Winter Classic contract details
It is no surprise that a decision about the Winter Classic is expected this this week, if you scan the contract the league entered into with the University of Michigan.
Dollars and cents: The NHL contracted use of the Big House for $3 million. The first payment of $100,000 was delivered when they signed the contract on Feb. 8.
The rest of the payment plan called for $250,000 to be paid on Nov. 2; $1,000,000 on Dec. 7; $1,000,000 on Dec. 28; and $650,000 on Jan. 18, 2013.
Cancellation policy: Aside from the league owing more money on Friday, Nov. 2 is a benchmark for canceling the event and not owing the university any more money.
“If cancellation occurs prior to and including November 2, 2012, to retain the $100,000 initial consideration payment.
“If cancellation occurs on November 3, 2012 or later, to retain the initial consideration payment and obtain reimbursement for all documented and actual out-of-pocket expenses reasonably incurred by the University in connection with the cancelled Event prior to cancellation.”