Big East-Catholic 7 docs note $68.8 million in realignment funds

[huskymedic]

"The Big East and the Catholic 7 basketball schools have much to hash out in their divorce, and among the assets for the conference to protect: A “Realignment Reserve Fund” worth a projected $68.8 million by 2020, documents show."

"Though the documents don't provide answers to the questions, they highlight the Big East's financial intake from the mass departures during the recent waves of conference realignment, including:

• Approximately $18.8 million in exit fees “on deposit in the Realignment Reserve Fund” by June. (Fees from West Virginia, Texas Christian and a portion of what Pitt/Syracuse owe.)
• Approximately $25 million more in the RRF by June 2018 (rest of Pitt/Syracuse fees, and balances from Louisville and Rutgers, which is in litigation with the conference. In October 2011, the Big East reportedly doubled its exit fee amount to $10 million).
• Approximately $25 million in entrance fees from 10 incoming members running to 2020. (This was before Boise State and San Diego State returned to the Mountain West Conference. Boise owes a $2.5 million exit fee, which also covers SDSU since the two came in as West Coast partners.)

The documents also mention the league's “Football Reserve Fund” and a “Conference Reserve Fund,” which will be distributed to the Catholic 7 pro rata based on the number of members in the group. Numbers for those funds weren't listed."

"The documents state the Big East retains NCAA units from West Virginia, Syracuse, Pitt and Louisville, worth roughly $50 million over a nine-year period."

http://www.cbssports.com/collegefoo...cuments-note-688-million-in-realignment-funds

That's a lot of somollians...

 

[upstater]

You quit the conference? You get nada!!!!

 

[CL82]

Hey C7 multiply your prorata share times 0. Don't let the door hit you in the ass on the way out boys.

 

[upstater]

I love how ND is trying to game things and wriggle out. Aresco basically told them to quit talking to ND unless they want to go to court with the BE.

 

[TheRogers]

In all fairness Providence, Seton Hall, and DePaul should get something back for what they brought to the league all these years. I think $13.45 plus 2 lotto scratch tickets should be good for the three.

 

[auggie22]

In all fairness Providence, Seton Hall, and DePaul should get something back for what they brought to the league all these years. I think $13.45 plus 2 lotto scratch tickets should be good for the three.

And a Dunkin' Donuts gift card. They earned it.

 

[upstater]

Go back to the bylaw thread on the CR board and you'll find the addendum for 2 years ago Cuse and Pitt left. The new rules require both 2 votes from the opposing faction to dissolve the conference. Therefore, the conference cannot be dissolved.

What's being negotiated are the considerable NCAA credits which will mostly go to the Catholics (even thought they earned few of them) by virtue of the fact that those credits were to be split evenly according to the contract.

I am totally unaware of any stipulation that exit fees would also be split in the same way. In fact, it would seem to me, the assets such as exit fees could only be split IF the conference was dissolved.

Go read the Bylaws post that was stickied, and also reference Blaudschun's own confirmation that 2 votes from either faction are required for dissolution.

 

[Stinger92860]

We get some? Please show us your math?

 

[buggsy]

The notion that the C-7 can just dissolve the conference on their own has already been proven false, since the league's by-laws state the need for some of the football playing schools to agree to this and vote with the C-7 for dissolution.

How in the world do the Catholic schools think they are owed money from the football schools for leaving, when they have announced they are leaving as well?

I can understand the C-7 not having to pay an exit fee, if that was implemented into the contract (that if they leave as a group, they do not have to pay a fee)....but the gall of them to think they can also collect on exit fees from other schools in mindboggling.

 

[upstater]

The notion that the C-7 can just dissolve the conference on their own has already been proven false, since the league's by-laws state the need for some of the football playing schools to agree to this and vote with the C-7 for dissolution.

How in the world do the Catholic schools think they are owed money from the football schools for leaving, when they have announced they are leaving as well?

I can understand the C-7 not having to pay an exit fee, if that was implemented into the contract (that if they leave as a group, they do not have to pay a fee)....but the gall of them to think they can also collect on exit fees from other schools in mindboggling.

Agreed. They get NCAA credits, while Louisville and Rutgers don't, but the CYO7 do not get exit fees.

 

[noeynox]

Where is coach Calhoun to yell not a dime back at these fools.

 

[sdhusky]

PC was the dregs of the BE and will be the dregs of any new conference.

 

[caw]

PC was the dregs of the BE and will be the dregs of any new conference.

DePaul and SHU are fighting for the very bottom but PC is right there.

 

[huskymedic]

DePaul and SHU are fighting for the very bottom but PC is right there.

Nah... at least SHU had the nice run w/ PJC. PC not so much.

 

[Wise2]

Nah... at least SHU had the nice run w/ PJC. PC not so much.

well they did have that Pitno guy for a FF run while in the BE.... So even a blind squirel....