Changing ownership structure won't negate the contract
Courts don't let you move assets from one organization to another in an attempt to get out from a contract.
First, who will "own" the athletic department, and how will it be staffed? Will it be overseen by a person appointed by the university or by an outside group? If it is all the same personnel, then a judge will say that it is an attempt to circumvent the GOR.
Second, how will the athletic departments be named? The Clemson Tigers? Wisconsin Badgers? If they call themselves the same thing, it will be ruled as an attempt to circumvent the GOR. They could try to use the city/town name, but I would think that the Austin Longhorns, LA Trojans, or Ann Arbor Wolverines will have the same level of devotion that each university has.
Third, where will they play? If they are playing at on campus stadiums and arenas, it will be construed as being the University trying to get around the GOR especially if they use other campus facilities like practice fields and buildings.
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In response to this post by VTHokie2000)
Posted: 05/21/2019 at 3:19PM