger of the two complaints because they involve two separate state courts. One court could defer to the other or both could proceed independently. Both sides have requested a trial.

After months of threats and warnings, Florida State sued the league in Leon County Circuit Court and claimed the ACC mismanaged its members’ media rights and imposed “draconian” exit fees. Breaking the grant-of-rights agreement and leaving the ACC would cost Florida State $572 million, according to the lawsuit.

Florida State is looking for a way out of a conference it has been a member of since 1992. During its time in the ACC, Florida State won three football national championships, the most recent in 2013, and made the first College Football Playoff in 2014.

The Seminoles were left out of this season’s playoff despite an unbeaten record. Florida State President Richard McCullough said the playoff snub did not prompt the lawsuit.

However, the first sentence of Florida State’s claim states: “The stunning exclusion of the ACC’s undefeated football champion from the 2023-2024 College Football Playoff in deference to two one-loss teams from two competing Power Four conferences crystalized the years of failures by the ACC to fulfill its most fundamental commitments to FLORIDA STATE and its members.”

Florida State leaders believe the ACC locked its members into an undervalued and unusually lengthy contract with ESPN that leaves the Seminoles’ athletic programs at a massive disadvantage against schools in the Big Ten and Southeastern Conference, which have TV deals that pay more over a shorter period of time.

FSU's complaints are ligament and true.

As opposed to tendon and false.

Does this mean that the ACC’s countersuit is just a bone-to-pick with FSU?

It does put a strain on the relationship, the bruised egos and all. I hope the ACC fracture heals well.

I forgot the conference broke their qb’s leg and exposed their lack of depth at the position.

(01-22-2024 03:50 PM)Garrettabc Wrote:  So what "trade secrets" did FSU reveal and how did revealing these secrets cause the ACC damages?

The fact that ESPN has to agree to re-sign up the ACC in 2025 was a pretty significant leak.

I've had a chance to touch base with a few lawyers in the Florida State community. They're feeling optimistic that we could see settlement discussions soon.

They note the recent ACC action is defensive. It's mostly about keeping the conference's ESPN agreements away from Florida's freedom-of-information laws.

A legally significant difference exists between a true 'trade secret' and just 'stuff my client doesn't want people to know.'

A contract with a media company like ESPN or Raycom does not normally meet the legal definition of a 'trade secret.' A trade secret is typically an intellectual property (IP) like, say, a technological innovation being developed for patent.

(01-23-2024 03:35 AM)Gitanole Wrote:  I've had a chance to touch base with a few lawyers in the Florida State community. They're feeling optimistic that we could see settlement discussions soon.

They note the recent ACC action is defensive. It's mostly about keeping the conference's ESPN agreements away from Florida's freedom-of-information laws.

A legally significant difference exists between a true 'trade secret' and just 'stuff my client doesn't want people to know.'

A contract with a media company like ESPN or Raycom does not normally meet the legal definition of a 'trade secret.' A trade secret is typically an intellectual property (IP) like, say, a technological innovation being developed for patent.

This is why some observing lawyers feel the ACC is doing a fine job on its own of displaying for the court its non-standard approach to contract law.

This brings us to another term we are hearing bandied about: 'fiduciary duty.'

The ACC, in entering a contract to negotiate for member schools, becomes a fiduciary and the schools become principals.

These terms mean that a position of trust is understood to exist. Principals become vulnerable by placing their trust in a fiduciary, so the legal concept of 'fiduciary duty' exists to protect them. The fiduciary has a duty not to take advantage of this trust relationship by acting in certain ways.

The prohibitions fall under two main categories:

No Profit
No Conflict of Interest

As a strictly hypothetical example: Imagine that ACC schools were disadvantaged in media negotiations because ACC officials were simultaneously working to keep some outside business endeavour afloat. That could qualify as a breach of fiduciary duty via Conflict of Interest.

Questions start to come up when the fiduciary has divided loyalties. Did ACC schools lose income they would otherwise have made because an outside business was being propped up? Were ACC schools asked to commit to unusually long contracts because it was good for the schools, or because it was helpful to that business? And so on.

(01-23-2024 04:42 AM)Gitanole Wrote:  

(01-23-2024 03:35 AM)Gitanole Wrote:  I've had a chance to touch base with a few lawyers in the Florida State community. They're feeling optimistic that we could see settlement discussions soon.

They note the recent ACC action is defensive. It's mostly about keeping the conference's ESPN agreements away from Florida's freedom-of-information laws.

A legally significant difference exists between a true 'trade secret' and just 'stuff my client doesn't want people to know.'

A contract with a media company like ESPN or Raycom does not normally meet the legal definition of a 'trade secret.' A trade secret is typically an intellectual property (IP) like, say, a technological innovation being developed for patent.

This is why some observing lawyers feel the ACC is doing a fine job on its own of displaying for the court its non-standard approach to contract law.

This brings us to another term we are hearing bandied about: 'fiduciary duty.'

The ACC, in entering a contract to negotiate for member schools, becomes a fiduciary and the schools become principals.

These terms mean that a position of trust is understood to exist. Principals become vulnerable by placing their trust in a fiduciary, so the legal concept of 'fiduciary duty' exists to protect them. The fiduciary has a duty not to take advantage of this trust relationship by acting in certain ways.

The prohibitions fall under two main categories:

No Profit
No Conflict of Interest

As a strictly hypothetical example: Imagine if it were to be shown that, say, ACC schools were disadvantaged in media negotiations with ESPN because ACC officials were also working to keep some outside business viable. That could qualify as a breach of fiduciary duty via Conflict of Interest.

Questions start to come up when the fiduciary has divided loyalties. Did ACC schools lose income they could have made because an outside business was being propped up? Were ACC schools asked to commit to unusually long contracts because this was really determined to be good for the schools, or because it was good for the longevity of that business? And so on.

Quoting yourself is so Bourgeoisie.

(01-23-2024 04:42 AM)Gitanole Wrote:  

(01-23-2024 03:35 AM)Gitanole Wrote:  I've had a chance to touch base with a few lawyers in the Florida State community. They're feeling optimistic that we could see settlement discussions soon.

They note the recent ACC action is defensive. It's mostly about keeping the conference's ESPN agreements away from Florida's freedom-of-information laws.

A legally significant difference exists between a true 'trade secret' and just 'stuff my client doesn't want people to know.'

A contract with a media company like ESPN or Raycom does not normally meet the legal definition of a 'trade secret.' A trade secret is typically an intellectual property (IP) like, say, a technological innovation being developed for patent.

This is why some observing lawyers feel the ACC is doing a fine job on its own of displaying for the court its non-standard approach to contract law.

This brings us to another term we are hearing bandied about: 'fiduciary duty.'

The ACC, in entering a contract to negotiate for member schools, becomes a fiduciary and the schools become principals.

These terms mean that a position of trust is understood to exist. Principals become vulnerable by placing their trust in a fiduciary, so the legal concept of 'fiduciary duty' exists to protect them. The fiduciary has a duty not to take advantage of this trust relationship by acting in certain ways.

The prohibitions fall under two main categories:

No Profit
No Conflict of Interest

As a strictly hypothetical example: Imagine that ACC schools were disadvantaged in media negotiations because ACC officials were simultaneously working to keep some outside business endeavour afloat. That could qualify as a breach of fiduciary duty via Conflict of Interest.

Questions start to come up when the fiduciary has divided loyalties. Did ACC schools lose income they would otherwise have made because an outside business was being propped up? Were ACC schools asked to commit to unusually long contracts because it was good for the schools, or because it was helpful to that business? And so on.

So... FSU is going to try to make this about Raycom?

(01-23-2024 05:34 AM)Hokie Mark Wrote:  

(01-23-2024 04:42 AM)Gitanole Wrote:  

(01-23-2024 03:35 AM)Gitanole Wrote:  I've had a chance to touch base with a few lawyers in the Florida State community. They're feeling optimistic that we could see settlement discussions soon.

They note the recent ACC action is defensive. It's mostly about keeping the conference's ESPN agreements away from Florida's freedom-of-information laws.

A legally significant difference exists between a true 'trade secret' and just 'stuff my client doesn't want people to know.'

A contract with a media company like ESPN or Raycom does not normally meet the legal definition of a 'trade secret.' A trade secret is typically an intellectual property (IP) like, say, a technological innovation being developed for patent.

This is why some observing lawyers feel the ACC is doing a fine job on its own of displaying for the court its non-standard approach to contract law.

This brings us to another term we are hearing bandied about: 'fiduciary duty.'

The ACC, in entering a contract to negotiate for member schools, becomes a fiduciary and the schools become principals.

These terms mean that a position of trust is understood to exist. Principals become vulnerable by placing their trust in a fiduciary, so the legal concept of 'fiduciary duty' exists to protect them. The fiduciary has a duty not to take advantage of this trust relationship by acting in certain ways.

The prohibitions fall under two main categories:

No Profit
No Conflict of Interest

As a strictly hypothetical example: Imagine that ACC schools were disadvantaged in media negotiations because ACC officials were simultaneously working to keep some outside business endeavour afloat. That could qualify as a breach of fiduciary duty via Conflict of Interest.

Questions start to come up when the fiduciary has divided loyalties. Did ACC schools lose income they would otherwise have made because an outside business was being propped up? Were ACC schools asked to commit to unusually long contracts because it was good for the schools, or because it was helpful to that business? And so on.

So... FSU is going to try to make this about Raycom?

I offered a hypothetical example to illustrate how fiduciary duty works.