and WTF is up with the B1G in instituting this 5 year wait before we receive full shares, who the fuct does that help ! It makes us the whippin boy and practice game for the elitist of the league.....shame on them.
The reason Rutgers is receiving less money for the first 5 years is that Rutgers is buying in to their share of the Big 10 network.
Nebraska had to do the same thing.
Forget football for a minute and think of it this way:
A group of 13 attorneys/accountants/engineers are looking to add a partner who has a specialty (expertise in the New York market) which is not held by one of the existing partners.
They interview and offer to hire attorney/accountant/engineer Rutgers, a New York expert, who agrees to a salary of $300,000 per year based on projected incomes from a variety of sources.
However, during negotiations, it is disclosed that the group owns their building and there will be a requirement for the new guy, Rutgers, to buy into his share of ownership of the building as part of the employment requirements. The building is worth $4,500,000 and there are 15 shares as one share is centralized by a management agency (Big 10). To get the job, our friend Rutgers needs to 'buys in'. The buy in is $4,500,000 / 15, or $300,000. Problem becomes that Rutgers does not have an extra $300,000 laying around, but because the original group of 13 want him in; and he wants in, the partners say "OK, we'll finance it. Instead of getting $300,000, we will give you $240,000 per year and the other $60,000 per year will pay off your share of the equity in the building. Then, after five years, you will own a 1/15 interest in the building which is gaining value and equity every day.
Are you OK with that?
Rutgers has a choice. He can stay in his current job at $95,000 per year or he can agree to the terms of the group of 13 and jump to $240,000 per year and an equity share in a growing investment.
Rutgers thinks about this for a short nano second, says YES and away we go.
The BIG is not instituting a five year wait. It is self financing your purchase of a 1/15 share of the Big 10's ownership interest in the Big 10 network.
Also, I note that I am aware that the BIG owns only a part of the Big 10 network.