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Wichita State pays $2.5 million entrance fee to join American conference
Wichita State wired $2.5 million to the American Athletic Conference earlier this week to pay its entrance fee, athletic director Darron Boatright said.
Wichita State will also pay $41,400 annually into the American’s reserve fund for five years, as other conference members did at the time of their membership.
▪ The contract refers to Wichita State as a “Basketball/Olympic Sports-only Member.” WSU is required to maintain its current roster of 15 sports.
▪ Should WSU decide to add football at the Football Bowl Subdivision — a move ruled out in the foreseeable future by university president John Bardo — it will not compete in the American unless approved by conference members. The conference must be notified at least one year in advance should WSU want to add sports to compete in the American other than football.
▪ WSU transfers the ability to represent its media rights to the American on July 1, except for the remainder of the local television package with Cox Kansas. WSU’s contract with Cox Kansas expires after the 2017-18 season.
▪ Wichita State will not share in previous NCAA Tournament basketball revenue earned by conference members.
▪ Wichita State’s share of conference payments from media rights and sponsorship revenues is also limited because it does not sponsor football. In its fourth year of membership, it will receive $250,000 annually, money designed to help WSU recover from losing its share of NCAA Tournament revenue earned as a Missouri Valley Conference school and forfeited by leaving the MVC.
Read more here: Wichita State pays $2.5 million entrance fee to join American conference
Wichita State wired $2.5 million to the American Athletic Conference earlier this week to pay its entrance fee, athletic director Darron Boatright said.
Wichita State will also pay $41,400 annually into the American’s reserve fund for five years, as other conference members did at the time of their membership.
▪ The contract refers to Wichita State as a “Basketball/Olympic Sports-only Member.” WSU is required to maintain its current roster of 15 sports.
▪ Should WSU decide to add football at the Football Bowl Subdivision — a move ruled out in the foreseeable future by university president John Bardo — it will not compete in the American unless approved by conference members. The conference must be notified at least one year in advance should WSU want to add sports to compete in the American other than football.
▪ WSU transfers the ability to represent its media rights to the American on July 1, except for the remainder of the local television package with Cox Kansas. WSU’s contract with Cox Kansas expires after the 2017-18 season.
▪ Wichita State will not share in previous NCAA Tournament basketball revenue earned by conference members.
▪ Wichita State’s share of conference payments from media rights and sponsorship revenues is also limited because it does not sponsor football. In its fourth year of membership, it will receive $250,000 annually, money designed to help WSU recover from losing its share of NCAA Tournament revenue earned as a Missouri Valley Conference school and forfeited by leaving the MVC.
Read more here: Wichita State pays $2.5 million entrance fee to join American conference