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+----- Thread: C-USA Won't Make USF Pony Up For Exit (/thread-90644.html)
- 3forTU - 01-27-2004 05:53 PM
Maybe we can get some of these games.....
Jan 27, 2004
C-USA Won't Make USF Pony Up For Exit
By BRETT McMURPHY
bmcmurphy@tampatrib.com
TAMPA - South Florida will pay a $2.5 million entrance fee to join the Big East Conference but will not be required to pay Conference USA an exit fee, The Tampa Tribune has learned.
USF, Cincinnati, Louisville, DePaul and Marquette are leaving Conference USA after the 2004-05 school year to join the Big East, effective July 1, 2005.
The Big East will withhold $500,000 a year for five years from each new member from the annual revenue sharing pool - projected to be $2.8 million per school in 2005-06 - leaving each school $2.3 million per year.
If the Big East does not maintain its berth in the Bowl Championship Series through 2010, each new member's entry fee will be reduced to $2 million.
``No state money will be used [for the entrance fee], and there were no surprises,'' USF Vice President Michael Rierson said. ``We're very pleased with it.
``We anticipate a smooth transition. Everybody's worked very hard in both conference offices to make everything as smooth and simple as possible.''
Instead of paying an exit fee to C-USA, the five schools agreed to play an undetermined number of future football and basketball games against C-USA schools starting in 2005-06 to help C-USA offset lost television revenue generated by marquee basketball programs Louisville, Cincinnati and Marquette.
The Big East and C-USA will agree on those future games.
Besides more revenue in the Big East, USF will not be required to pay annual dues. C- USA required annual dues between $300,000-$400,000 from its members. USF still owes C- USA $800,000 of the $1 million when the football team joined C-USA this season.
USF's move to the Big East is expected to bring increased ticket revenue, corporate sponsorships, alumni donations and revenue from apparel sales.
The five schools wanted to join the Big East a year early in 2004, but Big East Commissioner Mike Tranghese told the Tribune last week his league would not compensate C-USA, which was seeking ``$6 million to $10 million,'' C-USA Commissioner Britton Banowsky told the Tribune.