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

[junglehusky]

This is a win-win for everyone. Let the story of the Big East ride off into the sunset. What a great conference that has been. Legendary. In football too. Everyone knows it.

 

[junglehusky]

I've challenged your previous arguments that Herbst's glowing public commentary trumpeting the big east and the new schools was designed to help drive up the nbc/espn TV contract in some way. Its seems more plausible the comments were designed to achieve this distribution of exit fees/NCAA credits. If she ultimately banks a wire from aresco for anywhere near $30M, and then is still running the ship when we pay an exit fee of $1.5M to join the ACC leftovers or something B1Gger in a year to three, I'll be the first to donate a sum (doubling my JC tribute contribution) to the fund supporting a commissioning of her statute...

I may have been talking about the TV contract earlier, more recently I've been talking about Herbst trying to drum up attendance figures, but it's the same speech by her for either reason. Anyway, the payout is worth fighting for since there's at least a chance we'll be stuck here a a couple years or more. You know, gotta keep the lights on and the assistant coaches paid.

 

[mcs333]

Remember the NCAA credits that are currently owed the BE is 110M that will be paid out over the next 6 yrs. will be interesting to here how the credits that are earned this year and will begin to be paid out next year for 6 years are distributed. We will not be getting 30m up front. The money is not there for that.

 

[Adios]

Cocaine is not a hallucinogenic.

 

[huskymedic]

Someone posted this comment to Blaudschun's story, so I guess we'll have to wait and see.

Shorestang
March 5, 2013 - 2:50 pm | Permalink

I spoke to an SMU attendee at the Atlanta meeting when I read this, expressing my outrage if it were true. He assures me it is complete nonsense, a total fabrication. There will be no 20 to 1 preference for USF, UConn and Cincy; not even close. That kind of split between old and new schools was not even discussed in Atlanta. If that type of split did occur, UH and SMU would be in the Mountain West Conference in a heartbeat and UConn, Cincy and USF would be sucking more wind than they think they are now. This report is complete fiction.

 

[upstater]

Remember the NCAA credits that are currently owed the BE is 110M that will be paid out over the next 6 yrs. will be interesting to here how the credits that are earned this year and will begin to be paid out next year for 6 years are distributed. We will not be getting 30m up front. The money is not there for that.

I don't think this is correct. I think effectively that money goes to the 3 schools now because the others have relinquished it. The NCAA doles out money over a 6 year span, but that's money that will come into the conference and will be shared by all the schools.

 

[HuskyHawk]

I don't think this is correct. I think effectively that money goes to the 3 schools now because the others have relinquished it. The NCAA doles out money over a 6 year span, but that's money that will come into the conference and will be shared by all the schools.

Standard procedure with other conferences has apparently been to reduce the share of the NCAA credit money to new members. SEC, ACC, Big12, B1G all do this. Since those schools were not in the league when it was earned, they take a reduced percentage. I think the story I saw said that with the ACC for example, new members are up to 100% after about four years. There is no way that the new members of our conference could expect anything different.

 

[upstater]

Standard procedure with other conferences has apparently been to reduce the share of the NCAA credit money to new members. SEC, ACC, Big12, B1G all do this. Since those schools were not in the league when it was earned, they take a reduced percentage. I think the story I saw said that with the ACC for example, new members are up to 100% after about four years. There is no way that the new members of our conference could expect anything different.

But this is an entirely different case. The league is effectively dissolved with 3 members. The pot of money is in the coffers already. This isn't future money that the NCAA doles out. That future money will be split in any way the conference decides. The pot of money in this discussion, however, is entirely different.

 

[HuskyHawk]

But this is an entirely different case. The league is effectively dissolved with 3 members. The pot of money is in the coffers already. This isn't future money that the NCAA doles out. That future money will be split in any way the conference decides. The pot of money in this discussion, however, is entirely different.

The pot of money is the exit fee money mostly. The credits are doled out over time. I think UConn, USF and Cinci can take all the existing money if they want, since they are the only voting members. They might leave some crumbs for the newcomers, but why should they get exit fees? Those are designed to compensate the remaining programs for the damages caused by the departures. The new schools haven't been damaged, they are getting an upgrade.

 

[mcs333]

Every team will split the 29m this year of credits, and Ville and Rut will get their share next year. What is unknown is wether this years credit, s/b around 16 is my best guess, who will keep them. These credits will be paid out beginning next yr. for 6 years.

 

[upstater]

The pot of money is the exit fee money mostly. The credits are doled out over time. I think UConn, USF and Cinci can take all the existing money if they want, since they are the only voting members. They might leave some crumbs for the newcomers, but why should they get exit fees? Those are designed to compensate the remaining programs for the damages caused by the departures. The new schools haven't been damaged, they are getting an upgrade.

Not sure where we crossed our lines but I never said the new schools should get any of the money.

 

[upstater]

Every team will split the 29m this year of credits, and Ville and Rut will get their share next year. What is unknown is wether this years credit, s/b around 16 is my best guess, who will keep them. These credits will be paid out beginning next yr. for 6 years.

Per the BE bylaws, you forfeit credits once you announce your intent to depart.

This rule does not apply to the 7 Catholics because they are contractually allowed to leave as a group with their share of credits. However, they elected to forgo most of them in order to leave this year.

 

[mcs333]

You forfeit future credits. You receive your current year distribution. All 15 schools are current members and will receive a distribution this year in April. They will leave the BE on July 1.

 

[Brochacho]

So since I'm dumb and too stupid to figure this all out, UConn/Cincy/USF each get 30 million. Big East gets 15 million. C7 get 1.5 each. So that is the 100+ million. But does that include the exit fees for Cuse, Pitt, ND, etc? I assume those will be broken up between all the schools of the new conference?