RE: UConn paying $17 mill to leave the AAC.. Louisville paid between $10-11 mill ...
Most of it is money they would have gotten from the conference that the AAC will now just keep. I think they are only paying something like $5-6 mil out of pocket.
RE: UConn paying $17 mill to leave the AAC.. Louisville paid between $10-11 mill ...
You know what a bagman could have done with $20m? Enough to buy a championship caliber basketball team and a competive football team for a decade. Such a waste.
RE: UConn paying $17 mill to leave the AAC.. Louisville paid between $10-11 mill ...
I admire UConn’s decision, I think I’ll be rooting for them. Although, I have to say a Mike Anderson led Red Storm is my fav Big East team. I like Ed Cooley too.
RE: UConn paying $17 mill to leave the AAC.. Louisville paid between $10-11 mill ...
(07-27-2019 10:56 AM)Def Berkkat Wrote: Most of it is money they would have gotten from the conference that the AAC will now just keep. I think they are only paying something like $5-6 mil out of pocket.
The money is all out of pocket. UConn will not be getting the annual check. Yes, the formula is Exit - Conference money = Balance owed, but the bottom line does not change. The books will show revenue of the Conference payout and the full exit fee paid, though the conference will not actually pay the money to UConn.
People thinking like your post get fooled in buying/leasing cars when they have a balance due on the trade-in car which exceeds the trade-in value. The debt does not get erased, it gets rolled into the new loan/lease and is still paid.
At the end of the day, UConn will still pay $17MM to exit the AAC and $3.5 MM to enter the Big East. They are starting the new season short by $20.5MM. This assumes they get an immediate full share of Big East revenues, which they may not, depending on the agreement.
RE: UConn paying $17 mill to leave the AAC.. Louisville paid between $10-11 mill ...
(07-28-2019 08:43 PM)HtownOrange Wrote:
(07-27-2019 10:56 AM)Def Berkkat Wrote: Most of it is money they would have gotten from the conference that the AAC will now just keep. I think they are only paying something like $5-6 mil out of pocket.
The money is all out of pocket. UConn will not be getting the annual check. Yes, the formula is Exit - Conference money = Balance owed, but the bottom line does not change. The books will show revenue of the Conference payout and the full exit fee paid, though the conference will not actually pay the money to UConn.
People thinking like your post get fooled in buying/leasing cars when they have a balance due on the trade-in car which exceeds the trade-in value. The debt does not get erased, it gets rolled into the new loan/lease and is still paid.
At the end of the day, UConn will still pay $17MM to exit the AAC and $3.5 MM to enter the Big East. They are starting the new season short by $20.5MM. This assumes they get an immediate full share of Big East revenues, which they may not, depending on the agreement.
Your analogy is not correct.
Yes, people upside down on a car deal do still pay that out of pocket. UConn is not paying this out of pocket.
The more correct analogy is someone quitting a job and the employer keeping the money for their wages already earned.
RE: UConn paying $17 mill to leave the AAC.. Louisville paid between $10-11 mill ...
(07-29-2019 08:50 AM)Def Berkkat Wrote:
(07-28-2019 08:43 PM)HtownOrange Wrote:
(07-27-2019 10:56 AM)Def Berkkat Wrote: Most of it is money they would have gotten from the conference that the AAC will now just keep. I think they are only paying something like $5-6 mil out of pocket.
People thinking like your post get fooled in buying/leasing cars when they have a balance due on the trade-in car which exceeds the trade-in value. The debt does not get erased, it gets rolled into the new loan/lease and is still paid.
Your analogy is not correct.
Yes, people upside down on a car deal do still pay that out of pocket. UConn is not paying this out of pocket.
The more correct analogy is someone quitting a job and the employer keeping the money for their wages already earned.
I think the analogy is close enough for BBS. There is no practical difference between the AAC writing a check to Uconn then Uconn writing a check to the AAC vs the AAC withholding the money. What ever that amount is, it's real money that would have been in Uconn's pocket if they were not leaving the AAC.
It's the same scenario with NCAA credits. Money they would have received if they were not leaving.
The unknowns are how much the yearly payments will be to the AAC. Depending on the AAC payout this year, they could be $500k or $2million. We also don't know if the BE fee is due up front or taken out of earnings. We don't know if Uconn is getting a full share or a partial for some period.
RE: UConn paying $17 mill to leave the AAC.. Louisville paid between $10-11 mill ...
(07-29-2019 02:19 PM)Wolfman Wrote:
(07-29-2019 08:50 AM)Def Berkkat Wrote:
(07-28-2019 08:43 PM)HtownOrange Wrote:
(07-27-2019 10:56 AM)Def Berkkat Wrote: Most of it is money they would have gotten from the conference that the AAC will now just keep. I think they are only paying something like $5-6 mil out of pocket.
People thinking like your post get fooled in buying/leasing cars when they have a balance due on the trade-in car which exceeds the trade-in value. The debt does not get erased, it gets rolled into the new loan/lease and is still paid.
Your analogy is not correct.
Yes, people upside down on a car deal do still pay that out of pocket. UConn is not paying this out of pocket.
The more correct analogy is someone quitting a job and the employer keeping the money for their wages already earned.
I think the analogy is close enough for BBS. There is no practical difference between the AAC writing a check to Uconn then Uconn writing a check to the AAC vs the AAC withholding the money. What ever that amount is, it's real money that would have been in Uconn's pocket if they were not leaving the AAC.
It's the same scenario with NCAA credits. Money they would have received if they were not leaving.
The unknowns are how much the yearly payments will be to the AAC. Depending on the AAC payout this year, they could be $500k or $2million. We also don't know if the BE fee is due up front or taken out of earnings. We don't know if Uconn is getting a full share or a partial for some period.
How about this analogy...
The dorky 30 year old guy that shows up to his high school's games wearing his letter jacket.
RE: UConn paying $17 mill to leave the AAC.. Louisville paid between $10-11 mill ...
(07-29-2019 06:59 PM)Wear Purple Wrote:
(07-29-2019 04:10 PM)8BitPirate Wrote: You guys dodged a bullet by choosing UL over UCONN.
Choosing UofL to replace Maryland was a no-brainer. The speed in which the ACC moved to invite the Cards into the club is further evidence of that.
I'd go as far as saying I doubt UConn was even a realistic topic of debate.
UConn was definitely a realistic option considered by school presidents, but ultimately they listened to the athletic departments and advisors. Louisville was totally an athletic decision and not an institutional one. That’s not a knock, it’s just what it is.
Arguably, Louisville has been more valuable than Pitt, but Louisville (nor WVU) were considered when Pitt was added because that was an institutional and athletic decision.
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UConn paying $17 mill to leave the AAC.. Louisville paid between $10-11 mill ...
