BE & Pitt agree on exit

[B1GEast]

PROVIDENCE, R.I.—The Big East Conference and the University of Pittsburgh announced today that both organizations have reached an agreement on Pittsburgh’s departure from the Big East and move to the Atlantic Coast Conference (ACC). Under the terms of the agreement reached between the Big East and Pittsburgh, Big East members will vote, in accordance with the Big East’s bylaws, to terminate Pittsburgh’s membership in the Big East effective July 1, 2013, at which point Pittsburgh will join the ACC. In addition to other consideration, Pittsburgh will make a total cash payment to the Big East of $7.5 million, which includes the $5 million withdrawal fee under the Big East Bylaws applicable at the time Pittsburgh gave notice of withdrawal.


“This is another step for the Big East to take toward a very exciting future. With the addition of our eight new members, the Big East will be incredibly strong and vibrant,” said Joe Bailey, Interim Commissioner of the Big East.


Steve Pederson, Athletic Director for the University of Pittsburgh said: “We have appreciated and enjoyed our membership in the Big East and wish them much success in the future. We are anxious to compete in our final season in the Big East and look forward to an exciting future in the Atlantic Coast Conference.”

 

[BlueMAB]

Pitt and Saracuse too.

 

[huskymedic]

On a roll today... I wonder about timing or if the BE lawyers are just looking to take the rest of the summer vacation off in Newport!

BE dropped lawsuit against TCU as well.

http://collegefootballtalk.nbcsports.com/2012/07/18/big-east-drops-its-lawsuit-against-tcu/

 

[TRest]

Can't say I will miss Pitt in any way. For some reason playing them never did much for me.

 

[sportsart]

Can't say I will miss Pitt in any way. For some reason playing them never did much for me.

More often than not we could count on a W when we played Pitt and Syracuse. I'll miss that.

 

[UConn9604]

More often than not we could count on a W when we played Pitt and Syracuse. I'll miss that.

You're right. If my math is accurate, I think we're 6-2 against Syracuse (4-0 at The Rent) and 4-4 against Pitt.

That first 2004 night game against Pitt is still one of my favorite home games of all time. It was our first night ESPN game, the field sparkled, and the student section sounded like it was a basketball game. Tyler Palko couldn't hear himself think.

 

[Chin Diesel]

Speaking of math. $20m from WVU, $7.5m each from Pitt and SU and $5m from TCU.

That's $40m to divide up between the schools left in the Big East. I'm a curious bystander as to how that money gets spent/invested.

 

[huskymedic]

Speaking of math. $20m from WVU, $7.5m each from Pitt and SU and $5m from TCU.

That's $40m to divide up between the schools left in the Big East. I'm a curious bystander as to how that money gets spent/invested.

Hope they squirrel a million or so away to rebuild the Conference Executive Leadership and quickly!

 

[UCFBfan]

Speaking of math. $20m from WVU, $7.5m each from Pitt and SU and $5m from TCU.

That's $40m to divide up between the schools left in the Big East. I'm a curious bystander as to how that money gets spent/invested.

I'd rather see them use that money to lure a quality Commish who will lead this league to promanance instead of our current interim commish.

Sent from my DROIDX using Tapatalk 2

 

[UConn76]

Speaking of math. $20m from WVU, $7.5m each from Pitt and SU and $5m from TCU.

That's $40m to divide up between the schools left in the Big East. I'm a curious bystander as to how that money gets spent/invested.

This seems to be a better business model money wise for the NBE. Forget that bowl tie-in!