Sprint and LightSquaredWell, if there's a silver lining for LightSquared in the debacle that has been its attempt to launch a nationwide LTE network, it's that it should be getting a $65 million check from Sprint if everything collapses. The former WiMAX champion and LTE convert may have to return the cash it received as part of a 15 year agreement if the FCC doesn't approve the 4G venture by a March deadline. There is still a chance for an appeal of the commission's decision to reject LightSquared's bid to build an LTE network. But, with the company's inability to solve its vexing GPS issues and increasingly desperate looking maneuvers, we wouldn't be surprised if the check was already in the mail.

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Sprint may have dug itself a $65 million hole with LightSquared partnership