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UConn pays it's first 2.5 million toward exit fee

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D_I8fZgXkAE1TW5.jpg:large

looks like we'll at least be getting our 10 million...

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I see they’re taking the installment plan approach. 

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No mention of amount (not that the 2.5 would be a big deal), or what they hope/expect the final number to be.  But a desire to discuss terms is.

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University of Southern Florida?

you would think after 15 years sharing a conference with USF they would get their name right...

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2 minutes ago, RSF said:

No mention of amount (not that the 2.5 would be a big deal), or what they hope/expect the final number to be.  But a desire to discuss terms is.

10 million isn't that big of an amount...but we'll still cash that check

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7 minutes ago, UofMTigers said:

University of Southern Florida?

you would think after 15 years sharing a conference with USF they would get their name right...

but honestly who gives a shit about South Florida, here on the west coast we pay no mind to directional schools. 

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3 minutes ago, SangerBulldog said:

but honestly who gives a shit about South Florida, here on the west coast we pay no mind to directional schools. 

USC seems to be a pretty big deal :P

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1 minute ago, bigd said:

USC seems to be a pretty big deal :P

devils advocate USC is but also they had a national championship taken away from them and they still have national championships. 

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they also paid 3.5 million to the BE.

I bet they end up staying 2020-21 to avoid having to pay the AAC more than 10 million.

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11 minutes ago, UofMTigers said:

they also paid 3.5 million to the BE.

I bet they end up staying 2020-21 to avoid having to pay the AAC more than 10 million.

Would also help with their scheduling issue.

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2 hours ago, UofMTigers said:

they also paid 3.5 million to the BE.

I bet they end up staying 2020-21 to avoid having to pay the AAC more than 10 million.

The AAC won't collect the full $10M.  CU was supposed to pay about $14M to leave the Big 12 but paid about half of that.  Nebraska also paid about $9M instead of that same $14M amount.  That's normal for things like that.

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11 minutes ago, Jalapeno said:

The AAC won't collect the full $10M.  CU was supposed to pay about $14M to leave the Big 12 but paid about half of that.  Nebraska also paid about $9M instead of that same $14M amount.  That's normal for things like that.

if I remember right the Big 12 didn't have set exit fees... it was based on estimated damage to the TV contract and date of departure...moreover, not only did they require 27 month notice but also something like only 80% of a share in the first lame duck season and 70% of a share in the second lame duck season. I think that is what lead to the negotiated settlement.

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19 minutes ago, UofMTigers said:

if I remember right the Big 12 didn't have set exit fees... it was based on estimated damage to the TV contract and date of departure...moreover, not only did they require 27 month notice but also something like only 80% of a share in the first lame duck season and 70% of a share in the second lame duck season. I think that is what lead to the negotiated settlement.

The Big 12 did have those in their bylaws.  Usually a percentage depending on what year it was in a five year window also tied to revenues.

And it will be a negotiated settlement between UConn and the AAC.  That letter posted by the UConn president is going to be helpful in UConn's favor because the AAC has to decide how long they want to keep UConn and they might reduce the exit fees as a "payment" for UConn to leave ASAP.  Conferences do not like having lame duck members sitting around since it can be damaging to the conference's brand.

At least you know there is a down payment on a new turf football field for your team coming.

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5 minutes ago, Jalapeno said:

And it will be a negotiated settlement between UConn and the AAC.  That letter posted by the UConn president is going to be helpful in UConn's favor because the AAC has to decide how long they want to keep UConn and they might reduce the exit fees as a "payment" for UConn to leave ASAP.  Conferences do not like having lame duck members sitting around since it can be damaging to the conference's brand.

 

This.  The AAC didnt put the 27 month timeframe for this type of move.  They did for those looking to move to a P5 conference, schools that will be willing to pay to get out early (and may suddenly have the wherewithal to do so).  In this case BOTH sides have reason to want to get out early, so both will have incentive to negotiate.  And the amount of the final fee will depend on who blinks 1st.  Now, I know the AAC fans think Don Aresco walks on water, but the fact that the withdrawal letter explicitly states 'no later then 7/1/2022' (along with similar language in the BE/UConn agreement)suggests that they are willing to exhibit a little patience to get the fee reduced.  Or, at the very least, spread out enough the real value of the fee is reduced.  Plus, as mentioned earlier, UConn could use that patience to get their shit together regarding football.  Additionally, we know that the UConn athletic dept isnt exactly printing money these days, so its certainly in their best interest to play a little hardball.

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4 minutes ago, RSF said:

This.  The AAC didnt put the 27 month timeframe for this type of move.  They did for those looking to move to a P5 conference, schools that will be willing to pay to get out early (and may suddenly have the wherewithal to do so).  In this case BOTH sides have reason to want to get out early, so both will have incentive to negotiate.  And the amount of the final fee will depend on who blinks 1st.  Now, I know the AAC fans think Don Aresco walks on water, but the fact that the withdrawal letter explicitly states 'no later then 7/1/2022' (along with similar language in the BE/UConn agreement)suggests that they are willing to exhibit a little patience to get the fee reduced.  Or, at the very least, spread out enough the real value of the fee is reduced.  Plus, as mentioned earlier, UConn could use that patience to get their shit together regarding football.  Additionally, we know that the UConn athletic dept isnt exactly printing money these days, so its certainly in their best interest to play a little hardball.

Yea I think UConn is ok with waiting if it gets them a better deal. If they stay another year it helps them kick the can down the road in regards to deciding what to do with football. The American, on the other hand, probably wants UConn gone ASAP. 

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as I understand it's 10 million of they give 27 month notice...but more if they leave before that.

just 3 more payments and we're good

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3 hours ago, UofMTigers said:

as I understand it's 10 million of they give 27 month notice...but more if they leave before that.

just 3 more payments and we're good

Haven’t most of these exit fees during all this realignment been negotiated down? Why are you so confident that this will be so cut and dry?

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7 hours ago, SangerBulldog said:

but honestly who gives a shit about South Florida, here on the west coast we pay no mind to directional schools. 

Lol a lot more than Fresno State...

I can't remember, which one of the 50 states is Fresno?

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4 hours ago, RSF said:

This.  The AAC didnt put the 27 month timeframe for this type of move.  They did for those looking to move to a P5 conference, schools that will be willing to pay to get out early (and may suddenly have the wherewithal to do so).  In this case BOTH sides have reason to want to get out early, so both will have incentive to negotiate.  And the amount of the final fee will depend on who blinks 1st.  Now, I know the AAC fans think Don Aresco walks on water, but the fact that the withdrawal letter explicitly states 'no later then 7/1/2022' (along with similar language in the BE/UConn agreement)suggests that they are willing to exhibit a little patience to get the fee reduced.  Or, at the very least, spread out enough the real value of the fee is reduced.  Plus, as mentioned earlier, UConn could use that patience to get their shit together regarding football.  Additionally, we know that the UConn athletic dept isnt exactly printing money these days, so its certainly in their best interest to play a little hardball.

You do realize that every school has paid the full exit fee.  The only exception was the C7, and that was because they had a previously agreed upon separation agreement that was hashed out years before by the old Big East football and basketball schools.  In addition to playing the full exit fee---every single school that left the AAC prior to 27 months paid MORE than the minimum exit fee,  The exit fee would probably be around 11-12 million if they leave after this season.  My guess is the exit fee will actually end up being higher than that, but will allow UConn sports to join the Big East in 2020-2021, but will allow UConn football to hang around in the AAC one extra season (2020-2021).   

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