[Mick]

USC and Michigan are threatening to leave the Big 10 conference because the B10 is considering a $2.4 billion private equity investment paid by the California Pension Fund over 20 years. The Big 10 would sell off part of the new corporate enterprise.

Michigan hates it because they believe it is an unnecessary "payday loan" that would bail out poorly financed schools. USC hates it because they would receive less up front as a new school.

All other Big 10 schools support it. If USC and Michigan don't agree, they lose access to the capital and risk their future with the conference beyond 2036. 

Two Schools Are Reportedly Considering Leaving The Big Ten

Also, Michigan State football received a three year penalty and 14 wins have been vacated:

Michigan State placed on 3-year probation, 14 wins vacated

[Mick]

USC and Michigan are threatening to leave the Big 10 conference because the B10 is considering a $2.4 billion private equity investment paid by the California Pension Fund over 20 years. The Big 10 would sell off part of the new corporate enterprise.

Michigan hates it because they believe it is an unnecessary "payday loan" that would bail out poorly financed schools. USC hates it because they would receive less up front as a new school.

All other Big 10 schools support it. If USC and Michigan don't agree, they lose access to the capital and risk their future with the conference beyond 2036. 

Two Schools Are Reportedly Considering Leaving The Big Ten

Also, Michigan State football received a three year penalty and 14 wins have been vacated:

Michigan State placed on 3-year probation, 14 wins vacated

[martyup]

I find the Michigan State penalties pretty harsh for recruiting violations in a time when players are being poached away from teams with cash offers.  Apparently, three Spartan players were given free airline tickets and meals during their recruitments.

[martyup]

I find the Michigan State penalties pretty harsh for recruiting violations in a time when players are being poached away from teams with cash offers.  Apparently, three Spartan players were given free airline tickets and meals during their recruitments.

[Maple Leaf]

u$c = all about $$$, would be more than happy if in the end u$c is no longer in the B10 and is begging the Bevs and the Cougs to let them join the Pac 12.

[Maple Leaf]

u$c = all about $$$, would be more than happy if in the end u$c is no longer in the B10 and is begging the Bevs and the Cougs to let them join the Pac 12.

[82lsju]

u$c = all about $$$, would be more than happy if in the end u$c is no longer in the B10 and is begging the Bevs and the Cougs to let them join the Pac 12.

then they would demand 80% of the total Pac-12 TV money since they think they are the only real attraction......

[82lsju]

u$c = all about $$$, would be more than happy if in the end u$c is no longer in the B10 and is begging the Bevs and the Cougs to let them join the Pac 12.

then they would demand 80% of the total Pac-12 TV money since they think they are the only real attraction......

[BostonCard]

I’ll adapt Gregg Easterbrook’s old adage about weasel coaches (“When you hire a coach who's only in it for himself, you get a coach who's only in it for himself”) to conference expansion:

When you expand to your conference to add a school that is only in it for itself, you get a school who’s only in it for itself

That being said, I kind of agree with Michigan and USC here.  You are basically robbing your future recurring income to get an injection up front.  It’s one thing if you use it as a capital investment that has returns, but I think most schools are using it for operating expenses.

BC

[BostonCard]

I’ll adapt Gregg Easterbrook’s old adage about weasel coaches (“When you hire a coach who's only in it for himself, you get a coach who's only in it for himself”) to conference expansion:

When you expand to your conference to add a school that is only in it for itself, you get a school who’s only in it for itself

That being said, I kind of agree with Michigan and USC here.  You are basically robbing your future recurring income to get an injection up front.  It’s one thing if you use it as a capital investment that has returns, but I think most schools are using it for operating expenses.

BC

[Giants]

1763071846[/url]']
USC and Michigan are threatening to leave the Big 10 conference because the B10 is considering a $2.4 billion private equity investment paid by the California Pension Fund over 20 years. The Big 10 would sell off part of the new corporate enterprise.

Michigan hates it because they believe it is an unnecessary "payday loan" that would bail out poorly financed schools. USC hates it because they would receive less up front as a new school.

All other Big 10 schools support it. If USC and Michigan don't agree, they lose access to the capital and risk theirfuturewith the conference beyond 2036. 

Two Schools Are Reportedly Considering Leaving The Big Ten

Also, Michigan State football received a three year penalty and 14 wins have been vacated:

Michigan State placed on 3-year probation, 14 wins vacated

Clarification:  It is the UC Pension Fund not CALPERS.

[Giants]

1763071846[/url]']
USC and Michigan are threatening to leave the Big 10 conference because the B10 is considering a $2.4 billion private equity investment paid by the California Pension Fund over 20 years. The Big 10 would sell off part of the new corporate enterprise.

Michigan hates it because they believe it is an unnecessary "payday loan" that would bail out poorly financed schools. USC hates it because they would receive less up front as a new school.

All other Big 10 schools support it. If USC and Michigan don't agree, they lose access to the capital and risk theirfuturewith the conference beyond 2036. 

Two Schools Are Reportedly Considering Leaving The Big Ten

Also, Michigan State football received a three year penalty and 14 wins have been vacated:

Michigan State placed on 3-year probation, 14 wins vacated

Clarification:  It is the UC Pension Fund not CALPERS.

[Papa John]

Further clarification: it's UC Investments, which manages more than the UC Retirement Plan
https://www.ucop.edu/investment-office/index.html

(Not that anyone else on this board should care, unless they work for the UC system like I do)

[Papa John]

Further clarification: it's UC Investments, which manages more than the UC Retirement Plan
https://www.ucop.edu/investment-office/index.html

(Not that anyone else on this board should care, unless they work for the UC system like I do)

[Mick]

1763071846[/url]']
USC and Michigan are threatening to leave the Big 10 conference because the B10 is considering a $2.4 billion private equity investment paid by the California Pension Fund over 20 years. The Big 10 would sell off part of the new corporate enterprise.

Michigan hates it because they believe it is an unnecessary "payday loan" that would bail out poorly financed schools. USC hates it because they would receive less up front as a new school.

All other Big 10 schools support it. If USC and Michigan don't agree, they lose access to the capital and risk theirfuturewith the conference beyond 2036. 

Two Schools Are Reportedly Considering Leaving The Big Ten

Also, Michigan State football received a three year penalty and 14 wins have been vacated:

Michigan State placed on 3-year probation, 14 wins vacated

Clarification:  It is the UC Pension Fund not CALPERS.

Mrs. Mick was a CALPERS member at one time. CALPERS had a few doozy investments over the years; e.g., bubble-era real estate bets ($10 bils. total loss), 71% loss on $468 million clean energy "investment," underperforming timberland investments (sold most at a loss), Enron/JEDI (oops). Given the amount of money the State of California was paying Enron for energy, I'm guessing CALPERS thought it was a great investment.

[Mick]

1763071846[/url]']
USC and Michigan are threatening to leave the Big 10 conference because the B10 is considering a $2.4 billion private equity investment paid by the California Pension Fund over 20 years. The Big 10 would sell off part of the new corporate enterprise.

Michigan hates it because they believe it is an unnecessary "payday loan" that would bail out poorly financed schools. USC hates it because they would receive less up front as a new school.

All other Big 10 schools support it. If USC and Michigan don't agree, they lose access to the capital and risk theirfuturewith the conference beyond 2036. 

Two Schools Are Reportedly Considering Leaving The Big Ten

Also, Michigan State football received a three year penalty and 14 wins have been vacated:

Michigan State placed on 3-year probation, 14 wins vacated

Clarification:  It is the UC Pension Fund not CALPERS.

Mrs. Mick was a CALPERS member at one time. CALPERS had a few doozy investments over the years; e.g., bubble-era real estate bets ($10 bils. total loss), 71% loss on $468 million clean energy "investment," underperforming timberland investments (sold most at a loss), Enron/JEDI (oops). Given the amount of money the State of California was paying Enron for energy, I'm guessing CALPERS thought it was a great investment.

[82lsju]

Further clarification: it's UC Investments, which manages more than the UC Retirement Plan
https://www.ucop.edu/investment-office/index.html

(Not that anyone else on this board should care, unless they work for the UC system like I do)

they are also the recent buyer of Notre Dame in Belmont

https://www.ndnu.edu/notre-dame-de-namur...vestments/

[82lsju]

Further clarification: it's UC Investments, which manages more than the UC Retirement Plan
https://www.ucop.edu/investment-office/index.html

(Not that anyone else on this board should care, unless they work for the UC system like I do)

they are also the recent buyer of Notre Dame in Belmont

https://www.ndnu.edu/notre-dame-de-namur...vestments/

[Maple Leaf]

Some interesting facts on the Big 10/ UC Investments:

Per the Athletic:

The Big Ten believes it does not need unanimous approval to accept an investment. Even if USC and Michigan don’t sign the grant of rights extension, UC Investments is still willing to make a deal, but at a lower valuation than $2.4 billion, according to two people briefed on the discussions. Michigan’s media rights are considered the conference’s second-most valuable asset behind Ohio State’s. The deal calls for a tiered distribution based on a school’s market value, with Michigan, Ohio State, and Penn State in the top tier; those schools would receive well above the average $133 million payout. (USC is in the tier below.)

Here is the link to the article:

https://www.nytimes.com/athletic/6802248...vestments/

I was also surprised to learn that both Michigan and Ohio State athletic departments ran deficits.

Mark Bernstein, chairman of the Michigan board of regents, has compared the UC investment deal to a “payday loan.” Eight different Big Ten schools, including Ohio State, reported athletic department deficits in their 2024 fiscal year financial report.

Michigan athletics balanced its books last year — with the help of $15 million from university funds. The school is also facing a fine that could surpass $30 million as punishment for the Stalions scandal.

[Maple Leaf]

Some interesting facts on the Big 10/ UC Investments:

Per the Athletic:

The Big Ten believes it does not need unanimous approval to accept an investment. Even if USC and Michigan don’t sign the grant of rights extension, UC Investments is still willing to make a deal, but at a lower valuation than $2.4 billion, according to two people briefed on the discussions. Michigan’s media rights are considered the conference’s second-most valuable asset behind Ohio State’s. The deal calls for a tiered distribution based on a school’s market value, with Michigan, Ohio State, and Penn State in the top tier; those schools would receive well above the average $133 million payout. (USC is in the tier below.)

Here is the link to the article:

https://www.nytimes.com/athletic/6802248...vestments/

I was also surprised to learn that both Michigan and Ohio State athletic departments ran deficits.

Mark Bernstein, chairman of the Michigan board of regents, has compared the UC investment deal to a “payday loan.” Eight different Big Ten schools, including Ohio State, reported athletic department deficits in their 2024 fiscal year financial report.

Michigan athletics balanced its books last year — with the help of $15 million from university funds. The school is also facing a fine that could surpass $30 million as punishment for the Stalions scandal.

[Goose]

The investor is putting up a lot of money now for a future revenue stream. There is IMO substantial risk that due to budget shortfalls many of the Big 10 institutions will have to cut their budgets, even with the up-front investment. The various state legislatures may be unwilling to pony up taxpayer dollars to continue competing even at the level Michigan and Ohio State presently can. The "cost of doing business" keeps rising rapidly. The state legislatures may also be unable to do so given state overall budget shortfalls. This constraint would reverse the growth of college football media rights as the "unlimited" funds used for "expansion" become unavailable. It isn't at all far-fetched that the "super conference" comes about simply because there aren't enough schools that can afford to continue competing at the dollars/year required to sustain the existing multi-conference structure. Then the Big Ten media rights value will crater.

[Goose]

The investor is putting up a lot of money now for a future revenue stream. There is IMO substantial risk that due to budget shortfalls many of the Big 10 institutions will have to cut their budgets, even with the up-front investment. The various state legislatures may be unwilling to pony up taxpayer dollars to continue competing even at the level Michigan and Ohio State presently can. The "cost of doing business" keeps rising rapidly. The state legislatures may also be unable to do so given state overall budget shortfalls. This constraint would reverse the growth of college football media rights as the "unlimited" funds used for "expansion" become unavailable. It isn't at all far-fetched that the "super conference" comes about simply because there aren't enough schools that can afford to continue competing at the dollars/year required to sustain the existing multi-conference structure. Then the Big Ten media rights value will crater.

[TooMuchTV]

USC and Michigan are threatening to leave the Big 10 conference because the B10 is considering a $2.4 billion private equity investment paid by the California Pension Fund over 20 years. The Big 10 would sell off part of the new corporate enterprise.

Michigan hates it because they believe it is an unnecessary "payday loan" that would bail out poorly financed schools. USC hates it because they would receive less up front as a new school.

All other Big 10 schools support it. If USC and Michigan don't agree, they lose access to the capital and risk their future with the conference beyond 2036. 

Two Schools Are Reportedly Considering Leaving The Big Ten

Also, Michigan State football received a three year penalty and 14 wins have been vacated:

Michigan State placed on 3-year probation, 14 wins vacated

It just needs to be said. If USC and Michigan were to ever leave the Big Ten, it would be with other top teams to form some other football only "conference" not to strike out on their own. This isn't even good clickbait, and it's "Ten" not "10".

[TooMuchTV]

USC and Michigan are threatening to leave the Big 10 conference because the B10 is considering a $2.4 billion private equity investment paid by the California Pension Fund over 20 years. The Big 10 would sell off part of the new corporate enterprise.

Michigan hates it because they believe it is an unnecessary "payday loan" that would bail out poorly financed schools. USC hates it because they would receive less up front as a new school.

All other Big 10 schools support it. If USC and Michigan don't agree, they lose access to the capital and risk their future with the conference beyond 2036. 

Two Schools Are Reportedly Considering Leaving The Big Ten

Also, Michigan State football received a three year penalty and 14 wins have been vacated:

Michigan State placed on 3-year probation, 14 wins vacated

It just needs to be said. If USC and Michigan were to ever leave the Big Ten, it would be with other top teams to form some other football only "conference" not to strike out on their own. This isn't even good clickbait, and it's "Ten" not "10".

[Giants]

1763151085[/url]']

1763071846[/url]']
USC and Michigan are threatening to leave the Big 10 conference because the B10 is considering a $2.4 billion private equity investment paid by the California Pension Fund over 20 years. The Big 10 would sell off part of the new corporate enterprise.

Michigan hates it because they believe it is an unnecessary "payday loan" that would bail out poorly financed schools. USC hates it because they would receive less up front as a new school.

All other Big 10 schools support it. If USC and Michigan don't agree, they lose access to the capital and risk their future with the conference beyond 2036. 

Two Schools Are Reportedly Considering Leaving The Big Ten

Also, Michigan State football received a three year penalty and 14 wins have been vacated:

Michigan State placed on 3-year probation, 14 wins vacated

It just needs to be said. If USC and Michigan were to ever leave the Big Ten, it would be with other top teams to form some other football only "conference" not to strike out on their own. This isn't even good clickbait, and it's "Ten" not "10".

I can’t see Michigan leaving the conference.  However, I definitely could see USC going independent.  They threatened to do just that on a number of occasions prior to their move to the Midwestern-based conference.  

They are a certainly strong enough program to become a Notre Dame-like presence in the West.  Quite frankly, I would love to see a renewal of the USC-Stanford rivalry.  This could an outcome of a Trojan disassociation from the Big (insert name or number here).

[Giants]

1763151085[/url]']

1763071846[/url]']
USC and Michigan are threatening to leave the Big 10 conference because the B10 is considering a $2.4 billion private equity investment paid by the California Pension Fund over 20 years. The Big 10 would sell off part of the new corporate enterprise.

Michigan hates it because they believe it is an unnecessary "payday loan" that would bail out poorly financed schools. USC hates it because they would receive less up front as a new school.

All other Big 10 schools support it. If USC and Michigan don't agree, they lose access to the capital and risk their future with the conference beyond 2036. 

Two Schools Are Reportedly Considering Leaving The Big Ten

Also, Michigan State football received a three year penalty and 14 wins have been vacated:

Michigan State placed on 3-year probation, 14 wins vacated

It just needs to be said. If USC and Michigan were to ever leave the Big Ten, it would be with other top teams to form some other football only "conference" not to strike out on their own. This isn't even good clickbait, and it's "Ten" not "10".

I can’t see Michigan leaving the conference.  However, I definitely could see USC going independent.  They threatened to do just that on a number of occasions prior to their move to the Midwestern-based conference.  

They are a certainly strong enough program to become a Notre Dame-like presence in the West.  Quite frankly, I would love to see a renewal of the USC-Stanford rivalry.  This could an outcome of a Trojan disassociation from the Big (insert name or number here).

[82lsju]

I can’t see Michigan leaving the conference.  However, I definitely could see USC going independent.  They threatened to do just that on a number of occasions prior to their move to the Midwestern-based conference.  

They are a certainly strong enough program to become a Notre Dame-like presence in the West.  Quite frankly, I would love to see a renewal of the USC-Stanford rivalry.  This could an outcome of a Trojan disassociation from the Big (insert name or number here).

maybe, ND plays 5 ACC teams and usually 1 or 2 Big Ten teams, for the last many years USC and Stanford (which may be going away), 2 body bag games, and 1 or 2 other games (usually 1 is an early season "marquee" game and the other is Navy).  They are picking up Clemson as an annual game so that could replace one of USC/Stanford in their typical schedule.

USC might or might not be able to schedule as well.  Would UCLA, OU, and UW want to play them if they all remain in the Big Ten?  UCLA probably, the other two maybe/maybe not.  Would the other ex-Pac 12 teams want to play them on a regular basis or would the carry a grudge?  WSU and OSU probably since they need some name opponents.  The contingent in the Big 12 might not see much benefit, Cal/Stanford might to try and bolster their home schedules every other year.   If the former Pac-12 teams don't bite their schedule would look pretty lame unless they want to travel as much as they are playing in the Big Ten

[82lsju]

I can’t see Michigan leaving the conference.  However, I definitely could see USC going independent.  They threatened to do just that on a number of occasions prior to their move to the Midwestern-based conference.  

They are a certainly strong enough program to become a Notre Dame-like presence in the West.  Quite frankly, I would love to see a renewal of the USC-Stanford rivalry.  This could an outcome of a Trojan disassociation from the Big (insert name or number here).

maybe, ND plays 5 ACC teams and usually 1 or 2 Big Ten teams, for the last many years USC and Stanford (which may be going away), 2 body bag games, and 1 or 2 other games (usually 1 is an early season "marquee" game and the other is Navy).  They are picking up Clemson as an annual game so that could replace one of USC/Stanford in their typical schedule.

USC might or might not be able to schedule as well.  Would UCLA, OU, and UW want to play them if they all remain in the Big Ten?  UCLA probably, the other two maybe/maybe not.  Would the other ex-Pac 12 teams want to play them on a regular basis or would the carry a grudge?  WSU and OSU probably since they need some name opponents.  The contingent in the Big 12 might not see much benefit, Cal/Stanford might to try and bolster their home schedules every other year.   If the former Pac-12 teams don't bite their schedule would look pretty lame unless they want to travel as much as they are playing in the Big Ten

[Goose]

USC isn't going anywhere, no matter how much they threaten. The entire University is in serious financial trouble. They had a hiring freeze in place well before the federal government went off on the research grants budgets. They also have an "interim" president with the goal of replacing him with a "permanent" hire in July 2026. The previous president announced her retirement in early November of 2024 but stayed on until July of 2025 while a search went on for a new president. None was found, thus the "interim".
 
There is no money to subsidize athletics at the level required to successfully "go independent". Even if a financially viable situation could eventually be created, getting to that point would require at least two years of heavy deficits (and perhaps more).  It is very difficult to imagine USC could get "a better deal" going that way and they don't have the funds to invest in trying.

[Goose]

USC isn't going anywhere, no matter how much they threaten. The entire University is in serious financial trouble. They had a hiring freeze in place well before the federal government went off on the research grants budgets. They also have an "interim" president with the goal of replacing him with a "permanent" hire in July 2026. The previous president announced her retirement in early November of 2024 but stayed on until July of 2025 while a search went on for a new president. None was found, thus the "interim".
 
There is no money to subsidize athletics at the level required to successfully "go independent". Even if a financially viable situation could eventually be created, getting to that point would require at least two years of heavy deficits (and perhaps more).  It is very difficult to imagine USC could get "a better deal" going that way and they don't have the funds to invest in trying.

[Mick]

USC and Michigan are threatening to leave the Big 10 conference because the B10 is considering a $2.4 billion private equity investment paid by the California Pension Fund over 20 years. The Big 10 would sell off part of the new corporate enterprise.

Michigan hates it because they believe it is an unnecessary "payday loan" that would bail out poorly financed schools. USC hates it because they would receive less up front as a new school.

All other Big 10 schools support it. If USC and Michigan don't agree, they lose access to the capital and risk their future with the conference beyond 2036. 

Two Schools Are Reportedly Considering Leaving The Big Ten

Also, Michigan State football received a three year penalty and 14 wins have been vacated:

Michigan State placed on 3-year probation, 14 wins vacated

It just needs to be said. If USC and Michigan were to ever leave the Big Ten, it would be with other top teams to form some other football only "conference" not to strike out on their own. This isn't even good clickbait, and it's "Ten" not "10".

To paraphrase Frazier, you could use a tunneling electron microscope and still not be able to discern my interest in whether it's "Ten" or "10" or "X" or "B10" or anything else...

---

USC isn't going anywhere, no matter how much they threaten. The entire University is in serious financial trouble. They had a hiring freeze in place well before the federal government went off on the research grants budgets. They also have an "interim" president with the goal of replacing him with a "permanent" hire in July 2026. The previous president announced her retirement in early November of 2024 but stayed on until July of 2025 while a search went on for a new president. None was found, thus the "interim".
 
There is no money to subsidize athletics at the level required to successfully "go independent". Even if a financially viable situation could eventually be created, getting to that point would require at least two years of heavy deficits (and perhaps more).  It is very difficult to imagine USC could get "a better deal" going that way and they don't have the funds to invest in trying.

That's for sure. They depend on $1.3 billion in federal funds and are committed to escalating structural deficits. Their operating deficit in 2023-2024 was $158 million. Their bonds are Aa2 (Moody's/Stable) AA (S&P Global/Negative outlook). Cash doubled from $421 mm (fy22) to $847 mm (fy24) thanks to a $500 mm taxable bond in 7/23. They're not broke, but they don't have a lot of wiggle room.

[Mick]

USC and Michigan are threatening to leave the Big 10 conference because the B10 is considering a $2.4 billion private equity investment paid by the California Pension Fund over 20 years. The Big 10 would sell off part of the new corporate enterprise.

Michigan hates it because they believe it is an unnecessary "payday loan" that would bail out poorly financed schools. USC hates it because they would receive less up front as a new school.

All other Big 10 schools support it. If USC and Michigan don't agree, they lose access to the capital and risk their future with the conference beyond 2036. 

Two Schools Are Reportedly Considering Leaving The Big Ten

Also, Michigan State football received a three year penalty and 14 wins have been vacated:

Michigan State placed on 3-year probation, 14 wins vacated

It just needs to be said. If USC and Michigan were to ever leave the Big Ten, it would be with other top teams to form some other football only "conference" not to strike out on their own. This isn't even good clickbait, and it's "Ten" not "10".

To paraphrase Frazier, you could use a tunneling electron microscope and still not be able to discern my interest in whether it's "Ten" or "10" or "X" or "B10" or anything else...

---

USC isn't going anywhere, no matter how much they threaten. The entire University is in serious financial trouble. They had a hiring freeze in place well before the federal government went off on the research grants budgets. They also have an "interim" president with the goal of replacing him with a "permanent" hire in July 2026. The previous president announced her retirement in early November of 2024 but stayed on until July of 2025 while a search went on for a new president. None was found, thus the "interim".
 
There is no money to subsidize athletics at the level required to successfully "go independent". Even if a financially viable situation could eventually be created, getting to that point would require at least two years of heavy deficits (and perhaps more).  It is very difficult to imagine USC could get "a better deal" going that way and they don't have the funds to invest in trying.

That's for sure. They depend on $1.3 billion in federal funds and are committed to escalating structural deficits. Their operating deficit in 2023-2024 was $158 million. Their bonds are Aa2 (Moody's/Stable) AA (S&P Global/Negative outlook). Cash doubled from $421 mm (fy22) to $847 mm (fy24) thanks to a $500 mm taxable bond in 7/23. They're not broke, but they don't have a lot of wiggle room.

[Mick]

Commissioner Pettiti wanted to force through the deal. The UMichigan Regents aren't happy about it. Most of the schools were ready to go, UMichigan pushed back. Pettiti threatened to punish Michigan for it.

USC objects, but because they would get less money than UMich or tOSU.

The Standoff That Brought the Big Ten’s $2.4 Billion Deal to a Screeching Halt

[Mick]

Commissioner Pettiti wanted to force through the deal. The UMichigan Regents aren't happy about it. Most of the schools were ready to go, UMichigan pushed back. Pettiti threatened to punish Michigan for it.

USC objects, but because they would get less money than UMich or tOSU.

The Standoff That Brought the Big Ten’s $2.4 Billion Deal to a Screeching Halt