For both you and
@JeddTheFisch , I don't think we would win in a pure contract situation (not involving termination of the conference itself) because I do not think that the TV money, non-FMV though it may be, is so low that you could argue an inability to do business (such as, our costs exceed the revenue, no matter what we do).
The problem is that there are two aspects to this. Simply on the issue of what ESPN pays, compared to what we "need" to stay on par with the Big 10 and SEC, the arguments would be that we thought the money was good on Day 1, we have brought nothing "new" to the table in terms of new schools/markets, and that our ratings do not evidence a need to gratuitiously raise the payouts just because someone else is getting paid more.
The second aspect is the Grant of Rights. The GOR is a mechanism that provides stability to not only the conference (it dissuades members from defecting), but also for the TV network (the group of schools/markets that they originally contracted to broadcast remains stable, and you don't "lose" Clemson and then get East Carolina as a "replacement"); it is the GOR which FINALLY induced ESPN to help us launch the ACC Network.
The TV deal, by itself, may not fit the definition of so "onerous" that it allows us to get out early. Unlike the Bally deal, the ESPN checks are coming through on time. The GOR might be able to be attacked based on its length, but what will hurt us here (and in other aspects of the case) are that our GOR isn't even the longest, as the Big 12 has a 99 year deal to stick together. But the notable differences are that that the Big 12 has a "2-year out" from the GOR, where you only forfeit two years worth of revenue, not "twelve more years".
I think the only possible compromise(s) involve killing the ACC, killing the GOR, and figuring out a way to let ESPN get back into the Big 10 broadcasting game. If any of those things don't happen, I can't see a more "polite" approach like attacking the TV contract itself or the GOR itself as having any real chance of succeeding.