just saw this:
http://www.cbssports.com/collegefootball...ment-funds

Looks like 68.8 million just in the fees.

now one major thing:
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.

few things here-
1- seems like each group gets to keep their units.
2- author is wrong- it's over a 6 year period.
3- seems like the fb group will get to keep the hoops money from the leaving schools. What woudl be split up is the exit/entrance fees.

sounds like aresco is trying to get the split done sooner rather than later.

http://www.cbssports.com/collegefootball...ment-funds

Quote:The “Mutual Commitment Agreement – Initial Separation Issues List,” sent by Big East attorney Peter Zern to Commissioner Mike Aresco and three Big East presidents on Dec. 21, highlights ground rules for a departure that one Big East source says could take all of 2013 to finalize.

So much for leaving after this season.

Quote:the MCA spells out several questions about the timing of the separation (scheduled July 30, 2015), the Big East namesake, the licensing agreement at Madison Square Garden and other “relative property” to sort out.

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.

“Because it is anticipated that a number of the expenses associated with Conference realignment and the Conference's re-building efforts will be paid from the amount on deposit in the Realignment Reserve Fund, and because the final amounts to be paid into the Realignment Reserve Fund have not yet been agreed upon with some of the departing institutions, please indicate the proposed allocation for both of these sources of money as a percentage (not a dollar amount) below:”

Then the document lists the same breakdown of exit fees and entrance fees as listed above.

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.

Quote:A sample of questions the agreement asks of the Catholic 7:

•“Would you be amenable to an earlier separation date?”


•”If so, what is the earliest date you would consider?”


•“Would you be amenable to allowing the other group of schools to retain the Big East name under appropriate conditions?”


•“Would you consider a change in format that might allow both groups to hold a shorter tournament at (Madison Square Garden), or would you consider other potential alternatives (such as alternating years with the other group at MSG)?”
The MSG agreement currently runs to 2026.
The agreement warns that litigation issues with withdrawing Big East football members (such as Rutgers) may arise that could affect the separation of the Catholic 7. If that happens, the counsel will coordinate with each group.

(02-01-2013 03:48 PM)stever20 Wrote:  just saw this:
http://www.cbssports.com/collegefootball...ment-funds

Looks like 68.8 million just in the fees.

now one major thing:
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.

few things here-
1- seems like each group gets to keep their units.
2- author is wrong- it's over a 6 year period.
3- seems like the fb group will get to keep the hoops money from the leaving schools. What woudl be split up is the exit/entrance fees.

sounds like aresco is trying to get the split done sooner rather than later.

Well, no he's right. WVU left this year. Pitt and Syracuse leave after this year. Louisville and presumably Rutgers leave after next year. Their credits carry for six years after the tournament, which if you count those three years, means the credits for all those carry for 9 years total.

(02-01-2013 03:58 PM)CommuterBob Wrote:  

(02-01-2013 03:48 PM)stever20 Wrote:  just saw this:
http://www.cbssports.com/collegefootball...ment-funds

Looks like 68.8 million just in the fees.

now one major thing:
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.

few things here-
1- seems like each group gets to keep their units.
2- author is wrong- it's over a 6 year period.
3- seems like the fb group will get to keep the hoops money from the leaving schools. What woudl be split up is the exit/entrance fees.

sounds like aresco is trying to get the split done sooner rather than later.

Well, no he's right. WVU left this year. Pitt and Syracuse leave after this year. Louisville and presumably Rutgers leave after next year. Their credits carry for six years after the tournament, which if you count those three years, means the credits for all those carry for 9 years total.

actually no. It'd be for 2014-if Louisville/Rutgers leave after next year 2021 seasons. That's 8. The payments we're getting for this year won't be impacted at all...

(02-01-2013 04:03 PM)stever20 Wrote:  

(02-01-2013 03:58 PM)CommuterBob Wrote:  

(02-01-2013 03:48 PM)stever20 Wrote:  just saw this:
http://www.cbssports.com/collegefootball...ment-funds

Looks like 68.8 million just in the fees.

now one major thing:
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.

few things here-
1- seems like each group gets to keep their units.
2- author is wrong- it's over a 6 year period.
3- seems like the fb group will get to keep the hoops money from the leaving schools. What woudl be split up is the exit/entrance fees.

sounds like aresco is trying to get the split done sooner rather than later.

Well, no he's right. WVU left this year. Pitt and Syracuse leave after this year. Louisville and presumably Rutgers leave after next year. Their credits carry for six years after the tournament, which if you count those three years, means the credits for all those carry for 9 years total.

actually no. It'd be for 2014-if Louisville/Rutgers leave after next year 2021 seasons. That's 8. The payments we're getting for this year won't be impacted at all...

This year the Big East is getting NCAA credits from WVU. The Big East will be getting NCAA credits for Louisville through the 2021 tournament. That's a nine-year period. That's what Fowler is talking about.

That list also makes it sound like neither side owns the BE name outright.

(02-01-2013 04:15 PM)CommuterBob Wrote:  

(02-01-2013 04:03 PM)stever20 Wrote:  

(02-01-2013 03:58 PM)CommuterBob Wrote:  

(02-01-2013 03:48 PM)stever20 Wrote:  just saw this:
http://www.cbssports.com/collegefootball...ment-funds

Looks like 68.8 million just in the fees.

now one major thing:
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.

few things here-
1- seems like each group gets to keep their units.
2- author is wrong- it's over a 6 year period.
3- seems like the fb group will get to keep the hoops money from the leaving schools. What woudl be split up is the exit/entrance fees.

sounds like aresco is trying to get the split done sooner rather than later.

Well, no he's right. WVU left this year. Pitt and Syracuse leave after this year. Louisville and presumably Rutgers leave after next year. Their credits carry for six years after the tournament, which if you count those three years, means the credits for all those carry for 9 years total.

actually no. It'd be for 2014-if Louisville/Rutgers leave after next year 2021 seasons. That's 8. The payments we're getting for this year won't be impacted at all...

This year the Big East is getting NCAA credits from WVU. The Big East will be getting NCAA credits for Louisville through the 2021 tournament. That's a nine-year period. That's what Fowler is talking about.

But the credits from WVU for this year will be paid out regularly- it has no bearing on the realignment issue at all. What is up for question is the money from 2014 on(and actually maybe 2015 on if the split doesn't take place for the 2013-14 season).

(02-01-2013 04:18 PM)stever20 Wrote:  

(02-01-2013 04:15 PM)CommuterBob Wrote:  

(02-01-2013 04:03 PM)stever20 Wrote:  

(02-01-2013 03:58 PM)CommuterBob Wrote:  

(02-01-2013 03:48 PM)stever20 Wrote:  just saw this:
http://www.cbssports.com/collegefootball...ment-funds

Looks like 68.8 million just in the fees.

now one major thing:
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.

few things here-
1- seems like each group gets to keep their units.
2- author is wrong- it's over a 6 year period.
3- seems like the fb group will get to keep the hoops money from the leaving schools. What woudl be split up is the exit/entrance fees.

sounds like aresco is trying to get the split done sooner rather than later.

Well, no he's right. WVU left this year. Pitt and Syracuse leave after this year. Louisville and presumably Rutgers leave after next year. Their credits carry for six years after the tournament, which if you count those three years, means the credits for all those carry for 9 years total.

actually no. It'd be for 2014-if Louisville/Rutgers leave after next year 2021 seasons. That's 8. The payments we're getting for this year won't be impacted at all...

This year the Big East is getting NCAA credits from WVU. The Big East will be getting NCAA credits for Louisville through the 2021 tournament. That's a nine-year period. That's what Fowler is talking about.

But the credits from WVU for this year will be paid out regularly- it has no bearing on the realignment issue at all. What is up for question is the money from 2014 on(and actually maybe 2015 on if the split doesn't take place for the 2013-14 season).

But that is not what the quote is.

Quote: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.

It doesn't state that that $50M is to be put anywhere specific or even part of any reserve fund. It is a statement of fact regarding the source of some conference revenues. That is all.

Another interesting part is that Boise only owes $2.5M as an exit fee. Their contract states that they should owe $5M. According to Boise's contract with the BE, the exit fee would be reduced to $2.5M only if the conference did not sign a contract before July 1, 2013 that paid 70% to football. Hmmm...

(02-01-2013 04:52 PM)CommuterBob Wrote:  Another interesting part is that Boise only owes $2.5M as an exit fee. Their contract states that they should owe $5M. According to Boise's contract with the BE, the exit fee would be reduced to $2.5M only if the conference did not sign a contract before July 1, 2013 that paid 70% to football. Hmmm...

They had to pay $2.5M immediately upon announcing they were leaving. The $2.5M reported that they owe is likely the remaining balance.