Big 12 schools face economic impact of shuffling - ESPN
There is a reason schools like Iowa State, Kansas State and Missouri are holding their ground in the A&M/SEC affair -- or at the very least approaching it with trepidation. The television deal that the Big 12 signed with Fox Sports Media Group for an estimated $90 million over a 13-year period beginning in 2012 allowed schools to begin major on-campus projects. The Big 12 still had three years remaining on a deal with ESPN/ABC, too.
Iowa State went ahead with projects after the Fox contract was completed and took out $40 million in bonds based on the deal. Iowa State has invested $5 million in a new video board, $20 million in a football building and an estimated $15 million in a sports complex for track, soccer and softball. The video board project began in July for this football season and the other two projects are under construction.
"The taxpayers of Iowa can't pay if those bonds fall through," a source said Wednesday. "These are real questions, real situations. I'm not sure how (Iowa State) could waive those (legal) rights (to sue the SEC)."
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