Uconn gets 30 million in C7 split

[Hume]

According to Mark Blaudschun Uconn should pick up about 30 million from the C7 breakup. An agreement was reached a little while ago.

 

[superjohn]

This is the first good news we've had in realignment. Get us much possible $$ out of all these as*holes.

 

[GemParty]

Finish this divorce $$$$ then shop for a new league. What a plan.

 

[CL82]

Finish this divorce then shop for a new league. What a plan.

It's the best we got. At least we're not struggling to get funds in the near term.

According to sources familiar with the talks that have been held between the Catholic 7 group of schools and the Big East football schools, the deal that will be finalized and announced on Wednesday will pay each of the remaining football schools-Connecticut, Cincinnati and South Florida nearly $30 million each from a conference cash reserve in excess of $114 million.
The Catholic 7 group–Seton Hall, DePaul, Georgetown, Villanova, St. John’s Georgetown and Providence–had hoped to each receive between $3 and 5 million from that pot. They will take half of that, with each school receiving approximately $1.5 million.

The rest of the money will be divided between the 8 incoming Big East schools, who will divide approximately $10 million. The remaining money–between $3 and 5 million will go into a Big East operating funds account.

Is there a timetable for the payout?
I've come to think conference realignment like March Madness. We just need to survive and advance. This goes a long way toward maiking that happen.

 

[Robertelamin]

30 Million? This better mean more free t shirt slingshots during timeouts! Yesssssssss

 

[StoweD210]

Now Susan and Warde can head to the casinos and triple that money!

 

[jibsey]

How much do we have to give back to leave the conference?

 

[prankster]

Link to the story

 

[Palatine]

Two words - finish the basketball practice facility.

 

[Yonick]

This tides us over until we can find a new and appropriate conference. As far as a payout for the conference we are about to enter, if/when we leave,I don't think that's been determined. My guess, because it's not all that high profile of a conference, it will be between 5-10 mil.
With the meager TV money we will get between football & hoops, this 30 mil offsets this. One CT reporter had suggested the football program would go broke. This won't happen now. But, we have to move itnto a big name conference well within 5 years. Otherwise we are in financial deep dew-dew.

 

[Phoenixhusky]

Got this off a poster named "Gillen4" at the friar board. You would think you could say the same about Providence right?
"USF has to be peeing themselves over this. $30 million for hanging around with some terrible basketball, medicore football, and having brought zero to the league table."

Providence has no football team and has offered nothing in Bball! Ha ha! Best laugh I had all day.

 

[Waquoit]

Got this off a poster named "Yanick" at the friar board. You would think you could say the same about Providence right?
"USF has to be peeing themselves over this. $30 million for hanging around with some terrible basketball, medicore football, and having brought zero to the league table."

Providence has no football team and has offered nothing in Bball! Ha ha! Best laugh I had all day.

USF was ranked in the Top 10 in football for a cup of coffee just a few years ago. When has PC even been an "other team receiving votes" lately?

 

[Phoenixhusky]

I am still laughing! That was the funniest post I have read in a long time. PC fans are delusional.

 

[Scot-e]

Lets not have another PC thread. This is becoming a sickness.

 

[Excalibur]

PC has fans? And a message board?

 

[patrick]

Two words - finish the basketball practice facility.

I agree but that's 5 words.

 

[Jerry1714]

Got this off a poster named "Gillen4" at the friar board. You would think you could say the same about Providence right?
"USF has to be peeing themselves over this. $30 million for hanging around with some terrible basketball, medicore football, and having brought zero to the league table."

Providence has no football team and has offered nothing in Bball! Ha ha! Best laugh I had all day.

Didn't USF win a ncaa tournament game last year? Been 20 years since PC can say that.

 

[GemParty]

Couldn't they slip, Uconn into the final BET as a small line item of the Big divorce? Nobody cares who gets a lamp, when the house has been divided.

 

[BFieldHusky]

One athletic director told ESPN's Andy Katz that the conference will take $15 million off the top for legal fees, consultants and other service.

 

[Husky]

About even from the fiesta bowl lol

 

[TRest]

One athletic director told ESPN's Andy Katz that the conference will take $15 million off the top for legal fees, consultants and other service.

Incompetence fee.

 

[Husky]

15 million in legal fees and consults? Jesus....wtf? What could 15 million possibly have been spent on? Considering the situation that we are in???

 

[SeattleHoop]

I agree but that's 5 words.

Don't argue Patrick!

 

[SeattleHoop]

15 million in legal fees and consults? Jesus....wtf? What could 15 million possibly have been spent on? Considering the situation that we are in???

So $15 mill of the $30 mill is going to the new conference?? Do I have that right?

 

[CAHUSKY]

So $15 mill of the $30 mill is going to the new conference?? Do I have that right?

15 of the 110