Pittsburgh Post-Gazette: WVU/Big East Settlement Would Be $11 Million

[zls44]

http://www.post-gazette.com/pg/12039/1208979-100.stm

 

[MattMang23]

Gutless. Spineless. No backbone. Yup, sounds just like the Big East.

 

[The Funster]

If true, it's disappointing to say the least. Not surprising, though.

 

[MattMang23]

Oh and to add, if WVU can leave for 11 mill and not wait 27 months, does that mean when we are invited elsewhere we can also leave immediately for just an additional 1mill?

And I realize that WVUs exit fee is only 5mill but obviously contracts don't matter so I guess it would be appropriate to name our own fee and timeframe when that time comes.

 

[businesslawyer]

From what I know, I would not be settling at this stage. I would fight for the injunction, and then if I don't get it the damages will always be there.

But competent counsel has been retained in the case and if they are advising the Big East that settlement is reasonable (presumably because the amount of damages WVU is offering is in the range of what the Big East could expect to achieve after a trial) it most likely is.

 

[noeynox]

From what I know, I would not be settling at this stage. I would fight for the injunction, and then if I don't get it the damages will always be there.

But competent counsel has been retained in the case and if they are advising the Big East that settlement is reasonable (presumably because the amount of damages WVU is offering is in the range of what the Big East could expect to achieve after a trial) it most likely is.

Conference bylaws mean jack if they're allowed to leave next season for that paltry amount. I wonder if it all goes to PC. If this happens the way it is being reported, than poster that said there is no way the Big East can stop WVU from leaving was right.

Big East should make WVU ineligible for the BE tourney this year, but then they'd probably end up having to pay WVU like 50 million.

 

[Revrat]

initial reports had WVU kicking in 11 mill while the Big12 would kick in the additional to get to a 20 mil settlement. this article mentions nothing about the Big12

 

[uc1974]

$20M is probably fair. The idea that WVU and the Big 12 would pay that kind of money is mind-boggling. It will take quite some time to make up the cost. WV is a poor state and WVU no academic powerhouse. Justifying that type of expenditure with the consequent breach in ethics is troubling.

 

[UConnSportsGuy]

I wonder if this settlement has any connections to the basketball teams' proposal of sanctions instead of the NCAA Tournament suspension for 2013? The money we are getting from the WVU settlement may cover the money we will lose if they accept our proposal (for the lost home game revenue and our share of the NCAA tournament money we'd get from being in the tournment). Probably not related, but you never know.

 

[zls44]

It will take quite some time to make up the cost.

Ah, no.

 

[Da_Aisijimo_Gou]

It will take quite some time to make up the cost.

Yes, it's true. It actually will take some time to make up the cost. However, the ROI will likely justify the investment sooner than many speculate. Benefit/Cost: Big 12 versus Big Clusterphark?