Gives a good breakdown on what grant of rights are, how they started, and some of the loopholes FSU and Clemson are trying to use to get out of theirs. Clemson's arguments are certainly creative.
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College sports, realignment and the origin of the grant of rights
In the ACC, a grant-of-rights agreement appears to hold the key to future realignment. It has been highly secretive and much argued over. What exactly is it, and where did it start?