$17m early buyout agreement per Blaud

[huskymedic]

 

[tcf15]

$17M should mean that we are in the Big East on July 1, 2020.

 

[mrl2016]

Seems steep no?

 

[polycom]

$17M should mean that we are in the Big East on July 1, 2020.

I'll wait to celebrate until we know this is true for sure. But if it is, it's lit.

 

[Sprague03]

$17M should mean that we are in the Big East on July 1, 2020.

wait, i thought the exit fee was $10mm? how did it jump to $17mm??

 

[aburks41]

I'll wait to celebrate until we know this is true for sure. But if it is, it's lit.

If they were waiting the full 27 months they would only pay $10m. The $17m is because were leaving early in July 2020

 

[FartMan69]

 

[pj]

Seems steep no?

The extra $7 million buys a two year earlier departure. Well worth it, especially since the Big East + SNY revenue less travel costs will exceed the American revenue less travel costs.

Glad they got this done quickly.

 

[Dooooooomed]

Worth every penny.

 

[huskymedic]

 

[polycom]

So basically we leave for $6M over 6 years. What a deal.

 

[aburks41]

So were basically not even paying anything out of pocket lol. Love it

 

[Dooooooomed]

That's actually pretty good.

 

[tcf15]

We're back to the Big East next summer folks: UConn to pay $17 million in AAC exit fee, depart conference next year

 

[Drew]

The conference is said to have sought a much higher exit fee while UConn tried to negotiate something closer to $15 million or below. The sides eventually found a compromise, which involves maintaining an aspect of their partnership because UConn has agreed to schedule four home-and-home basketball series with AAC teams, men’s or women’s. No teams or years have been assigned.

UConn to pay $17 million in AAC exit fee, depart conference next year

UConn will pay the American Athletic Conference a $17 million exit fee in order to leave the conference next summer. The AAC on Friday announced that terms and fees associated with the university&#…

www.courant.com

 

[Guapo]

Happydance.gif

 

[Chief00]

LOL but the two $5 million payments were due us, so we don’t get the normal revenue.
Having said that, we have to establish a narrative ASAP, so let’s see the football plan this summer.

 

[bendm]

UConn has agreed to schedule four home-and-home basketball series with AAC teams, men’s or women’s.

sure would love to play memphis and cincy...great for our future OOC schedule. win-win. give the women the two best women's teams whoever they are

 

[polycom]

LOL but the two $5 million payments were due us, so we don’t get the normal revenue.
Having said that, we have to establish a narrative ASAP, so let’s see the football plan this summer.

What? You owe someone 17M, you either pay them with money they owe you or money already in your pocket. Are you saying you'd rather we pay them with money already in our pockets?

 

[Drew]

LOL but the two $5 million payments were due us, so we don’t get the normal revenue.
Having said that, we have to establish a narrative ASAP, so let’s see the football plan this summer.

“I can confirm that we’re going to be pursuing an FBS, Division I football program,” Benedict said. “We absolutely are committed to being a competitive program and I remain optimistic about our ability to achieve that goal. A lot of that has to do with a lot of conversations that I’ve been having over the past couple weeks with people intimately involved in the process. So I’m excited to move on and really dig in to football now that the exit has been finalized.”

UConn to pay $17 million in AAC exit fee, depart conference next year

UConn will pay the American Athletic Conference a $17 million exit fee in order to leave the conference next summer. The AAC on Friday announced that terms and fees associated with the university&#…

www.courant.com

 

[Wordbomar]

Hilarious that Aresco and AAC fan bases have been touting that they don’t want or need UConn, yet they negotiated H and H’s in basketball as part of their buyout

 

[Dooooooomed]

sure give the men memphis and cincy...great for our future OOC schedule. win-win. give the women the two best women's teams whoever they are

Geno's already said we'll keep playing USF so there's 1 down. 3 to go. Hopefully Memphis/Wichita MBB since both those coaches/ADs voiced their concern in losing UConn.

 

[Excalibur]

What? You owe someone 17M, you either pay them with money they owe you or money already in your pocket. Are you saying you'd rather we pay them with money already in our pockets?

Doesn't much matter how we pay them.

The next few years are going to be very lean, but that's the price of admission . . .

 

[Drew]

 

[McLovin]

“I can confirm that we’re going to be pursuing an FBS, Division I football program,” Benedict said. “We absolutely are committed to being a competitive program and I remain optimistic about our ability to achieve that goal. A lot of that has to do with a lot of conversations that I’ve been having over the past couple weeks with people intimately involved in the process. So I’m excited to move on and really dig in to football now that the exit has been finalized.”

UConn to pay $17 million in AAC exit fee, depart conference next year

UConn will pay the American Athletic Conference a $17 million exit fee in order to leave the conference next summer. The AAC on Friday announced that terms and fees associated with the university&#…

www.courant.com

Thats a lot of words to give no information on football status. Pumped the basketball got accelerated to next summer. The ask for 4 H/H series isn't too steep either. As someone mentioned earlier, we can do it with Cincy and Memphis to help SOS.

 

[TRest]

The conference is said to have sought a much higher exit fee while UConn tried to negotiate something closer to $15 million or below. The sides eventually found a compromise, which involves maintaining an aspect of their partnership because UConn has agreed to schedule four home-and-home basketball series with AAC teams, men’s or women’s. No teams or years have been assigned.

UConn to pay $17 million in AAC exit fee, depart conference next year

UConn will pay the American Athletic Conference a $17 million exit fee in order to leave the conference next summer. The AAC on Friday announced that terms and fees associated with the university&#…

www.courant.com

Hell to the naw.

 

[polycom]

Hell to the naw.

As long as we get to pick the teams it's good...

 

[storrsroars]

I'm enthused. In fact I'm so enthused I'm now expecting a home game vs Auburn.

 

[JMick]

Am I misreading this or did we completely fleece them? Did they hold this past years payment and this upcoming year's, or are we forfeiting this years and next year's payment? Because by next year we'll be receiving big east money to offset that cost, no?

 

[TRest]

As long as we get to pick the teams it's good...

I assume so, but I think we need the hoops programs OOC games as tradeable assets to get some P5 football games. If it's just 4 home and homes total over the next several years, it is doable.