This is a fantastic article by David Hale that runs through the GOR. In particular, this part piqued my curiosity:
In reality, the document is far more mundane than the secrecy suggests.
The ACC's grant of rights, which became public as part of court filings in December 2023, is 3½ pages of sparse language outlining the reasons for its existence ("enhances the stability of conference membership," and "confirms the commitment by each member") and the rights conferred (multimedia, copyright). It runs through June 30, 2036, and requires any new members -- Stanford, Cal and SMU were added this summer -- to sign the same agreement.
While the grant of rights is inherently tied to the multimedia rights deal, they are separate documents, and changes to one does not necessarily impact the other.
"It serves all the constituents," said John Wildhack, a former executive at ESPN and now the athletic director at Syracuse. "It provides some certainty for the media company, certainty for the institutions and certainty for the conference."
Some of us have debated whether the GOR exists solely for the ESPN media deal, or if the GOR "terminates" once the ESPN media deal terminates since the documents points back to the ESPN media deal multiple times. The phrase "one does not necessarily impact the other" is interesting, as it sounds like Hale isn't sure himself. The business person in me that reviews contracts all the time seems skeptical the ACC would win in court if ESPN terminated in 2027 that the ACC could legally hold any school "hostage" for 10 more years, or try to substitute an inferior contract (there is no "equal or greater value" language in the GOR) like what the PAC 12 was offered in lieu of the ESPN deal.
We may never find out if ESPN declines their unilateral option, but part of me wants to see the ensuing chaos...so...