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Blog Entry

Big East, WVU reach $20M settlement

Posted on: February 9, 2012 10:00 pm
Edited on: February 10, 2012 9:41 am
 

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.

Comments

Since: Jul 18, 2009
Posted on: February 10, 2012 10:58 am
 

Big East, WVU reach $20M settlement

Don't blame West Virginia.  Blame Missouri for running out so quick.  If they would have stayed one more year before going to the SEC, then all of this would have been uneccessary. 



Since: Mar 20, 2008
Posted on: February 10, 2012 10:57 am
 

Big East, WVU reach $20M settlement

Bernie, are you still sleeping with your sister?  Even with the syph? To each his own.

Anyway, with all the oil, gas, and coal in the state, I do believe you are mistaken, there are probably far more millionaires per capita in West Virginia than most states.  Go figure!  Maybe you stereotype everything you do?

 



Since: Apr 13, 2008
Posted on: February 10, 2012 10:57 am
 

Big East, WVU reach $20M settlement

Once Charles Dolan dies,Rutgers will be in the Big 10.



Since: Feb 8, 2007
Posted on: February 10, 2012 10:54 am
 

Big East, WVU reach $20M settlement

hahaha so funny, Idiot



Since: Oct 20, 2006
Posted on: February 10, 2012 10:53 am
 

Big East, WVU reach $20M settlement

Lots of misguided statements on here.  Hard to address all of them. I'll try one. secrocks 1 -

If Clemson and FSU didn't go to the SEC they sure aren't going to the Big 12
 It's tough to have conversation with people who ignore facts.  Five SEC schools had a pact to veto Clemson, FSU, GT, Louisville, and VT because they didn't want other schools in their state to take away from their TV following.  Thosee schools didn't move to the SEC because the SEC would not get 75% of their members to approve them.



Since: Feb 8, 2007
Posted on: February 10, 2012 10:53 am
 

Big East, WVU reach $20M settlement

It's a great day to be a Mountaineer, thank God we are free. Big 12 here we come.  I so can't wait to start playing all you guys, get ready for Mountaineer Madness



Since: Mar 20, 2008
Posted on: February 10, 2012 10:34 am
 

Big East, WVU reach $20M settlement

The $20 million is broken down as such:

$5 million exit fee for West Virginia
$5 million exit fee for Boise to join the BE in 2012
$1 million payment from West Virginia to BE like the other 9 Big XII teams.
$9 million payment from the Big XII teams ($1 million per school)<span class="Apple-tab-span" style="white-space: pre;">

<span style="white-space: pre;">Looks like a good deal all around for both conferences and for Boise State.



Since: Oct 30, 2007
Posted on: February 10, 2012 10:31 am
 

Big East, WVU reach $20M settlement

$20 mil. Thats twice the net worth of every citizen in West Virgini. Good thing WVU has 95% out of state students. The Big 12 really screwed the pooch adding this school.



Since: Sep 5, 2011
Posted on: February 10, 2012 10:04 am
 

Big East, WVU reach $20M settlement

Glad to see an agreement.  But think WVU is making higher payments just to be able move on with Big12 scheduling.

There is an old saying "anything that weaken my enemy (or competitor) is in my best interest".  What better way to weaken the SEC and Big1G than to establish camps of supporters for Big12 teams in their territory? 

It's hard for Louisville and Cin to play Big East football teams and say they are offering a competitive game to SEC and Big1G games.

But what if they joined the Big12?  And started having games vs opponents like Oklahoma, Texas, and Oklahoma State?

Would this help to lessen support for the SEC and Big1G in those states?  And could any of that support then be captured by Louisville and Cin?

Plus WVU would have 2 short road trip games with these opponents.

And these 2 opponents are in 2 states with higher populations.  These are states, where really the SEC and Big1G have been unchallenged in their levels of football competition.  



Since: Dec 7, 2011
Posted on: February 10, 2012 9:40 am
 

Big East, WVU reach $20M settlement

WVU just paid for Boise to join the BE a year early. It should've just paid the WAC directly. It's good to see WVU leave; it wasn't a great BE fit but that is hardly relevant any more. Let's just hope all these money-grabbing schools and conferences take a little respite now, although I have a feeling that Cincy and Louisville are knocking on a few doors. This will start the domino raiding all ove again.


The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com