The amount of money is relative, right? I mean $2m isn't a lot to most P-5 schools but to some G-5 and especially FCS schools it may could be 50% or more of their entire athletic budget.
Anyway, people are discussing this and lawyers are on deck.
Big Ten football: MAC schools, others lose millions in guarantee games
Anchor Drop: Lawsuits Are Coming
Lawsuits Are Coming: Oh, you think you can just get out of a guarantee game like that?
I think getting rid of OOC football games is very much in line with the thinking in basketball to start on January 1 with just conference games. I heard a segment on local radio about it, and here is the thinking: a majority of the pre-conference schedule is "buy" games. Big schools need home games, and they need to sell a season ticket package. They pay small schools to sell that package. Now that fans are probably out, what's the point in paying schools for those games right now? That's on top of these small schools having different policies in place for testing, travel, arrangements, etc. Why risk your 5 star player testing positive after playing a G5 team when you can't control what that team does?
If you just play conference games, all of the teams are under the same policies, travel guidelines, arrangements, etc. As far as the money for these contracts, I fully expected the P5 schools to reach out and offer some monetary settlement. It won't be the full amount because the P5 can't play the game, but they can certainly pay something if they are going to proceed with a conference schedule. Maybe this is all semantics. It IS all about money, but the health risks are inherent in keeping kids healthy to play the games and make the money.