Colorado wants out of the Big 12 ASAP and they're currently in negotiations with the league to leave in 2011 rather than 2012. The only problem is that Colorado is broke. Dead-ass broke. So broke that they couldn't afford Dan Hawkins' buyout after his 4th consecutive losing season in Boulder.
If they can't afford to pay 3 million to Dan Hawkins to start him on his second career as a Landmark Forum Seminar Instructor - you have to do the work in here (points at heart), and here (points at head), so no more bathroom breaks until you people start GETTING REAL with each other - how exactly does Colorado propose absorbing the loss of a 10 million dollar revenue withhold from the Big 12 as part of their penalty for being realignment sluts?
Colorado AD Mike Bohn believes that there is a considerable amount of ambiguity in the ironclad Big 12 league contract which states in Section V, Article 3a, line 4 (and I'm paraphrasing):
If Colorado goes to the Pac 10, we get all of their shit.
I'm not a lawyer (though Farmer Ted is), but that's really specific language. Ipso facto indomitus a la biblioteca, IMO.
Does Colorado have any fungible assets that one could turn around quickly to raise some money and keep the lights on? Aside from tickets to a Phish concert, a lacrosse stick, and a copy of High Times magazine with Seth Rogen on the cover?