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: Oct 23, 2011
Posted on: February 11, 2012 9:10 am
 

Big East, WVU reach $20M settlement

Well i see that Buford IQ 62 still likes to make a idiot of his self.
As for riding into the sunset to the promise land, how right you are. As for your VT Chickens they get to stay in the All Cupcake Conference and see the same old sunrise and the same old dull sunset.

I don't know why a dummas!! would keep bringing up the same subject about WVU being turn down by the SEC and the ACC, when i have admitted to that. Except for the part about the paper work to the ACC. Show us a link to back up your comment about WVU submitting paper work to the ACC. Or shut the f!ck up.

Oh by the way how does it feel to be a fan of a school that had to cry for 30 years before the ACC finally decided to take them after being turn down, not once but twice.




Since: Jul 9, 2010
Posted on: February 11, 2012 8:45 am
 

Big East, WVU reach $20M settlement

ldl211..........You just can't leave cutting other conferences down, can you.  The matter of fact is the ACC and SEC did not want your school in their respective conference period, even though it has been documented earlier WVU submitted applications for an invitation to both. Get a life my man and ride on into the sunset to the promised-land.




Since: Oct 23, 2011
Posted on: February 11, 2012 8:32 am
 

Big East, WVU reach $20M settlement

It's been a great year for WVU football, and as a long time fan i couldn't be more pleased with everything that they have accomplished this year.  
 
1st. WVU gets a good Head Coach that is a great OC. Now if they can just find the right DC.
 
2nd. They reached their goal of winning the Big East. Even though it was a shared title.
 
3rd. Winning the Orange Bowl. And introduce the hottest play in college football, The Colorado School of Minds Fly Sweep.
 
4th. They win the Biggest Prize of all. A invite to the Big 12. 
 
One thing more. The Big 12 officials looks to be much more smarter than the ACC officials. They know to bring the 2012 Porsche {TCU} and the 2012 Ferrari {WVU} to the ballgame. And send the 1969 Ford Station Wagon {A&M} and the 1980 Cadillac Seville {Missouri} to the SEC junk yard. 




Since: Feb 7, 2011
Posted on: February 11, 2012 7:46 am
 

Big East, WVU reach $20M settlement

Big 12, here comes the Mountaineers!




Since: Jan 22, 2012
Posted on: February 11, 2012 7:12 am
 

Big East, WVU reach $20M settlement

Wow, the Mizzou fans sure are mad about WVU coming into the Big XII. Maybe they're opposed to the Mountaineer because he wears deer skin.  I didn't know Mizzou had so many PETA advocates!



Since: Oct 9, 2006
Posted on: February 11, 2012 12:52 am
 

Big East, WVU reach $20M settlement

Sorry but you need to wake up and realize that college football is totally separate from college academics.  Most of the programs have separate administrations and finances.  WVU happens to be one of the programs nationally that is completely self supporting.  Not too many exist.  That means the 11 million dollars will come from the WVU football program, not the WVU academic program.

Is the amount rediculous?  Yes, but WVU and the Big 12 will earn more than that figure in less than two years with a new TV contract and bowl money.  It seems like a huge figure at face value but it is really a drop in the bucket in today's college football.

Big time college football and basketball programs are big business.  The days of college athletics at their purest are long gone when it comes to these revenue sports.  Yes, universities are institutions for higher learning bur let's not stray too far from reality.  Once big money entered into the picture, academics took a back seat to revenue.  It's sad but college football only provides the players an opportunity at a quality education.  Revenue is the primary mandate!



Since: Jun 25, 2007
Posted on: February 10, 2012 11:40 pm
 

a retard,WVU has,won 3 BCS game in last 7 years.




Since: Jun 25, 2007
Posted on: February 10, 2012 11:36 pm
 

Big East, WVU reach $20M settlement




Since: Jun 11, 2011
Posted on: February 10, 2012 9:35 pm
 

Big East, WVU reach $20M settlement

"WVU pays the Big East $11 mil to leave.  Big XII pays the MWC $9 mil (by proxy of Big East) to get Boise out.  And everyone is happy.  Except Marinara Sauce. He ran out of meatballs.'

Don;t forget the lobsters , shrimp,clam,and the King crab legs.... Ole slobber jaws has got to keep his image while he contemplates his next great Bowel movement,,,, I ment move. 



Since: Apr 25, 2008
Posted on: February 10, 2012 8:12 pm
 

Big East, WVU reach $20M settlement

Why are all of the Mizzou fans so upset? 


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