I will take this down to the scale of the average person.
You have been a very good business owner for about 8 years. The 9th year roles around and you just signed a HUGE contract with another company that will GUARANTEE you X amount of money over the next 10 or so years. All of the business owners, including yourself, got big time raises that were guaranteed in a contractual agreement.
You get happy and go out and buy a new car, because you've been driving around a POS car for 20 years. You also make a couple of household improvements that needed to be done. (new deck, new couch, and new flat screen tv) You do these things in the comfort knowing that your monthly paychecks will be X times bigger and guaranteed for the next 10 years.
Now, all of a sudden, the contract you just signed with that company is breached and that money is no longer guaranteed. You may even end up losing your entire job.
That is possibly happening to ISU on a much larger scale.
Why do you think Baylor, ISU and a couple other schools have not waived their rights to Sue A&M and the SEC? A lot of money was guaranteed and inked in writing, and now it might not be there.