Big East, WVU reach $20M settlement

West Virginia and the Big East Conference have reached a verbal agreement that would compensate the Big East $20 million and allow the Mountaineers to join the Big 12 Conference this season, college football industry sources told CBSSports.com.

On Wednesday, CBSSports.com first reported the Big East Conference and West Virginia were nearing a settlement of at least $20 million that would resolve all issues between the two parties. That settlement was reached one day later.

"It probably will be officially done [on Friday]," a source told CBSSports.com.

The Charleston Daily Mail first reported Thursday night that West Virginia and the Big East had reached a $20 million “conditional agreement.” West Virginia must pay the Big East $11 million and the Big 12 Conference would be responsible for the remaining $9 million, the Daily Mail reported. Acting Big 12 commissioner Chuck Neinas said recently the Big 12 would consider assisting the Mountaineers with their exit fees, if they asked.

It’s unknown if the $20 million is in addition to, or includes, the $5 million exit fee that West Virginia initially paid when it announced in October it was withdrawing from the Big East to join the Big 12 in 2012 and would not honor the league’s 27-month notice requirement before leaving.

Besides the $11 million it must pay the Big East, West Virginia also owes Florida State $500,000 after last week canceling a Sept. 8 game in Tallahassee. FSU athletic director Randy Spetman told the Orlando Sentinelhis school might also seek liquidated damages against WVU if a comparable opponent can not be found.

Last week the Big 12 Conference indicated it had provided its television partners with its 2012 football schedule and that West Virginia was on it. The league also is expected to release the schedule to the public on Friday.

CBSSports.com previously reported that West Virginia officials had contacted future Big East members to see if one could join the Big East in 2012, instead of 2013, to lower the amount of financial hardship to the league and also likely reduce the amount of West Virginia’s settlement with the league.

The Daily Mail reported that West Virginia’s $20 million settlement would not increase if the Big East is unable to find a replacement for the Mountaineers this fall.

Boise State is the most likely candidate to join the Big East a year early. Sources told CBSSports.com that Boise State has had discussions with the Western Athletic Conference to determine if its Olympic sports teams could join the WAC in 2012 so the Broncos’ football program could join the Big East this fall.

Boise State would have to pay the Mountain West about $7 million to $9 million to join the Big East in 2012, instead of 2013. Last week, Boise State president Bob Kustra told the Idaho Statesman it was "too late" for the Broncos to join the Big East in 2012. However, sources said they were skeptical of Kustra's comments and believe Boise State will be playing in the Big East this fall.

On Wednesday’s teleconference to announce Memphis as the Big East’s newest member, Big East commissioner John Marinatto would not comment on if the league would have a new team added for 2012 or when he expected the issues between the league and West Virginia to be resolved.

With the legal issues behind them, the Mountaineers officially will join the 10-team Big 12 Conference on July 1 along with TCU. The remaining Big 12 members are: Baylor, Kansas, Kansas State, Iowa State, Oklahoma, Oklahoma State, Texas and Texas Tech.

vmi3301 Since: Sep 20, 2006	Posted on: March 28, 2012 11:49 am Big East, WVU reach $20M settlement The Big East needs to take some of that money and pay the MWC to let Boise State join early, before they mess around and lose them. There is talk in Boise of just staying in the MWC/C-USA super conference if the BCS does away with the AQ status. If the Big East is too cheap, they might lose another big name in their conference besides moderately competitive WVU... [ Reply to Comment ]
Buford62 Since: Jul 9, 2010	Posted on: February 20, 2012 1:18 pm Big East, WVU reach $20M settlement It is evident that WVU left many of it's conference and regional friends in a Scheduling Bind, when WVU pulled it's diehard antics to get to the BIGXII by 2011. No respect from this classless bunch of misfits ! And as the saying goes; "what goes around comes around". Like a hustler in the night, WVU has made it's bed, now all their folks will have to lay in it after the honeymoon is over. Get your tickets now on a west bound 737, the airlines will just love you WVU darlings. [ Reply to Comment ]
ldl21l Since: Oct 23, 2011	Posted on: February 17, 2012 4:31 am Big East, WVU reach $20M settlement Well it’s time for the Porsche {WVU} to fire up and head west in a trail of dust and leave this slow sinking Carport {Big East}. Sorry Pinto {Pitt} & Volkswagen {Syracuse} you will have to wait till next year to chug along down south. As you travel south don't forget to stop in and say hi to your long lost friend Chevy Vega {Virginia Tech} and pass around a cold quart of Pennzoil. Don't drink all of your Pennzoil you will need some for the trip. When you finally make it to North Carolina you can help you new found friend 1968 Datsun {Duke} do a complete overhaul. Oh by the way next time you see the Orange Dodge Dart {Clemson} tell them to come on back and see us some time. We promise not to put 70 on them the next game, probably more like 80. Bye Bye now [ Reply to Comment ]
ldl21l Since: Oct 23, 2011	Posted on: February 17, 2012 4:31 am Big East, WVU reach $20M settlement Well it’s time for the Porsche {WVU} to fire up and head west in a trail of dust and leave this slow sinking Carport {Big East}. Sorry Pinto {Pitt} & Volkswagen {Syracuse} you will have to wait till next year to chug along down south. As you travel south don't forget to stop in and say hi to your long lost friend Chevy Vega {Virginia Tech} and pass around a cold quart of Pennzoil. Don't drink all of your Pennzoil you will need some for the trip. When you finally make it to North Carolina you can help you new found friend 1968 Datsun {Duke} do a complete overhaul. Oh by the way next time you see the Orange Dodge Dart {Clemson} tell them to come on back and see us some time. We promise not to put 70 on them the next game, probably more like 80. [ Reply to Comment ]
Buford62 Since: Jul 9, 2010	Posted on: February 16, 2012 5:26 pm Big East, WVU reach $20M settlement Trackernot.........you have a good post and there is some overlap within some media markets. With that said, PITT is very happy to be heading to the ACC along with SYRACUSE. PITT, is much stronger in the overall Pittsburgh media market base on Neilsen and Allbritton ratings and adds that strong TV/Radio Market to future ACC games. Both PITT and SYRACUSE will rekindle their rivalry with VIRGINIA TECH, MIAMI, BOSTON COLLEGE, MARYLAND, VIRGINIA. PITT and 'CUSE will also have 10 of the ACC universities within 400 miles of their school, which saves huge sums for them on travel expenses. Also, with SYRACUSE, the ACC will virtually have the entire media market for New York. The ACC was founded 60 years ago, and has earned an excellent track record with Academic and Athletic Excellence. The current 12 ACC member Universities are very happy with the conference and what the future has in store with PITT and SYRACUSE coming aboard in 2013. PITT has already been added to the Coastal Division and SYRACUSE will be in the Atlantic Division. One of the strong points in the ACC 14 school membership, is all the schools will play their conference games in the Eastern Time Zone, which works well for teams traveling. [ Reply to Comment ]
ldl21l Since: Oct 23, 2011	Posted on: February 16, 2012 5:20 pm Big East, WVU reach $20M settlement Well i see that Buford IQ 62 continues to show how immature he is. He must be a 60 year old idiot with a mind of a 13 year old . Make no mistake, come Oct. 5 2012 i will be on Lake Fork and on Oct.6 2012 I'll be at the Texas game. While am having a great time, a imbecile like you will still be sitting in front of your computer making a complete fool of your self. Get a life you trolling fool. OH by they way, it is true that Virginia Tech Chickens were turn down not once but twice to the ACC, but also they were turned down once also by the Big East when they wanted to join in B-Ball back in the 80's, DAM!!! that is pretty bad. Oh that drink that you make and drink, you better quit drinking that crap it is deteriorating your mind. [ Reply to Comment ]
trackernot Since: Aug 22, 2006	Posted on: February 16, 2012 3:03 am Big East, WVU reach $20M settlement As of right now, that market is going to be split up between 2 conferences, thereby dilluting it. If you look at the entire State (especially if PSU can't recover), then the BIG XII would have a more solid presence in the entire State. That would actually enlarge the market as a whole. Its the same way with Missouri. Mizzou only gives the SEC half of the State, since Kansas basketball splits KC. Thats kind of my point, especially since the BIG XII has had 0 presence in Pennsylvania. With WVU, it only gets a partial market. I'm not saying Pitt would give the entire State to the BIG XII, but it would be a bigger market than Cinci. Just like Louisville would be a big market, but it would be even bigger if you add Cinci. 2 small interconnected regions combined, makes it more valuable as a whole. Thats why you hear most people say Louisville and Cinci in the same breath of future BIG XII expansion. Thats what would happen if you add Pitt with WVU. So, Pitt would be just as valuable as Louisville and Cinci combined. That would allow another team from a different market. FSU fits that description ideally. [ Reply to Comment ]
Mac Bridger Since: Jan 22, 2012	Posted on: February 15, 2012 11:00 pm Big East, WVU reach $20M settlement WVU and Pitt are in the same market though. So Pitt wouldn't add anything marketwise. [ Reply to Comment ]
trackernot Since: Aug 22, 2006	Posted on: February 15, 2012 3:12 am BIG XII's next 2 programs??? FSU & PITT What is the reality that FSU is upset with the ACC expansion? If so, the BIG XII goes after FSU. Reality= FSU & the State of FL would be better for the BIG XII, than Notre Dame & BYU combined. Pitt is a very balanced program. Pennsylvania used to be a recruiting meca, and PSU could be down for good. Everyone is saying Louisville & Cinci as #'s 11 & 12. I say no way! FSU and Pitt would make the BIG XII diverse for eternity (think of the T.V. market reach). The BIG XII would then be expanding into the PAC-12, vs the other way around. Right now, the top recruits are from the Carolinas to Georgia to FL. The SEC has essentially put most of their money into that staying true for decades. That region will always be strong, but the other 4 big regions are somewhat down right now. If you look at history, thats what you see. THIS IS SPECULATION, but who ever thought the current situation would be what it is?! [ Reply to Comment ]
Buford62 Since: Jul 9, 2010	Posted on: February 13, 2012 1:02 pm Big East, WVU reach $20M settlement ldl211............It has been determined that you can't walk and chew gum or tobacco at the same time, let alone have the wherwithal to catch a 10 lb. large mouth bass in TEXAS. In fact, it is doubtful you can come up with enough coins to buy an out of state fishing license in the Great State of TEXAS ! What you need to do is take a good drink that can help you arrive at your senses out in TEXAS; so here goes. ldl211 take an 8 oz. water glass, and add 2 oz. of keroseen, 2 oz. of Maalox, 1 oz. of JP4 jet fuel, 1 oz. of coke, and 1 oz. of Popeye's puree spiniach; stir all this together, and guzzel until completely taken, and then wait for your wonderful ride to TEXAS, OKLAHOMA, KANAS, and IOWA STATE. [ Reply to Comment ]

Games

See All Games

Visit App Central

Fantasy News and Analysis

Brett McMurphy

McMurphy's Law