(03-06-2013 02:05 PM)apex_pirate Wrote: (03-06-2013 01:28 PM)chargeradio Wrote: What would be funny is if ND owed an exit fee to the C7-after all ND technically isn't withdrawing with them.
They are withdrawing as a group. Nothing states that they have to land in the same place. Though I think steve is right that if ND leaves before the 27 months they indeed do have an exit fee. All of that will be negotiated out with the C7 stuff. Doubt ND pays anything as it will come out of any money that would have been theirs and negotiated as settlement.
If ND leaves short of the 27 month notice, it may owe $5million or less.
It gets complicated. Here are some quotes:
This article quotes Swarbrick as saying that ND owes no exit fee:
"Big East rules allow schools to leave as a group without being obligated to pay exit fees, which is exactly what Georgetown, Villanova, Marquette, Seton Hall, St. John’s, DePaul and Providence are doing.
“We withdrew under the same agreement that the seven basketball schools withdrew under,” Swarbrick said. “We don’t owe any withdrawal fee — never have. It’s not in dispute; never has been. The nature of that separate agreement provides that we don’t. It’s a different dynamic with us. We’re not trying to negotiate a withdrawal fee; there isn’t one.”
http://notredame.247sports.com/Article/Notre-Dame- AD-Jack-Swarbrick-considering-early-Big-East-exit- 107216
Apparently, the only issue is the 27 month waiting period:
"The question all along has been whether or not Swarbrick would comply with Big East bylaws, which requires 27 months notice in order to leave the Big East without penalty, or go ahead and join the ACC next fall. However, Swarbrick revealed Monday that Notre Dame is not subject to early-exit penalties like the ones recently negotiated for Pittsburgh, Syracuse and West Virginia."
This article says that they will have to negotiate an exit fee if they leave sooner:
"
Schools leaving the Big East must provide 27 months' notice and pay an exit fee. However, Notre Dame is not required to pay an exit fee if it honors the 27 months. To leave prior to the 27 months -- or before July 1, 2015 -- the Irish would have to negotiate an agreement with the Big East."
"Unlike other league members, Notre Dame has a unique situation with the Big East that if it provides 27 months' notice, the school does not have to pay an exit fee. Other league members must provide the 27 months' notice and pay the league's exit fee, currently $10 million. To leave before 27 months, Big East schools have negotiated paying higher exit fees."
http://espn.go.com/college-sports/story/...src=mobile
This one says that Notre Dame's exit fee is $5 million dollars:
"Big East bylaws require a departing school to pay a $5 million exit fee and provide a 27-month withdrawal notice before leaving the conference. Notre Dame AD Jack Swarbrick said during a press conference Wednesday night that the school intends to meet its contractual obligations with the Big East. Swarbrick declined to comment specifically on if the school plans to leave the conference before the start of the 2014 season."
http://www.cbssports.com/collegefootball/blog/coll ege-football-rapidreports/20167831/how-will-the-bi g-east-respond-to-the-departure-of-notre-dame
It is a bit confusing.
Whatever the situation, I don't think that an exit fee is all that big of a deal for ND.