AP Source: Big East football keeps $100m in split

[huskymedic]

http://collegefootball.ap.org/article/ap-source-big-east-football-keeps-100m-split

"The person spoke to The Associated Press on condition of anonymity because the separation agreement has not yet been finalized. That is likely to happen by the end of the week. The football schools will receive approximately $100 million under the agreement, most of which will go to holdover members Connecticut, South Florida and Cincinnati."

 

[RoderickSpode]

So we could be getting the equivalent of one B1G payout? Excellent.

 

[CAHUSKY]

So we could be getting the equivalent of one B1G payout? Excellent.

Better than no B1G payout.

 

[RoderickSpode]

Better than no B1G payout.

I wasn't being sarcastic, I'm actually pretty happy with the news. Any extra dollar at this point is appreciated.

 

[Exit 4]

Now can we use this money to buy into a conference? I'm somewhat serious.

 

[UCFBfan]

Now can we use this money to buy into a conference? I'm somewhat serious.

How about we buy out Tulane and buy in Boise again? Or take the $100 mil and have the three leftover BE schools start their own conference with teams from MWC and a team or two from NBE. A man can dream.....

Sent from my SCH-I535 using Tapatalk 2

 

[specialisthusky]

How about we buy out Tulane and buy in Boise again? Or take the $100 mil and have the three leftover BE schools start their own conference with teams from MWC and a team or two from NBE. A man can dream.....

Sent from my SCH-I535 using Tapatalk 2

Ya know I wish this was possible. A redo would be great.
"Hold down" the northeast with uconn and temple
Ucf and usf in Florida
Smu and Houston in Texas
Boise and sdsu out west
Plus cinci and I guess Memphis.

10 team league hits most recruiting grounds. No one sucking at the teet. It would have been fine. Effng tulane man.[/quote]

 

[upstater]

Keep the money and win.

 

[brasssbonanzaa]

Ballpark of $30M for the C7 to leave early and ND probably? OK.

 

[Dann]

it cost ucf 50mil to build a 45k stadium. im sure we wont do anything good with this $....

 

[upstater]

Ballpark of $30M for the C7 to leave early and ND probably? OK.

No, it has nothing to do with ND. ND needs to pay up ASAP. That's more money to come. Rutgers hasn't paid up either.

 

[upstater]

http://ajerseyguy.com/?p=5471#comment-19267

Jerseyguy says Catholics folded under Fox pressure.

 

[CTHUSKY74]

My question is when this money comes to UCONN and are there any conditions to keeping it? If we leave in a year are we forgoing any of this cash?

 

[UConnSportsGuy]

My question is when this money comes to UCONN and are there any conditions to keeping it? If we leave in a year are we forgoing any of this cash?

I believe that we would just be subject to the previously established $5MM exit fee and the required 27-month waiting period (subject to reduction with negotiations).

 

[upstater]

My question is when this money comes to UCONN and are there any conditions to keeping it? If we leave in a year are we forgoing any of this cash?

No, they won't forgo. They only have to pay exit fees. The 3 have the voting rights to take the stash now. So they voted. They took the stash.

Uconn would only have to pay an exit fee. Because of the smaller TV contract, the exit fee will be reduced in the new conference, as per the bylaws. So, UConn would pay about $2.5m if they leave after 2 years, $5-10m after 1, and a huge sum ($15m?) if they left immediately. They would also forego NCAA tourney credits and probably the $2m from the BCS autobid.

 

[upstater]

I believe that we would just be subject to the previously established $5MM exit fee and the required 27-month waiting period (subject to reduction with negotiations).

Actually, there's a by law that reads the exit fee will be reduced substantially in case there is a reduction in the TV contract.

 

[huskyjawz]

Why are we sharing this money with the incoming schools, at all?

 

[junglehusky]

finally I can use this gif (even if it's not as good as getting a Rutgers annual payday)

 

[huskymedic]

Why are we sharing this money with the incoming schools, at all?

Housewarming gift...

 

[RS9999X]

You know you sukk when you have to pay Tulane, ECU and SMU to join your conference.

Holdover members Connecticut, Cincinnati and South Florida will get the biggest share, but the new football members -- Central Florida, Houston, SMU, Memphis, Temple, East Carolina, Tulane and Navy -- also will receive a share of the $100 million in exit fees to help compensate for the lower-than-expected worth of the media rights deal

 

[SubbaBub]

Now can we use this money to buy into a conference? I'm somewhat serious.

Cash envelopes are exactly how the big boys do it.

Sent from my MB860 using Tapatalk 2

 

[Phoenixhusky]

We share the money with incoming school to make up for the smaller tv contract we got.

 

[partial]

It will depend a lot on how much the other schools get. But it would be a nice if we made out like bandits. Given our recent track record however and this seemingly(?) bit of good fortune I'm officially putting out an evacuation notice out on Storrs CT cause a giant asteroid is headed that way.

 

[RS9999X]

If it turns out that UConn walks away with $48 million over the next 6 years between the Women and Men sports media contracts and exit fees then that's about the best I expected back when $110 million was offered for 12 football and 6 basketball in the first 6 years of the contract.

Even the highest estimate of $10 million average over 12 years would have paid only $50 million during the first 6 years under the usual 6% yearly step starting at $7.2 million and rising to $13.7 mil in the final year (year 12) and $9.7 mil in year 6.

If its under $17 mil includng the NCAA distributions then its pretty much a sukker deal with Tulane the big winner.

 

[DarthGrumpy]

If this is true, UConn needs to spend this money ASAP to strengthen the athletic program.
Set some money aside as ‘seed’ money ($10 million) to a future addition/renovation to the Rent to show that UConn is serious about football. Sorry, as much as I want an on-campus football stadium, it would cost hundreds of millions just to build the infrastructure needed to handle a 75K stadium in Storrs. Considering the current economic environment in CT, that is not going to happen. The Huskies could even use a million to help lure a big-time non-conference game once a year to Hartford or MetLife in NYC or Gillette in Foxborough ($1 million per year for 3 years, total of $3 million). While UConn is in the Bend-Over League, national visibility is the key to our salvation.
Make a good size down payment to the basketball practice facility to show recruits and the TV gods that UConn is still a top 10 program in men’s and women’s basketball regardless what conference the Huskies call home for the short-term ($5 million).
I would also use the money to kick-start the upgrade of the baseball, softball, and soccer facilities on campus to get them on-par with our ACC and B1G counterparts ($1 million each, total $3 million).
Lastly, as much as I believe it maybe impossible due to political reasons, bring back UConn basketball (and hockey) to Storrs full-time outside of maybe a game a year at MSG or some other high-profile location. Let Hartford figure out its own needs for the XL. The balance ($12 million) can be used to conduct an engineering study and begin construction of a renovated and expanded Gample Pavilion aiming for 12K seats, including some money generating boxes, and a separate hockey arena with a capacity of around 6K attached to Freitas. If it proves impossible to expand Gample, go with a 12K basketball/hockey arena where Gample stands today or maybe as part of an entertainment complex within the Storrs Center project.
With not as good as $12 million per year from the ACC or $20 million per year from the B1G, this money (and UConn should get a greater share for being the only original member of the Big E left and for carrying Big E hoops on its shoulders over the last decade) can help define UConn going forward. Use the opportunity.