AAC holding $5 million UConn conference distribution payment in escrow as part of exit fee

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AAC holding $5 million UConn conference distribution payment in escrow as part of exit fee

>>As UConn finalizes its departure from the American Athletic Conference, the league is holding about $5 million in escrow to help cover the school’s exit fee, a UConn spokesman said Friday.

That $5 million represents a large portion of UConn’s 2019 conference revenue, which includes money from the league’s TV deal, bowl payouts and the NCAA basketball fund.<<
 
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soooo $5 mill down $5 mill to go??

anyone care to put percentages on which year we'll actually be gone from the aac?

20-21: 90%?
21-22: 10%?
22-23: 0%?

how much more than the 10 is the aac gonna try to squeeze so we can leave next year...
 
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AAC holding $5 million UConn conference distribution payment in escrow as part of exit fee

>>As UConn finalizes its departure from the American Athletic Conference, the league is holding about $5 million in escrow to help cover the school’s exit fee, a UConn spokesman said Friday.

That $5 million represents a large portion of UConn’s 2019 conference revenue, which includes money from the league’s TV deal, bowl payouts and the NCAA basketball fund.<<
Who said Uconn had to pre pay? Uconn doesn't exit for another year, until then it's Uconn's money. No way this stands
 
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It’ll stand... ACC did the same to Maryland. Big East did the same to Rutgers.
The $5 million held by the AAC could stand as UConn, according to the Courant, had to pay $2.5 million upon notice of withdrawal. Rutgers paid $2.5 million upon notice and the AAC withheld $2.5 million of conference funds from Rutgers. So the total was $5 million. The AAC tried to withhold a $1.5 million payout from the Pinstripe Bowl, but ultimately the AAC paid it. The AAC wanted $15 million from Rutgers, but ultimately the exit fee was $11.5 million. Of course, the it fees resulted in litigation!
 
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Who said Uconn had to pre pay? Uconn doesn't exit for another year, until then it's Uconn's money. No way this stands
That's what I was thinking when I read this. They can't legally hold the money back, can they? Unless it's in the AAC bylaws, of course.
 
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MattMang23

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So we are on the books having paid them about $7.5M of the 12 or so mill now. At this pace, can we just exit next week?
 
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yeah but it's more if we leave before the 27 month notice period
It's also likely less if the commissioner has said publicly that you're not welcome for 15 of the 27 months. It'll be negotiated.
 
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I assume there’s a provision for this in the by-laws. Otherwise UConnwould have a legitimate claim that the AAC broke the contract.
 

MattMang23

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It seems Mik6 Ar6sco (not mad) is going on a nationwide tour of podcasts and radio shows to spread the jolly good cheer that the conference is doing fine and that it is united and strong. Then he says stuff like “UConn hasn’t been doing much lately anyway” and “UConn leaving doesn’t affect us one bit” in an effort to convince himself that losing his biggest brand is just no big deal.

I can’t think of another time when the Big East or AAC lost a team and they told everyone that it didn’t matter. Maybe Rutgers? Everyone acknowledged losing Louisville, WVU, Pitt, Cuse, etc. was difficult.

It’s garbage rhetoric like this that make AAC Twitter (not mad) keep attacking with its garbage about UConn. I can’t stand anyone in this damn league.
 
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Who said Uconn had to pre pay? Uconn doesn't exit for another year, until then it's Uconn's money. No way this stands
Standard practice. It actually works for both parties. They don’t need to pay us we don’t need to send them money
 
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It seems Mik6 Ar6sco (not mad) is going on a nationwide tour of podcasts and radio shows to spread the jolly good cheer that the conference is doing fine and that it is united and strong. Then he says stuff like “UConn hasn’t been doing much lately anyway” and “UConn leaving doesn’t affect us one bit” in an effort to convince himself that losing his biggest brand is just no big deal.

I can’t think of another time when the Big East or AAC lost a team and they told everyone that it didn’t matter. Maybe Rutgers? Everyone acknowledged losing Louisville, WVU, Pitt, Cuse, etc. was difficult.

It’s garbage rhetoric like this that make AAC Twitter (not mad) keep attacking with its garbage about UConn. I can’t stand anyone in this damn league.
Except his biggest brand actually hasn’t been doing much lately. We are kind of like an Old Timers Day team. A few people might come to see them but everyone knows they can’t actually play any more. Most people really want the real teams to play.
 
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