Ledley's agent David Baldwin returns from a business trip to South America next week and hopes to meet with Ridsdale personally as both parties hope for a resolution tothecontract impasse.
Liquidated damages are set to an amount theparties designate during the formation of acontract for an injured party to collect as compensation upon a specific breach of the agreement.
Since all thepartiesto these contracts would like to tailor thecontract terms to optimize their profits or minimize their costs, they have a tremendous need to customize the billing and compensation for each relationship.
Both sides agreed a media blackout during the talks, but released a joint statement saying "parties... remain committed to reaching a mutually agreeable contract".
There is acontract between ESPN and the NCAA. It is entirely legal to require any third parties like advertisers to comply with standards established in an NCAA-ESPN agreement.