Ravenwood - 06/06/03 11:30 AM
When I first read that Big East schools were suing to keep the conference together, I thought it just a bogus attempt to try to convince Miami, BC, and Syracuse to stay. I figured why try to force people to stay, when they don't want to? After reading into it, however, it looks like the Big East schools have a pretty valid legal argument. As CNNSI points out, several of the schools invested large sums of money on improvements, based on promises from Boston College and Miami that they would stay in the conference.
Anyone who knows anything about contract law, knows that consideration makes an enforceable promise. Consideration, is when one party gives up legal rights based on the promise of a second party. For instance, if I offer to pay you ten dollars to mow my lawn, and you accept. That is an unenforceable promise. I could revoke the offer, up until you get your lawn mower out and start mowing. Once you start mowing, you've given consideration, and I am legally bound to give you that ten dollars, should you complete your end of the deal.
In this case, it would appear that BC and Miami made a promise to stay in the Big East Conference. Based on that promise, Virginia Tech, UConn, and other schools made substantial financial investments, which Miami and BC could be liable for. VT spent $37 Million on stadium construction, and UConn has spent about $90 Million. Although they are receiving assets in return for their investment, it could be argued that BC and Miami's broken promise has caused serious and irreparable depreciation to those assets. Basically, they could be held liable if they leave.
Of course, don't believe me. After all, I sort of have a vested interest.
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