$30 Million Withdrawal Fee?!? Also a prohibition on playing P5 football? | Page 2 | The Boneyard

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

The Viking said:
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
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This is gold
 
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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1) Again, our TV money will end up more than $4m. There is a very, very good chance we get money for our T3s. Plus we will certainly have something for a football deal.
2) The new AAC deal has us producing our own content for a number of games in a number of sports. This isn't cheap. Real payout is a flat almost $7m until 2032 minus these costs.
3) The buyout drops to $15m by the time the P5 move would come (which it almost certainly will not).
4) We will force up any amount of money to join a P5 if there's an offer at any time because we will then be in the "haves" in college athletics until they cease to exist.
 
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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This post is brain dead I'm not explaining this again.
 
Smh. A lot of smart posters are dead wrong about this. So blind in their support of one option over the other, they can no longer see the obvious.

UConn Forever
 
.-.
polycom said:
This post is brain dead I'm not explaining this again.
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I had to break out the old calculator but he’s right... the math checks out.

0392A68B-1417-4573-AD69-A1DE0768F37A.jpeg
 
polycom said:
This post is brain dead I'm not explaining this again.
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You’ve explained nothing other than you can regurgitate the pablum fed to you. Simply agreeing to not join a P5 in football tells any person with a modicum of intelligence that UConn is dumping football. It’s a totally gratuitous provision that serves no interests other than Tom Ritter’s backside. No right thinking person interested in salvaging football would cut that lifeline, no matter how remote. God you are dense.
 
adimeback.com

Meghan Goes Full Lawyer on the Big East Contract - A Dime Back

It’s official! The Board of Trustees has voted and UConn has signed the contract to join the Big East. I’ve done a quick initial perusal of the agreement, and here are the highlights: UConn will pay $3.5M to join the Big East. The university will not be entitled to any tournament shares earned...
adimeback.com adimeback.com

We keep Tier 3 and the buyout drops over time.
 
BlueDogs said:
You’ve explained nothing other than you can regurgitate the pablum fed to you. Simply agreeing to not join a P5 in football tells any person with a modicum of intelligence that UConn is dumping football. It’s a totally gratuitous provision that serves no interests other than Tom Ritter’s backside. No right thinking person interested in salvaging football would cut that lifeline, no matter how remote. God you are dense.
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I’m dense and you’re stupid, I’d rather be dense, at least my brain still works.
 
whaler11 said:
he loves penny hardaway and is grieving. thoughts and prayers.
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I was going to rock the 80's and make a Keith Lee and Baskerville Holmes reference, but in verifying B.H. played for State I see that he died in 1997. I also see Dana Kirk passed in 2010.
Keith Lee forever!
 
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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Good Point.
 
.-.
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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Oh my god
 
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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Look I'm not a huge fan of the move, but let's evaluate it honestly. The $7M per school under the new AAC deal is at the end of the term, not the start. The length of the deal is a nightmare and it is going to be a hugely under market at the end of it. But even if the $7M were a real number currently, it is a gross number, not a net one. We have to pay our own production costs. In addition, we'd have to build the infrastructure for are won production costs. We'd lose the ability to have local coverage of are T3 games. That is a big loss to us.

The current NBE deal is probably roughly equal to the AAC deal on a net basis. We will augment it by selling our T3 rights. Bottom line is that we come out ahead in the NBE. The argument is whether it is worth gutting football for that.
 
CL82 said:
Look I'm not a huge fan of the move, but let's evaluate it honestly. The $7M per school under the new AAC deal is at the end of the term, not the start. The length of the deal is a nightmare and it is going to be a hugely under market at the end of it. But even if the $7M were a real number currently, it is a gross number, not a net one. We have to pay our own production costs. In addition, we'd have to build the infrastructure for are won production costs. We'd lose the ability to have local coverage of are T3 games. That is a big loss to us.

The current NBE deal is probably roughly equal to the AAC deal on a net basis. We will augment it by selling our T3 rights. Bottom line is that we come out ahead in the NBE. The argument is whether it is worth gutting football for that.
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The argument is whether it is worth gutting both basketball programs and football to be in a southern mid-major league for less money when all 3 programs would be better off post move.
 
jostar1 said:
[B]Patrick Eaton-Robb[/B]‏Verified account @[B]peatonrobb[/B] 17h17 hours ago
More

Just FYI...this is the line item for team travel UConn reported to NCAA for FY2018 Team Travel: football: $1,151,379, mensbball: $1,606,775, women's bball: $1,116,920, other sports: $3,444,967. Total: $7,320,041

Patrick Eaton-Robb
Verified account
@peatonrobb
news/sports reporter for AP. Dad and husband
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$7M for travel another $4M (I think, it's been awhile since I looked) for the XL, more money for the Rent, fix the way scholarships are accounted for, pull out the student rec charges out of the AD budget, and drop one administration position and we at break even.
 
Also saw this post by a Syracuse fan on CSNbbs :

Orangefan:

The Tier 3 deal with SNY signed around 2012 was "more than $1 million per year," so your number is a good one.
https://www.courant.com/sports/uconn-hus...story.html

The projected payout for NCAA tournament credits next year is around $800,000/school for the AAC and $1.7 million/school for the Big East, so that's another $900,000. The AAC's payout is propped up significantly by UConn's 2014 championship and Louisville's strong tournament run that year, so that number is likely to drop in the future.

UConn's attendance in basketball it's final year in the Big East, 2012-13, was 10,728 per game. In 2018-19 it was 8,652, which was actually a big increase over 7,829 in 2017-18. 2,000 additional fans per game would represent more than $600,000 per season in revenue to the program at the lowest available season ticket price.

According to their Form 990's, the Big East generated $5.2 million in revenue from its conference championships in 2016-17, while the AAC generated $3.2 million. That's an increase to UConn of around $200,000 per year, not to mention the fundraising opportunity created by requiring certain donation levels to purchase BET tickets.

These items by themselves make up for the loss of AAC TV money, and it still doesn't factor in travel related cost savings and any amount of revenue they can get for their TV rights for football.
 
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Further confirmation that UConn will not be leaving the Big East for a very long time. Odds are now far better that there will be no football than the school departs the BE.
 
The exit fee for departing the AAC may be higher than $10M. That is the figure for leaving with 27 months notice. UConn plans to depart the league in about a year (start of 2020-21 season). Louisville left the AAC with less than 27 months notice and paid $11M back in 2013 per negotiations.
 
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born yesterday, but still old enough to remember when sports talk was more 'can she nail the 3's?' or 'does he stuff the run?' or 'can he throw out baserunners?' all this accountant and lawyer talk is just soooo boring. a little 'steel cage death match action' featuring lawyers and accountants? now, that's entertainment.
 
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