AP Source: Big East football keeps $100m in split

[RMoore1999]

finally I can use this gif (even if it's not as good as getting a Rutgers annual payday)

I've challenged your previous arguments that Herbst's glowing public commentary trumpeting the big east and the new schools was designed to help drive up the nbc/espn TV contract in some way. Its seems more plausible the comments were designed to achieve this distribution of exit fees/NCAA credits. If she ultimately banks a wire from aresco for anywhere near $30M, and then is still running the ship when we pay an exit fee of $1.5M to join the ACC leftovers or something B1Gger in a year to three, I'll be the first to donate a sum (doubling my JC tribute contribution) to the fund supporting a commissioning of her statute...

 

[HuskyHawk]

If any of this money goes to anything except the football program and the basketball facility, UConn will have sorely misused its funds.

How about towards running the athletic department and keeping the lights on? We'll need it.

 

[housekeys]

Why are we sharing this money with the incoming schools, at all?

Well these schools agreed to be part of a conference called the BE. There is obviously equity in the name. All of sudden, they will be part of a conference without that name. My guess, this is compensation for what is essentially a "bait and switch", from their point of view.

 

[RMoore1999]

i mean imagine this
1) JC goes on the road and gets 20mil form the bball crew. a select few thats pocket change to...we are fully funded for the bball facility and other stuff in that project. we build the bball facilty for 2014 fall ready.
2) in 2014 we move all bball games to hartford and give that arena 10 more years of existance. thats 40-50 games in bball. play all puck games there also.
3)announce plans to study a on campus stadium and infrastructure the whole deal. throw out a couple bs drawings of possible stuff
4) rip the bubble off gampel and steel bean the top for a 4-5kish puck rink. very cheap/easy to do compared to building a barn.
5) when thats done move puck on campus full time
6)its 2015/16 and we are now in the acc or b10 or our cr situation is all set.
7) its 2018. do not sell the naming rights to the rent. instea dsell the rights and the whole place to the mls for 75mil. give them a ct gurantee that not other pro sports will be in the state. the rules are they can not expand it for 15 years(if they ever would anyway...) and that the state is going to build that amll and cap all around it...uconn has the right to rent the field form the mls team for fall games until its stadium is finished in 2020. we literally rent the rent for 2 years. its a nice going away party.
8) build hihways from hartford to storrs and other key ones up. super 7 type things. build a 60k on campus stadium. open it in 2020. cost 150mil.
9)anounce at midnight madness that year a 15k arena going into storrs for both bball programs. no puck to be played in it so the seating and setip is 100% bball focus making it a great place. its built soon, by 2025 at the latest. bball leaves hartford for good.
10) knock down the xl and lite the ruble on fire. let every uconn fan act like a terrorist. give us stick form the uconn forrest so that we can walk up to the fire and beat it to show how much we hated the xl. anger on anger ='s beating something already bad with a stick.

Actually, this is pretty plausible, but of course for #8, and that of course, is a deal killer to any fantasy of an on-campus football stadium.

 

[geohusky]

http://collegefootball.ap.org/article/ap-source-big-east-football-keeps-100m-split

"The person spoke to The Associated Press on condition of anonymity because the separation agreement has not yet been finalized. That is likely to happen by the end of the week. The football schools will receive approximately $100 million under the agreement, most of which will go to holdover members Connecticut, South Florida and Cincinnati."

This is good as long as the gov doesn't grab it for the general fund

 

[Adios]

This is a win-win for everyone. Let the story of the Big East ride off into the sunset. What a great conference that has been. Legendary. In football too. Everyone knows it.

Looks reasonable to me. We should have a little fun in this new conference for a bit. In the end, we are a desirable athletic department and school.

 

[jostar1]

Someone posted this comment to Blaudschun's story, so I guess we'll have to wait and see.

Shorestang
March 5, 2013 - 2:50 pm | Permalink

I spoke to an SMU attendee at the Atlanta meeting when I read this, expressing my outrage if it were true. He assures me it is complete nonsense, a total fabrication. There will be no 20 to 1 preference for USF, UConn and Cincy; not even close. That kind of split between old and new schools was not even discussed in Atlanta. If that type of split did occur, UH and SMU would be in the Mountain West Conference in a heartbeat and UConn, Cincy and USF would be sucking more wind than they think they are now. This report is complete fiction.

 

[Fishy]

March 5, 2013 - 2:50 pm | Permalink

I spoke to an SMU attendee at the Atlanta meeting when I read this, expressing my outrage if it were true. He assures me it is complete nonsense, a total fabrication. There will be no 20 to 1 preference for USF, UConn and Cincy; not even close. That kind of split between old and new schools was not even discussed in Atlanta. If that type of split did occur, UH and SMU would be in the Mountain West Conference in a heartbeat and UConn, Cincy and USF would be sucking more wind than they think they are now. This report is complete fiction.

Let them call the Mountain West and tell them that they're ready to join.

It will be a short conversation.

 

[upstater]

Some figures:

BE TV contract: $2 million per
CUSA TV Contract with Memphis, Houston, SMU, ECU and Tulane in the conference: $400k
$2 million per school in BCS autobid money next year
$1 million doled out per school per these reports
Notre Dame and Rutgers haven't paid their exit fees yet, could be upward of $15-20 million
NCAA credits from this year's tourney won't be paid out to the departers

The way I see it, these schools are in for a $7 million one-time bonanza that they otherwise would not have.
$1.6 million yearly in additional TV money

 

[UConnDan97]

Some figures:

BE TV contract: $2 million per
CUSA TV Contract with Memphis, Houston, SMU, ECU and Tulane in the conference: $400k
$2 million per school in BCS autobid money next year
$1 million doled out per school per these reports
Notre Dame and Rutgers haven't paid their exit fees yet, could be upward of $15-20 million
NCAA credits from this year's tourney won't be paid out to the departers

The way I see it, these schools are in for a $7 million one-time bonanza that they otherwise would not have.
$1.6 million yearly in additional TV money

This! Absolutely this.

And if they'd like to try their hand at the Mountain West and the craptastic tv contract they have (thanks to Boise State for taking half of all the MW's stuff), then have fun. They are going to make out better in this conference with our current contract, believe it or not...

 

[junglehusky]

This is a win-win for everyone. Let the story of the Big East ride off into the sunset. What a great conference that has been. Legendary. In football too. Everyone knows it.

 

[junglehusky]

I've challenged your previous arguments that Herbst's glowing public commentary trumpeting the big east and the new schools was designed to help drive up the nbc/espn TV contract in some way. Its seems more plausible the comments were designed to achieve this distribution of exit fees/NCAA credits. If she ultimately banks a wire from aresco for anywhere near $30M, and then is still running the ship when we pay an exit fee of $1.5M to join the ACC leftovers or something B1Gger in a year to three, I'll be the first to donate a sum (doubling my JC tribute contribution) to the fund supporting a commissioning of her statute...

I may have been talking about the TV contract earlier, more recently I've been talking about Herbst trying to drum up attendance figures, but it's the same speech by her for either reason. Anyway, the payout is worth fighting for since there's at least a chance we'll be stuck here a a couple years or more. You know, gotta keep the lights on and the assistant coaches paid.

 

[mcs333]

Remember the NCAA credits that are currently owed the BE is 110M that will be paid out over the next 6 yrs. will be interesting to here how the credits that are earned this year and will begin to be paid out next year for 6 years are distributed. We will not be getting 30m up front. The money is not there for that.

 

[Adios]

Cocaine is not a hallucinogenic.

 

[huskymedic]

Someone posted this comment to Blaudschun's story, so I guess we'll have to wait and see.

Shorestang
March 5, 2013 - 2:50 pm | Permalink

I spoke to an SMU attendee at the Atlanta meeting when I read this, expressing my outrage if it were true. He assures me it is complete nonsense, a total fabrication. There will be no 20 to 1 preference for USF, UConn and Cincy; not even close. That kind of split between old and new schools was not even discussed in Atlanta. If that type of split did occur, UH and SMU would be in the Mountain West Conference in a heartbeat and UConn, Cincy and USF would be sucking more wind than they think they are now. This report is complete fiction.

 

[upstater]

Remember the NCAA credits that are currently owed the BE is 110M that will be paid out over the next 6 yrs. will be interesting to here how the credits that are earned this year and will begin to be paid out next year for 6 years are distributed. We will not be getting 30m up front. The money is not there for that.

I don't think this is correct. I think effectively that money goes to the 3 schools now because the others have relinquished it. The NCAA doles out money over a 6 year span, but that's money that will come into the conference and will be shared by all the schools.

 

[HuskyHawk]

I don't think this is correct. I think effectively that money goes to the 3 schools now because the others have relinquished it. The NCAA doles out money over a 6 year span, but that's money that will come into the conference and will be shared by all the schools.

Standard procedure with other conferences has apparently been to reduce the share of the NCAA credit money to new members. SEC, ACC, Big12, B1G all do this. Since those schools were not in the league when it was earned, they take a reduced percentage. I think the story I saw said that with the ACC for example, new members are up to 100% after about four years. There is no way that the new members of our conference could expect anything different.

 

[upstater]

Standard procedure with other conferences has apparently been to reduce the share of the NCAA credit money to new members. SEC, ACC, Big12, B1G all do this. Since those schools were not in the league when it was earned, they take a reduced percentage. I think the story I saw said that with the ACC for example, new members are up to 100% after about four years. There is no way that the new members of our conference could expect anything different.

But this is an entirely different case. The league is effectively dissolved with 3 members. The pot of money is in the coffers already. This isn't future money that the NCAA doles out. That future money will be split in any way the conference decides. The pot of money in this discussion, however, is entirely different.

 

[HuskyHawk]

But this is an entirely different case. The league is effectively dissolved with 3 members. The pot of money is in the coffers already. This isn't future money that the NCAA doles out. That future money will be split in any way the conference decides. The pot of money in this discussion, however, is entirely different.

The pot of money is the exit fee money mostly. The credits are doled out over time. I think UConn, USF and Cinci can take all the existing money if they want, since they are the only voting members. They might leave some crumbs for the newcomers, but why should they get exit fees? Those are designed to compensate the remaining programs for the damages caused by the departures. The new schools haven't been damaged, they are getting an upgrade.

 

[mcs333]

Every team will split the 29m this year of credits, and Ville and Rut will get their share next year. What is unknown is wether this years credit, s/b around 16 is my best guess, who will keep them. These credits will be paid out beginning next yr. for 6 years.

 

[upstater]

The pot of money is the exit fee money mostly. The credits are doled out over time. I think UConn, USF and Cinci can take all the existing money if they want, since they are the only voting members. They might leave some crumbs for the newcomers, but why should they get exit fees? Those are designed to compensate the remaining programs for the damages caused by the departures. The new schools haven't been damaged, they are getting an upgrade.

Not sure where we crossed our lines but I never said the new schools should get any of the money.

 

[upstater]

Every team will split the 29m this year of credits, and Ville and Rut will get their share next year. What is unknown is wether this years credit, s/b around 16 is my best guess, who will keep them. These credits will be paid out beginning next yr. for 6 years.

Per the BE bylaws, you forfeit credits once you announce your intent to depart.

This rule does not apply to the 7 Catholics because they are contractually allowed to leave as a group with their share of credits. However, they elected to forgo most of them in order to leave this year.

 

[mcs333]

You forfeit future credits. You receive your current year distribution. All 15 schools are current members and will receive a distribution this year in April. They will leave the BE on July 1.

 

[Brochacho]

So since I'm dumb and too stupid to figure this all out, UConn/Cincy/USF each get 30 million. Big East gets 15 million. C7 get 1.5 each. So that is the 100+ million. But does that include the exit fees for Cuse, Pitt, ND, etc? I assume those will be broken up between all the schools of the new conference?