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AAC Exit Fee - gulfcoastgal - 03-07-2016 02:21 PM
Is it 5M or 10M? I've seen both published. Anyone know for sure?
RE: AAC Exit Fee - Attackcoog - 03-07-2016 02:22 PM
It rose to 10 million (from 5 million) when Navy joined the conference.
http://www.nj.com/rutgersfootball/index.ssf/2012/01/navy_joins_big_east_after_acco.html
RE: AAC Exit Fee - gulfcoastgal - 03-07-2016 02:35 PM
Memphis agreed to join after Navy and part of its' contract was made public...$5M exit fee which fits with BSU, TCU numbers...
Quote:-- Should the Tigers want to get out of the contract, they can -- if they pay $5 million, due in full the day they notify the league. But if the Big East's total revenue in the prior fiscal year drops 25 percent or more, the Tigers would only owe $1 million.
http://www.commercialappeal.com/sports/tigers/more/329497571.html?d=mobile
Was this changed or modified after?
RE: AAC Exit Fee - rath v2.0 - 03-07-2016 05:09 PM
It will likely be zero for UCONN, UC and USF since they have money still due to them from the BE exit fees, credits and the sale of the conference name. These would likely be negotiated on exit.
RE: AAC Exit Fee - CliftonAve - 03-07-2016 05:14 PM
(03-07-2016 05:09 PM)rath v2.0 Wrote: It will likely be zero for UCONN, UC and USF since they have money still due to them from the BE exit fees, credits and the sale of the conference name. These would likely be negotiated on exit.
If the Dennis Dodds article from today is correct there is no exit fee. As you inducates the schools you listed would simply negotiate from whatever is left in their war chest. We've spent three years of it and if I recall there was enough there to last six years.
RE: AAC Exit Fee - gulfcoastgal - 03-07-2016 05:27 PM
^ Wouldn't that be true of any any member...negotiated settlement?
RE: AAC Exit Fee - Mestophalies - 03-07-2016 05:29 PM
(03-07-2016 05:27 PM)gulfcoastgal Wrote: ^ Wouldn't that be true of any any member...negotiated settlement?
No, just UC, UConn and USF.
RE: AAC Exit Fee - gulfcoastgal - 03-07-2016 05:35 PM
So, what for the rest? Memphis is documented at $5M upon entry. Wouldn't any exit strategy include monies owed...accrued...?
RE: AAC Exit Fee - UofMemphis - 03-07-2016 05:45 PM
(03-07-2016 05:09 PM)rath v2.0 Wrote: It will likely be zero for UCONN, UC and USF since they have money still due to them from the BE exit fees, credits and the sale of the conference name. These would likely be negotiated on exit.
going independent?
that BE money dries up in roughly 2 years...tick tock
RE: AAC Exit Fee - Attackcoog - 03-07-2016 06:11 PM
(03-07-2016 02:35 PM)gulfcoastgal Wrote: Memphis agreed to join after Navy and part of its' contract was made public...$5M exit fee which fits with BSU, TCU numbers...
Quote:-- Should the Tigers want to get out of the contract, they can -- if they pay $5 million, due in full the day they notify the league. But if the Big East's total revenue in the prior fiscal year drops 25 percent or more, the Tigers would only owe $1 million.
http://www.commercialappeal.com/sports/tigers/more/329497571.html?d=mobile
Was this changed or modified after?
That was the agreement they signed accepting the Big East invite. The CUSA schools were invited as early as late 2011, but would not officially enter the Big East until summer of 2013 or2014. If they backed out of actually entering the league in 2013/2014, they owed 5 million (just like Boise or TCU). SDSU didn't owe the fee because they had a clause that said if there was no suitable western partner to enter the league with, SDSU could back out with no penalty.
RE: AAC Exit Fee - gulfcoastgal - 03-07-2016 06:16 PM
N/A
RE: AAC Exit Fee - billybobby777 - 03-07-2016 06:19 PM
(03-07-2016 02:21 PM)gulfcoastgal Wrote: Is it 5M or 10M? I've seen both published. Anyone know for sure?
Depends on the school. For example Tulane gets paid 20 million to leave the AAC.
Cheers!
RE: AAC Exit Fee - gulfcoastgal - 03-07-2016 06:22 PM
Who Doesn't love the Big Easy?
RE: AAC Exit Fee - ArmoredUpKnight - 03-07-2016 06:27 PM
It's all negotiated anyways. Feel like the "contract exit fee" is simply an optimistic guideline.
Re: AAC Exit Fee - shere khan - 03-07-2016 08:03 PM
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RE: AAC Exit Fee - johnbragg - 03-07-2016 08:26 PM
Nobody knows what The American's exit fee is. (At least nobody outside the league presidents).
The $10M exit fee was for the old league, under the old bylaws. It's probably different now.
The $5M wasn't an exit fee, technically, it was a payment made to settle any damages incurred by not carrying out the contract.
I can't imagine that the new league is operating under the same bylaws, written for a delicately balanced hybrid conference. Likewise, the $10M exit fee was for a coast-to-coast "near-power-conference" in football with a media rights deal worth upwards of $100M per year. None of that still applies. The new exit fee is set by whatever bylaws were adopted since the C7 left. Those bylaws haven't been made public, so we have no idea what the new exit fee is. Could be $10M, could be $5M, could be zero if you give 366 days notice.
RE: AAC Exit Fee - KNIGHTTIME - 03-07-2016 09:27 PM
(03-07-2016 05:45 PM)UofMemphis Wrote:(03-07-2016 05:09 PM)rath v2.0 Wrote: It will likely be zero for UCONN, UC and USF since they have money still due to them from the BE exit fees, credits and the sale of the conference name. These would likely be negotiated on exit.
going independent?
that BE money dries up in roughly 2 years...tick tock
They forgo the warchest if they leave plus owe the $10 million penalty.
RE: AAC Exit Fee - BearcatJerry - 03-07-2016 10:46 PM
(03-07-2016 09:27 PM)KNIGHTTIME Wrote:(03-07-2016 05:45 PM)UofMemphis Wrote:(03-07-2016 05:09 PM)rath v2.0 Wrote: It will likely be zero for UCONN, UC and USF since they have money still due to them from the BE exit fees, credits and the sale of the conference name. These would likely be negotiated on exit.
going independent?
that BE money dries up in roughly 2 years...tick tock
They forgo the warchest if they leave plus owe the $10 million penalty.
Yeah... That's not going to happen.
RE: AAC Exit Fee - TIGERCITY - 03-07-2016 10:48 PM
(03-07-2016 05:09 PM)rath v2.0 Wrote: It will likely be zero for UCONN, UC and USF since they have money still due to them from the BE exit fees, credits and the sale of the conference name. These would likely be negotiated on exit.
I seem to recall that their 'extra' money is paid out over 5 years --- with AAC membership required in each of those.
RE: AAC Exit Fee - mtmedlin - 03-07-2016 10:52 PM
No, it was reported that the exit fee would increase to $10 million once Navy joined AND there is a 27 month notice requirement. To get out of that would require negotiation.
This was enforced on Rutgers when they left. They were a part of the AAC (not the Big East) and Navy had signed the paperwork, so they were required (and did pay) the $10 million exit fee.