MU_Iceman
12-14-2012, 10:15 PM
http://www.usatoday.com/story/sports/ncaab/bigeast/2012/12/14/mike-aresco-big-east-conference-catholic-basketball-split/1770441/
Mark Blaudschun, Special for USA TODAY Sports6:46p.m. EST December 14, 2012
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2012-12-14_Aresco_Optimistic
(Photo: Mel Evans, Associated Press)
With a decision made to leave the Big East Conference, the Catholic schools that are planning to create their own basketball conference are dealing with one of the main issues behind the move: money.
According to a person familiar with the talks that are being held but who is not authorized to speak, a plan to immediately distribute the exit fee money collected from schools that have left or in the process of leaving -- West Virginia, Pittsburgh, Syracuse, Louisville and Rutgers -- is being seriously discussed. The person spoke to USA TODAY Sports on the condition of anonymity because of the sensitivity of the matter.
In such a scenario the money -- estimated to be more than $20 million -- would be distributed among the 10 remaining schools with full voting privileges in the Big East -- St. John's, Villanova, Providence, Georgetown, Seton Hall, Marquette, DePaul, Cincinnati, South Florida and Connecticut. Eventually, the exit fee money will double that total, but much of that is being paid in installments and some of it, in the case of Rutgers, is being disputed.
The exit fee distribution does two things: It allows the seven Catholic schools to take a large financial bonus and still walk away from the league; and it prevents the total amount from being diluted when the Big East expands to a 12-team conference in football on July 1.
Mark Blaudschun, Special for USA TODAY Sports6:46p.m. EST December 14, 2012
0 CommentsShare
2012-12-14_Aresco_Optimistic
(Photo: Mel Evans, Associated Press)
With a decision made to leave the Big East Conference, the Catholic schools that are planning to create their own basketball conference are dealing with one of the main issues behind the move: money.
According to a person familiar with the talks that are being held but who is not authorized to speak, a plan to immediately distribute the exit fee money collected from schools that have left or in the process of leaving -- West Virginia, Pittsburgh, Syracuse, Louisville and Rutgers -- is being seriously discussed. The person spoke to USA TODAY Sports on the condition of anonymity because of the sensitivity of the matter.
In such a scenario the money -- estimated to be more than $20 million -- would be distributed among the 10 remaining schools with full voting privileges in the Big East -- St. John's, Villanova, Providence, Georgetown, Seton Hall, Marquette, DePaul, Cincinnati, South Florida and Connecticut. Eventually, the exit fee money will double that total, but much of that is being paid in installments and some of it, in the case of Rutgers, is being disputed.
The exit fee distribution does two things: It allows the seven Catholic schools to take a large financial bonus and still walk away from the league; and it prevents the total amount from being diluted when the Big East expands to a 12-team conference in football on July 1.