Word: franchisee
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Dates: during 1980-1989
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The final critical change came in 1916 when the University allowed holders of all Harvard degrees to vote in overseers elections. Previously, only graduates of the College and a few of the professional schools were granted the franchise.
One of the major constraints placed on the Young Committee promises to be the necessity of obtaining the approval of the state legislature for any major policy decisions. Because the overseers were established by the Commonwealth in 1642, large modifications such as extension of the franchise to more alumni, require...
Although only Carter joined his present franchise via the free-agent route, the eight others--along with other players of their caliber--are paid such high salaries to preventthem from seeking free-agency.
These examples illustrate the ways a franchise can afford to keep its stars happy, without taking large chunks out of its pocketbook or salary cap each year.
One of the more outrageous contracts was Steve young's $40 million deal with the Los Angeles Express of the USFL. The contract would have run for 40 years--just enough time for $1 million to grow to $43 million at the interest rates of the time. Therefore, if the...