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Full Version: Report: USM paid $1.75 million to leave C-USA according to the exit agreement
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For those who care,


https://sm2media.com/31214/news/usm-paid...xit-c-usa/

Quote: The Separation Agreement
It was previously reported that the typical Conference USA exit fee was $3 million, but the conference and the universities agreed to settle for a $1.75 million buyout. This was also a penalty for not giving the required 14 months’ notice before leaving. Southern Miss was required to pay the fee within 30 calendar days of receiving the notice, which it appears they have done so.
The document revealed that Conference USA would not withhold any funding towards the universities from the NCAA, including the academic enhancing fund, academic performance fund, student assistance fund, sports sponsorships and grants-in-aid. Conference USA stated that they would not distribute any other funding towards the universities regarding the 2021-2022 fiscal year. This includes $400,000 for the C-USA television contract in football as well as $1 million from the conference for bowl appearances.
The agreement allowed Southern Miss to host the 2022 Conference USA Baseball Tournament as previously planned. There was debate on whether or not the conference would find a new host after Southern Miss broke the contract, but the tournament occurred at Pete Taylor Park as planned.
Confidentiality was an important aspect of the agreement, as Conference USA made it clear that it did not want the agreement to become public. The Student Media Center and other media organizations requested a copy of the document on or around March 31, but C-USA filed a protective agreement on April 21 to keep the documents confidential. The matter was slated to go to court on Sept. 15 before C-USA changed course, allowing the documents to become public.
So this is a subtle brag of sorts?
(09-21-2022 06:20 PM)HiddenDragon Wrote: [ -> ]So this is a subtle brag of sorts?

No. This entire board argued endlessly for 6+ months about what the exit fees would be. We finally know what they actually were.
So they paid 1.75 and then had 1.4 withheld?

Sounds like 3 million to me
Who cares? Never understood why you want to keep someone who wants to leave. USM paid a fee for the discomfort.
Hosting the tournament must have been a big deal to USM.
Wonder if the others paid the same? If so USM out negotiated by keeping the baseball tournament.
(09-21-2022 06:49 PM)RustonBulldog Wrote: [ -> ]So they paid 1.75 and then had 1.4 withheld?

Sounds like 3 million to me

SBC fans aren’t the smartest lol
Thanks for the 3.15 million. I always respected Southern Miss and their history but most of the time all I received was insults and snide remarks from many of their posters. I think they were upset being in a conference with "little ole" WKU but we defeated them in almost every BB abd FB game we ever played.
I'll always find it ironic that Southern Miss (an anchor member of CUSA) decided to exit CUSA for the Sun Belt. Had the pleasure of attending the New Orleans Bowl in 2009 when MT was the Sun Belt rep. And we upset the Mighty Eagles. Great Victory for Middle. Hope we get to play USM again in a Bowl Game someday.
(09-21-2022 06:49 PM)RustonBulldog Wrote: [ -> ]So they paid 1.75 and then had 1.4 withheld?

Sounds like 3 million to me

Yes you are correct C-USA got exactly what they were owed, which is what the 3 SBC schools were offering to leave in the first place. C-USA got to pay a bunch of lawyers to gain nothing. That 1.75 is roughly equal to what our second year of withheld monies would have been.
(09-22-2022 11:31 AM)Blue_Trombone Wrote: [ -> ]
(09-21-2022 06:49 PM)RustonBulldog Wrote: [ -> ]So they paid 1.75 and then had 1.4 withheld?

Sounds like 3 million to me

Yes you are correct C-USA got exactly what they were owed, which is what the 3 SBC schools were offering to leave in the first place. C-USA got to pay a bunch of lawyers to gain nothing. That 1.75 is roughly equal to what our second year of withheld monies would have been.

Link to exactly what was offered?

SB3 schools saying they offered a “fair” number doesn’t mean they offered 1.75 or anywhere near it. Fair is a relative term that probably meant different things to different parties.
(09-22-2022 11:31 AM)Blue_Trombone Wrote: [ -> ]
(09-21-2022 06:49 PM)RustonBulldog Wrote: [ -> ]So they paid 1.75 and then had 1.4 withheld?

Sounds like 3 million to me

Yes you are correct C-USA got exactly what they were owed, which is what the 3 SBC schools were offering to leave in the first place. C-USA got to pay a bunch of lawyers to gain nothing. That 1.75 is roughly equal to what our second year of withheld monies would have been.

Do you know how much they spent on lawyers?

Or how much the schools spent on lawyers?

Or what was offered in the first place?

Or the value of all the time we got to enjoy debating the whole thing here on this message board?

Lotta variables being left out of the equations here.
I know there will now be an argument about 1.75 vs 3 million, but it is NO WHERE CLOSE to the absurd estimates that the law school posters were throwing out there. I remember figures of 6M or more lol.
So can we admit that she more than did her job. It’s a 3 million total payout by the three schools. I am sure the three leaving schools where trying to include the sacrifice of revenue as their payout. So CUSA got exactly what they asked for
(09-22-2022 01:19 PM)USM3000 Wrote: [ -> ]I know there will now be an argument about 1.75 vs 3 million, but it is NO WHERE CLOSE to the absurd estimates that the law school posters were throwing out there. I remember figures of 6M or more lol.

The financial impact to USM will be somewhere in the neighborhood of $4.15 million when all is said and done, according to the article below. USM wrote a check for $1.75, with the total estimated expense from missing media revenue between C-USA and the SBC to be about $2.4 million. $4.15 million in a one year would be a sizable hit for LaTech's budget...not sure, maybe it's a drop in the bucket at USM, but I suspect it's significant to y'all too.

https://www.sunherald.com/sports/college...rylink=cpy
(09-22-2022 01:32 PM)chuckk3 Wrote: [ -> ]
(09-22-2022 01:19 PM)USM3000 Wrote: [ -> ]I know there will now be an argument about 1.75 vs 3 million, but it is NO WHERE CLOSE to the absurd estimates that the law school posters were throwing out there. I remember figures of 6M or more lol.

The financial impact to USM will be somewhere in the neighborhood of $4.15 million when all is said and done, according to the article below. USM wrote a check for $1.75, with the total estimated expense from missing media revenue between C-USA and the SBC to be about $2.4 million. $4.15 million in a one year would be a sizable hit for LaTech's budget...not sure, maybe it's a drop in the bucket at USM, but I suspect it's significant to y'all too.

https://www.sunherald.com/sports/college...rylink=cpy


Best money USM ever spent if you ask me, so happy to be in a conference with real leadership. Regional conference without the outlandish travel cost in CUSA, conference mates that actually want USM to be there, and a commissioner that doesn't look for every possible opportunity to screw USM. No charter member of any conference was ever treated as bad as USM was treated in CUSA.

The $1.75 M payment is pretty much spot on with what most USM fans expected it to be (between 1.5-2M). Glad y'all are happy in the sinking ship, but you know you would jump at any decent opportunity to come your way.....if you were really honest about it that is.

So much for 5-7 million many on here swore their lawyer buddy said we would be forced to pay!
(09-22-2022 01:53 PM)PolymerEagle Wrote: [ -> ]
(09-22-2022 01:32 PM)chuckk3 Wrote: [ -> ]
(09-22-2022 01:19 PM)USM3000 Wrote: [ -> ]I know there will now be an argument about 1.75 vs 3 million, but it is NO WHERE CLOSE to the absurd estimates that the law school posters were throwing out there. I remember figures of 6M or more lol.

The financial impact to USM will be somewhere in the neighborhood of $4.15 million when all is said and done, according to the article below. USM wrote a check for $1.75, with the total estimated expense from missing media revenue between C-USA and the SBC to be about $2.4 million. $4.15 million in a one year would be a sizable hit for LaTech's budget...not sure, maybe it's a drop in the bucket at USM, but I suspect it's significant to y'all too.

https://www.sunherald.com/sports/college...rylink=cpy


Best money USM ever spent if you ask me, so happy to be in a conference with real leadership. Regional conference without the outlandish travel cost in CUSA, conference mates that actually want USM to be there, and a commisioner that doesn't look for every possible opportunity to screw USM.

I can't speak for the other 4 legacy members, but Tech certainly enjoyed being conference mates with USM. So much so, y'all's seat barely got cold before we signed a renewal of our football series.

Hopefully you'll save a few bucks on travel. I agree with you on that.
(09-22-2022 01:53 PM)PolymerEagle Wrote: [ -> ]
(09-22-2022 01:32 PM)chuckk3 Wrote: [ -> ]
(09-22-2022 01:19 PM)USM3000 Wrote: [ -> ]I know there will now be an argument about 1.75 vs 3 million, but it is NO WHERE CLOSE to the absurd estimates that the law school posters were throwing out there. I remember figures of 6M or more lol.

The financial impact to USM will be somewhere in the neighborhood of $4.15 million when all is said and done, according to the article below. USM wrote a check for $1.75, with the total estimated expense from missing media revenue between C-USA and the SBC to be about $2.4 million. $4.15 million in a one year would be a sizable hit for LaTech's budget...not sure, maybe it's a drop in the bucket at USM, but I suspect it's significant to y'all too.

https://www.sunherald.com/sports/college...rylink=cpy

Glad y'all are happy in the sinking ship...

Really, dude?
(09-22-2022 01:53 PM)PolymerEagle Wrote: [ -> ]
(09-22-2022 01:32 PM)chuckk3 Wrote: [ -> ]
(09-22-2022 01:19 PM)USM3000 Wrote: [ -> ]I know there will now be an argument about 1.75 vs 3 million, but it is NO WHERE CLOSE to the absurd estimates that the law school posters were throwing out there. I remember figures of 6M or more lol.

The financial impact to USM will be somewhere in the neighborhood of $4.15 million when all is said and done, according to the article below. USM wrote a check for $1.75, with the total estimated expense from missing media revenue between C-USA and the SBC to be about $2.4 million. $4.15 million in a one year would be a sizable hit for LaTech's budget...not sure, maybe it's a drop in the bucket at USM, but I suspect it's significant to y'all too.

https://www.sunherald.com/sports/college...rylink=cpy


Best money USM ever spent if you ask me, so happy to be in a conference with real leadership. Regional conference without the outlandish travel cost in CUSA, conference mates that actually want USM to be there, and a commissioner that doesn't look for every possible opportunity to screw USM. No charter member of any conference was ever treated as bad as USM was treated in CUSA.

The $1.75 M payment is pretty much spot on with what most USM fans expected it to be (between 1.5-2M). Glad y'all are happy in the sinking ship, but you know you would jump at any decent opportunity to come your way.....if you were really honest about it that is.

So much for 5-7 million many on here swore their lawyer buddy said we would be forced to play!
AMEN!!!!!!!!!!!!!!!
(09-22-2022 11:31 AM)Blue_Trombone Wrote: [ -> ]
(09-21-2022 06:49 PM)RustonBulldog Wrote: [ -> ]So they paid 1.75 and then had 1.4 withheld?

Sounds like 3 million to me

Yes you are correct C-USA got exactly what they were owed, which is what the 3 SBC schools were offering to leave in the first place. C-USA got to pay a bunch of lawyers to gain nothing. That 1.75 is roughly equal to what our second year of withheld monies would have been.

And the three CUSA schools that left for the Sun Belt got to pay their lawyers a whole bunch of money "ON TOP" of paying what they had offered prior to having to hire them. So, your point?
(09-22-2022 01:53 PM)PolymerEagle Wrote: [ -> ]No charter member of any conference was ever treated as bad as USM was treated in CUSA.

How so?
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