$30 Million Withdrawal Fee?!? Also a prohibition on playing P5 football? | The Boneyard

$30 Million Withdrawal Fee?!? Also a prohibition on playing P5 football?

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ScottVib

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Well.. I guess the school certainly was convinced that football doesn't belong or have any shot at a more substantial conference.

If UConn decides to leave the Big East, it will have to pay a hefty fee. The terms of the contract state that UConn will be responsible for paying the conference $30 million if it withdraws within the first six years of membership. If the school bails within a three-year period after that, $15 million is owed. After 10 years, UConn would owe $10 million. A withdrawal fee can be split up into four payments, if necessary.
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More contractual language taking aim at the football program.

“Such program could, as it has in the past, create a misalignment of interests with the other members,” the contract reads. “...a future withdrawal by the university, whether to realign its football program with the basketball and other programs it is moving into the conference or otherwise, could cause unique harm and substantial damage to the conference, the amount of which cannot be calculated with precision.”

The deal also prevents UConn from participating in a Power 5 conference in football.
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UConn also has until 2022 to execute the move, guessing that's in-case they get held up by the AAC or any legal action.

Courant Article
 
ScottVib said:
Well.. I guess the school certainly was convinced that football doesn't belong or have any shot at a more substantial conference.



More contractual language taking aim at the football program.



UConn also has until 2022 to execute the move, guessing that's in-case they get held up by the AAC or any legal action.

Courant Article
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What if UConn FB has a winning season this year and beats a decent team in a bowl game. And at least one BB team wins a national championship and the other one can last a while in the playoffs. Could the ACC or B10 scoop us up in 2020?
 
Kind of hard to believe you would have to agree with language that restrictive when you're an added team in a bball league. That's borderline punitive. I think Uconn had the same guy negotiate this that put together the Iranian nuclear deal for Barry.
 
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LoyalFanCT said:
What if UConn FB has a winning season this year and beats a decent team in a bowl game. And at least one BB team wins a national championship and the other one can last a while in the playoffs. Could the ACC or B10 scoop us up in 2020?
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No.
 
don356 said:
Kind of hard to believe you would have to agree with language that restrictive when you're an added team in a bball league. That's borderline punitive. I think Uconn had the same guy negotiate this that put together the Iranian nuclear deal for Barry.
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EXPERIMENT:

If you could take yourselves out of your presentist mindset for just a split second...

Imagine... If someone put those terms in front of you in 2013

(Terms: "30 million to withdraw", bla bla bla)

To join a conference with:

Creighton...
Butler...
Xavier...
C7...

What a crazy world we live in.

I'll be damned. LOL
 
don356 said:
Kind of hard to believe you would have to agree with language that restrictive when you're an added team in a bball league. That's borderline punitive. I think Uconn had the same guy negotiate this that put together the Iranian nuclear deal for Barry.
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or one of the clowns in Miami tonight
This is a joke
I don't care if as some say "Don't worry about it, we'll get it back 1st year in a P5" Why would someone who is practically being begged to join and help a league with it's own issues allow to be played like this? The AAC may suck to some but I am not that desperate to agree to these hostage terms. As far as I'm concerned this is, to some extent, a bailout for Dan Hurley because he realizes how difficult it is to recruit vs the P5s in the AAC - crap, the ones on here with common sense knew that already. It better pay dividends starting tomorrow
 
StunningSteve said:
EXPERIMENT:

If you could take yourselves out of your presentist mindset for just a split second...

Imagine... If someone put those terms in front of you in 2013

(Terms: "30 million to withdraw", bla bla bla)

To join a conference with:

Creighton...
Butler...
Xavier...
C7...

What a crazy world we live in.

I'll be damned. LOL
Expand ...


#butthurt


yeah the exit fee could be eleventy billion.
 
I make the comment about that provision being punitive from the perspective of a non practicing attorney. I guess when i look forward in college sports, if as quite a few predict schools that want to play d1 fball or that equivalent bust off into the top 80 or 100 teams, Uconn is basically screwed? I realize it's theoretical, but if you wanted to be a top tier fball member somewhere, it's pretty safe to assume you won't be able to split bball and fball. I say that because i see the future payouts in fball shrinking. Coming up with 30mm in a shrinking network/media fee market if you want to play both sports could be a mighty tall task. Another dagger in my book to trying to make it work or improve as an independent.

It almost sounds they wanted Uconn to be on the hook for anything the bball schools had to pay to split themselves.
 
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StunningSteve said:
EXPERIMENT:

If you could take yourselves out of your presentist mindset for just a split second...

Imagine... If someone put those terms in front of you in 2013

(Terms: "30 million to withdraw", bla bla bla)

To join a conference with:

Creighton...
Butler...
Xavier...
C7...

What a crazy world we live in.

I'll be damned. LOL
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You are a Spartacus level troll.
 
whaler11 said:
oh god. Spartacus has 50 iq points on this guy.

he’s legitimately hurt that uconn flushed memphis state down the toilet.
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It doesn't make sense who cares about memphis football, really any team in the AAC? These are no bodies we are basketball school.
 
How you let a catholic basketball conference dictate terms like this to a state university is insanity, unless you really don’t care or beyond incompetent. Who the hell negotiated this pile of garbage? Ok, so here’s the deal.... you get paid $4 Million a year but if you leave you owe us $30. FFFFFFUUUU. My god the incompetence is overwhelming.
 
polycom said:
It doesn't make sense who cares about memphis football, really any team in the AAC? These are no bodies we are basketball school.
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he loves penny hardaway and is grieving. thoughts and prayers.
 
BlueDogs said:
How you let a catholic basketball conference dictate terms like this to a state university is insanity, unless you really don’t care or beyond incompetent. Who the hell negotiated this pile of garbage? Ok, so here’s the deal.... you get paid $4 Million a year but if you leave you owe us $30. FFFFFFUUUU. My god the incompetence is overwhelming.
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This is horrible math. Let's try this again if we leave the Big East on our own, we will be going to a conference that pays us more than the exit fee. If we get kicked out we don't have to pay. The exit fee doesn't matter. What is so hard to understand.
 
.-.
whaler11 said:
he loves penny hardaway and is grieving. thoughts and prayers.
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He'll be able to watch it on ESPN+ I assume he has $5 a month since he wasn't giving it to UConn.
 
gtcam said:
or one of the clowns in Miami tonight
This is a joke
I don't care if as some say "Don't worry about it, we'll get it back 1st year in a P5" Why would someone who is practically being begged to join and help a league with it's own issues allow to be played like this? The AAC may suck to some but I am not that desperate to agree to these hostage terms. As far as I'm concerned this is, to some extent, a bailout for Dan Hurley because he realizes how difficult it is to recruit vs the P5s in the AAC - crap, the ones on here with common sense knew that already. It better pay dividends starting tomorrow
Expand ...
Yes we did this for Dan Hurley. He has an amazing amount of juice.
 
polycom said:
He'll be able to watch it on ESPN+ I assume he has $5 a month since he wasn't giving it to UConn.
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but now memphis state has nobody worth playing. bell cow cinci. enjoy.
 
StunningSteve said:
EXPERIMENT:

If you could take yourselves out of your presentist mindset for just a split second...

Imagine... If someone put those terms in front of you in 2013

(Terms: "30 million to withdraw", bla bla bla)

To join a conference with:

Creighton...
Butler...
Xavier...
C7...

What a crazy world we live in.

I'll be damned. LOL
Expand ...
Now imagine the same scenario but with the the original Big East teams retaining the Big East name and you would be joining a conference named “The Catholic Athletic Conference”...
 
polycom said:
This is horrible math. Let's try this again if we leave the Big East on our own, we will be going to a conference that pays us more than the exit fee. If we get kicked out we don't have to pay. The exit fee doesn't matter. What is so hard to understand.
Expand ...

It's ok as long as the prices schools are getting from networks, etc. are going up. If they go down, not so much.
 
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whaler11 said:
No offense but this crying is embarassing.

If there was an all-sports invite from the ACC or Big Ten, the legislature would pass a special sales tax increase to fund the move.

Hey Soos. There IS NO P5 INVITE
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The crying is just part of the grieving process. Everyone knows the exit fee is irrelevant since a P5 offer is never coming anyway. Where else is everyone gonna go to cry if not here?
 
Us: we want to join you
BE: We want you as well but we love to act tough about being basketball only Why dont you cut football and come back to us
Us: Nah
BE: What if we put in a really big exit fee that makes it look like we are wielding some kind of powerful hammer and will get some BYers fretting.
Us: Hahaha sure go ahead. Just know if we get an invite we are gone.
BE: oh of course. What do ACC teams make in a year, 30 mil? let's use that as a number.
Us: sounds good. see you thursday
 
gtcam said:
or one of the clowns in Miami tonight
This is a joke
I don't care if as some say "Don't worry about it, we'll get it back 1st year in a P5" Why would someone who is practically being begged to join and help a league with it's own issues allow to be played like this? The AAC may suck to some but I am not that desperate to agree to these hostage terms. As far as I'm concerned this is, to some extent, a bailout for Dan Hurley because he realizes how difficult it is to recruit vs the P5s in the AAC - crap, the ones on here with common sense knew that already. It better pay dividends starting tomorrow
Expand ...

Let me guess you didn't try to make a donation to UConn today because you'd know the page crashed. Also, did you try to buy season tickets because they'd tell you call volume has gone up, but of course you trust hot takes from the Boneyard.
 
polycom said:
This is horrible math. Let's try this again if we leave the Big East on our own, we will be going to a conference that pays us more than the exit fee. If we get kicked out we don't have to pay. The exit fee doesn't matter. What is so hard to understand.
Expand ...
This assumes the NBE is doing us some big favor here. We get $4 Million. We would collect I believe 7 under the new screw job, fill my pockets for decade Aresco deal. So, our amazing basketball franchise that people will burn down everything for, commands a whopping 4 Million a year. If you think for a second we are going to waltz into a P5 getting a full share of anything you’re out of your mind. As grotesque as the AAC situation is, at least bowl share dollars would be also coming in and we would likely be eligible for a CFP spot once expansion to 8 occurs. It will cost us $10 Million to bail on the AAC and we net down $3 Million a year. So, it will take 2.5 years at 4 Million just to get back to even and will have lost another $7.5 in lost AAC revenue. Thus deal makes no sense whatsoever unless they plan to kill football. The 30 million guarantees no P5 because we will have strangled any chance of a football program, and there is zero chance a P5 is covering 30 Million. I hate to be cynical but the numbers tell you precisely what is happening, and they are lying through their teeth on football.
 
BlueDogs said:
This assumes the NBE is doing us some big favor here. We get $4 Million. We would collect I believe 7 under the new screw job, fill my pockets for decade Aresco deal. So, our amazing basketball franchise that people will burn down everything for, commands a whopping 4 Million a year. If you think for a second we are going to waltz into a P5 getting a full share of anything you’re out of your mind. As grotesque as the AAC situation is, at least bowl share dollars would be also coming in and we would likely be eligible for a CFP spot once expansion to 8 occurs. It will cost us $10 Million to bail on the AAC and we net down $3 Million a year. So, it will take 2.5 years at 4 Million just to get back to even and will have lost another $7.5 in lost AAC revenue. Thus deal makes no sense whatsoever unless they plan to kill football. The 30 million guarantees no P5 because we will have strangled any chance of a football program, and there is zero chance a P5 is covering 30 Million. I hate to be cynical but the numbers tell you precisely what is happening, and they are lying through their teeth on football.
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log off
 
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