Cheeks,
Actually I am a business owner in Houston. In the fast pace world of college football realignment there are back room deals made just like in my business. Deals are made long before formal contracts are drawn up. There is some faith and trust involved.
Loftin says the deal will be renegotiated as early as Spring of 2011. That means revenue increases a full year earlier than any of the other scenarios.
This was a back room deal but for legal reasons they cannot come out and say it that bluntly.
I have faith in Loftin/Byrne, and grudgingly I have faith in Powers/Dodds, and Boren/Castiglione.
The details in the contract may change slightly but the general framework will remain.
It benefits Fox to renegotiate the deal sooner rather than later because they risk another hungry network swooping in and offering more and then they loose out. Plus if they wait two years the Big 12-2 will likely demand more money at that time. Fox would like to sew this up sooner rather than later.