Blog Entry

Big East, WVU near $20 million settlement

Posted on: February 8, 2012 4:07 pm
Edited on: February 8, 2012 9:15 pm
 

West Virginia and the Big East Conference are nearing agreement on a settlement worth at least $20 million that would resolve all issues between both parties, college football industry sources told CBSSports.com.

The Mountaineers will join the Big 12 for the 2012-13 school year. However, in a bizarre twist, sources told CBSSports.com that West Virginia officials have contacted future Big East members to see if one could join in 2012 instead of 2013.

The reason is that with West Virginia’s departure to the Big 12, the Big East will be left with only seven football members this fall. Without an immediate replacement for West Virginia, the remaining Big East schools will be scrambling to find a 12th opponent. It’s unknown why West Virginia would assist a league that WVU athletic director Oliver Luck compared to “a ship … seriously going down,” except that it could lower West Virginia’s buyout, sources said.

Luck did not immediately respond to an e-mail seeking comment.

Despite lawsuits filed by West Virginia and the Big East, West Virginia still plans to join the Big 12 this year. The Big 12 has already sent its 2012 schedule, with West Virginia on it, to its television partners and is expected to publicly release the schedule this week.

While WVU has always planned to join in 2012, Big East commissioner John Marinatto has stated on multiple occasions, including Wednesday, that the league would require West Virginia to honor the league’s 27-month exit agreement. However, sources said privately the league has conceded they can’t stop West Virginia from leaving.

The Big East, though, likely would receive substantial monetary damages. Even Florida State athletic director Randy Spetman said his school might seek liquidated damages against WVU after WVU canceled a Sept. 8 game at Florida State, the Orlando Sentinel reported.

The $20 million settlement figure is believed to be contingent on the Big East being able to get a replacement for West Virginia in 2012 and certainly could increase if it had to play with only seven members in 2012. It’s unknown if that $20 million figure includes the $5 million West Virginia paid upon notifying the Big East last October it was bolting to the Big 12.

Acting Big 12 commissioner Chuck Neinas recently told the West Virginia media that the Big 12 would consider assisting the Mountaineers financially with their exit fee, if the school asked.

Marinatto, who was on a teleconference Wednesday to announce Memphis joining the league in 2013, would not comment on whether the Big East is trying to bring in a member in 2012 or if they would help a future member financially to leave its current conference home.

“The question is related to the impending litigation we're involved in on two fronts," Marinatto said. "It would be inappropriate for me to get into specifics about all of that at this point. I'm going to not talk about that."

Boise State, San Diego State, UCF, SMU, Houston and Memphis are scheduled to join the Big East in 2013 with Navy coming on board in 2015. Marinatto added the Big East would not stage a conference championship football game until 2015 when Navy would - at least for now - become its 12th football playing member.

Also, Wednesday night, the Newark Star-Ledger reported that if the Big East does not find a replacement for West Virginia this fall, then Syracuse and Rutgers could play each other twice with both games counting in the conference standings. One game would be played at Rutgers and the second game possibly at Yankee Stadium.
Comments

Since: Aug 30, 2009
Posted on: February 8, 2012 6:23 pm
 

Big East, WVU near $20 million settlement

Catch up McMurphy - WVU will pay roughly 11 mil and let the BE keep what they owe WVU from final 4 and bowl appearances.



Since: Jan 22, 2012
Posted on: February 8, 2012 6:17 pm
 

Big East, WVU near $20 million settlement

Codyb...Exactly what T.V. market does West Virginia bring with them to the Big XII?? Just wondering...at least Pitt brings in the Pittsburgh market which will watch Pitt...as well as fill Heinz Field when there is a product worth watching.
I'm not Cody, but WVU brings the Pittsburgh market.  Yes, Morgantown, WV is part of the Pittsburgh market much the same way as Piscataway, NJ is in the NYC market.  As far as Heinz field, yes Pitt plays there to an empty stadium.  You can get tickets for as little as $1 to pretty much any home game.  Pitt has NO FOLLOWING in Pittsburgh aside from alumni.  I know, I live in Pittsburgh.



Since: Oct 31, 2011
Posted on: February 8, 2012 6:06 pm
 

Big East, WVU near $20 million settlement

Harrison its not that bring a tv markett, its that they are a tv draw, they are usually Big East game of the week and teams look forward to playing WVU week as a test game, Pitt used to be, syracuse not in a long time. WVU was markettable, Louisville and Cincy are there only decent wathes left for football until BSU and maybe Houston.




Since: Feb 8, 2012
Posted on: February 8, 2012 6:05 pm
 

Big East, WVU near $20 million settlement

the cold hard facts are that the wall street journal is owned by rupert murdoch [think fox news]. rupert is a real paragon of truth and honesty.
the journal was certainly on top of the crash weren't they?
check some other sources .or you keep keep getting your info from media owned by a foreigner .




Since: Sep 28, 2008
Posted on: February 8, 2012 6:04 pm
 

Big East, WVU near $20 million settlement

The difference would be that Syracuse and Pitt brought nothing financially to the league, good BB teams usually but no one watching besides in tourney. WVU FB actually had some tv draw and hurt the strength of fB conference more then the other two who stuggle to combine for 10 wins. I hope Temple just moves in quick and then Air Force can come in when Navy does in 2015 to make 14 FB teams.
Lets be honest here...

Do you think any Big East school or any future Big East school will bring in that much revenue?

Eight of the sixteen current schools don't even have a football program. Of those eight basketball schools, many of them barely draw any fan support, don't win, and are rarely ever on TV with the only instances being when they play against a top program. Programs like Seton Hall, Depaul, Providence and well, I guess 'Nova is good but they don't draw that much fan support for the majority of their games.

I just listed off four schools that don't even have a football program, and then on top of that, barely get any attendance revenue and excluding Villanova, very rarely ever get TV time, which in turn, will result in almost zero revenue.

Notre Dame on the other hand, has their own greedy, money making football program as an independent. Do you honestly think Notre Dame basketball pulls in as much revenue as Syracuse or Pitt does? I highly doubt it. Especially when Syracuse leads the Big East in attendance every year in basketball.

Syracuse and Pitt are a crucial part of the basketball revenue, which certainly isn't as much as the football revenue, but I'm sure the Big East will miss these two programs in basketball.



On the other hand, do you think the Big East bringing in schools for football like Memphis, Army, etc are going to bring in more revenue than what the conference is currently getting for football?  I don't think so. The Boise State addition doesn't even make up for the loss of WVU.  The Big East is adding teams, but none are really worth watching or going to see in person. If anything, the Big East should be losing money because the conference is going to be worse off after Syracuse, Pitt and WVU leave. The conference will have to divide the same or less revenue to more teams. That in return, will mean less money for the teams that stay in the Big East after all of this movement happens. 



Since: Sep 2, 2011
Posted on: February 8, 2012 5:54 pm
 

Big East, WVU near $20 million settlement

Big East had to save its butt in football, Memphis is a basketball move to keeps those schools happy and to let them know they weren't forgotten. West Virginia is a huge blow, the best football team in the conference since Miami, BC and VT bolted. Cuse and Pitt are the 2 most prominent hoops programs, with UConn on their heels. The Big East is still a mess and WVU is doing well to get out at whatever cost. Cuse and Pitt can wait while they hope to rebuild their football programs before heading to the ACC.



Since: Apr 17, 2009
Posted on: February 8, 2012 5:54 pm
 

Big East, WVU near $20 million settlement

Codyb...Exactly what T.V. market does West Virginia bring with them to the Big XII?? Just wondering...at least Pitt brings in the Pittsburgh market which will watch Pitt...as well as fill Heinz Field when there is a product worth watching.



Since: Oct 31, 2011
Posted on: February 8, 2012 5:28 pm
 

Big East, WVU near $20 million settlement

The difference would be that Syracuse and Pitt brought nothing financially to the league, good BB teams usually but no one watching besides in tourney. WVU FB actually had some tv draw and hurt the strength of fB conference more then the other two who stuggle to combine for 10 wins. I hope Temple just moves in quick and then Air Force can come in when Navy does in 2015 to make 14 FB teams.




Since: Sep 25, 2006
Posted on: February 8, 2012 5:28 pm
 

Big East, WVU near $20 million settlement

if WVU negotiates $20mm and then Pitt and Syracuse decide to pay $20mm a piece this could be very profitable for the Big East on the short term.  Losing the upstate NY market and Pittsburgh market is tough though. 



Since: Dec 10, 2009
Posted on: February 8, 2012 5:22 pm
 

Big East, WVU near $20 million settlement



$20M to the Big East

$9M to Boise State for their exit fee

$10M to the MWC to get a replacement.


$39M should about cover it


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