The peculiar paths which Novell has followed cease to amaze. It seems as though everything is possible. As a lead developer from the Wine project said immediately after the deal had been made, it is expected (yet arguably so) that Novell will inherit SCO's role. Whether it will also inherit SCO UNIX is something that remains to be seen. Have a look at this:

Novell is going to take back ownership of System V UNIX. It supposedly transferred this to SCO, but a Federal Judge found that the contracts had more holes than paper. Novell has leave to contest the agreements, and if SCO goes belly-up while the matter is in debate, Novell's there to snatch up a very valuable property.

This speculation comes from Tom Yager. He is an Apple advocate/journalist whom I have always perceived as Linux-hostile. He once authored an article titled "Linux will get buried". By all means, he makes the statement above with real confidence. It seems like a victim that grabs a criminal's weapon. I certainly hope that Novell is not turning into its own enemy in the same way that an abused child, much to his/her misfortune, soon resembles his/her parents as he/she matures.