Dunno, if I was Miami and someone wanted to buy out of the football series, I'd be like, "Yeah, sure, if you can find a school to take your place."
And then I'd make K-State bust their a$$ finding a school to take their place on my schedule before I let them out. Sort of like subleasing an apartment. Landlord will prolly let you do it, but you gotta find them the replacement.
That would be pretty hilarious though. K-State admins hitting the phones for months on end trying to line up someone to take their place on the chopping block.