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Old 11-17-2012, 04:48 PM   #15
alnorth alnorth is offline
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Quote:
Originally Posted by mnchiefsguy View Post
Seems like a very costly move for Maryland now that it will cost them 50 million. They should have jumped ship before the exits fees were raised.

Long term it might benefit them, but it might take a decade or even longer to make back that huge exit fee.
That fee is extremely unlikely to hold up in court, especially since Maryland voted against it, and then acted to get out before the year was even over.

A liquidated damages clause still has to be reasonable and not punitive. The $50MM fee is comically excessive and is obviously not intended (as it legally must) to compensate the conference.
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