WVU Draws "Get Out Of Jail" Card, Nearing $20M Settlement With Big East To Join Big XII In 2012
by Country Roads on Feb 8, 2012 5:23 PM EST
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Brett McMurphy, of CBS Sports, is reporting that WVU and the Big East are closing in on reaching a settlement of the pending lawsuits in West Virginia and Rhode Island. Says McMurphy:
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.
Some pundits are questioning how and why WVU, whose officials have continually disparaged the Big East and its leadership, could attempt to convince other schools to join a year early. I think the answer is fairly obvious. Those other schools are joining the Big East anyway because they see it as a better position than their current one. Even without WVU, Pitt and Syracuse, the Big East will be a better conference than any current non-AQ league. It will generate more TV revenue, and it will command a larger audience. So why not join up ahead of schedule, especially when Pitt and Syracuse will still be in the league for a year?
As for the buyout number, $20 million is a hefty pricetag to pay. Heck, Mountaineer field cost $22 million (in 1980) and the new basketball practice facility costs $24 million. But is it worth it? Absolutely. The amount of revenue WVU will generate over the long haul due to its membership in the Big XII will be far more than $20 million. And really, WVU needed to get out as fast as it could, no matter the price.
From here on, it's going to be a matter of keeping up with the Texases and Oklahomas of the world to compete at an elite level. Once WVU has paid off its settlement, it can move forward toward that goal.
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Be the best $20 million ever spent.
West Virginia fans hate everybody. They remember every snub and joke and bit of snark. And they never forgive, and they never, ever forget. In other words, they're a lot like West Virginians in general.
It’s 11 million according to Jenn Menendez of the PPG. I don’t see the number being 20 mill. No way (I hope).
just a thought
but the difference could be forfeiture of monies owed…just a guess
or
either one or both of them are wrong and we’ll find out soon enough
WVU could be paying $11 million.
But the total value of the settlement could still be $20 million if you factor in money already paid, money the Big East keeps from bowl and NCAA tourney revenue, money paid by the Big XII, and money paid by WVU to (for example) the Mountain West to get Boise State into the Big East for 2012.
www.smokingmusket.com
@CountryRoadsWV
by Country Roads on Feb 9, 2012 9:51 AM EST up reply actions
This
seems more likely in my mind. When I first heard $11milion I was really suprised we were getting off that easily.
"that place laid the foundation for who I am. A lot of outsiders make fun of it and say negative things about West Virginia. Fuck them" - Jerry West
by MountaineerAirman on Feb 9, 2012 10:27 AM EST up reply actions
My bet is that the Big XII will be pitching in at least 50% of this amount
They would stand to lose a lot more than that from their television contracts without a tenth member in 2012. As an accountant, a one or two year return on investment is outstanding especially on a $20 million investment!
We're bound by a bond not completely understood by those outside, try as we might to explain it to them.
I think
We probably gave up a real shot at a national championship by going to the big 12 early. I hope it’s worth it.
Welcome and be prepared for UT to help you into THIS! :-)
http://i1142.photobucket.com/albums/n611/bfpapa6/001.jpg
"Statistics are for losers, I like winning games!" Will Muschamp
"Package Deal" to leave the BE
The final deal will be for WVU to continue to play some BE teams (that are having a hard time finding a replacement for WVU on their schedule) and pay an exit fee to the BE. Probably some payments to each school WVU will no longer be playing to help cover their cost in paying guarantee money for their a new opponent.
WVU joins the Big12 and plays BE teams as outside the conference games. Think not? WVU just cancelled playing Florida State. Now if they can drop Marshall and teams like East Carolina and Norfolk State, then WVU will be able to play more BE school – at least until new opponents can be found for them.
It doesn't work that way.
WVU dropped Florida State because we are going to have a 9 game conference slate next season in the Big 12 as opposted to a 7 game conference slate like we had in the Big East. There wasn’t enough room on the schedule for FSU. You can’t just “drop” the Marshall game. It’s a political tool. Hopefully this next game will be the last, however.
WVU isn’t going to drop teams like Maryland, either. Maryland is a longstanding rivalry for WVU that, while it won’t happen every year, you won’t find WVU cancelling it, either.. After we play UMD in Morgantown next year, we play them at M&T Bank Stadium (home of the Ravens) the next year. We’re not dropping JMU because we’re playing them at FedEx Field, and we’re gonna make a ton of money off of it.
"that place laid the foundation for who I am. A lot of outsiders make fun of it and say negative things about West Virginia. Fuck them" - Jerry West
by MountaineerAirman on Feb 9, 2012 8:30 AM EST up reply actions
Still
If the Big 12 was willing to tweak its schedule to help match the Big 12 teams with schedule openings (Oklahoma has two and Oklahoma State one, according to fbschedules.com) to Big East schools, it would be helpful.
I agree.
and it wouldn’t hurt anyones strength of schedule.
"that place laid the foundation for who I am. A lot of outsiders make fun of it and say negative things about West Virginia. Fuck them" - Jerry West
by MountaineerAirman on Feb 10, 2012 6:46 AM EST up reply actions
Happy to have you
As a fan of the closest potential rival from the Big 12 I am happy that this payoff/buy out/blood money, whatever you want to call it, ensures that West Virginia will be on the Big 12 schedule for the 2012-13 season and I am looking forward to the match ups that ensue.
Happy to be here.
I’m just looking forward to tailgating with ISU fans.
www.smokingmusket.com
@CountryRoadsWV
by Country Roads on Feb 9, 2012 10:51 AM EST up reply actions
Let's set some couches on fire!
The Wide RIght Natty Light crew has some awesome tailgates throughout the season.
I thought ISU was know for dumpster fires
I have a couch to donate for a dumpster fire, if you’re interested.
West Virginia fans hate everybody. They remember every snub and joke and bit of snark. And they never forgive, and they never, ever forget. In other words, they're a lot like West Virginians in general.
by Kid Tenderloin on Feb 9, 2012 2:10 PM EST up reply actions
yeah.... about that....
The authorities, hereafter known as “the Man”, do not allow us to bring couches or recliners into the tailgating lots anymore due to the incendiery tendencies of the lot constituents.
The dumpsters most often go up in flames during VEISHA riots.
ISU
Is (now) my second favorite Big 12 school. haha.
"that place laid the foundation for who I am. A lot of outsiders make fun of it and say negative things about West Virginia. Fuck them" - Jerry West
by MountaineerAirman on Feb 10, 2012 6:51 AM EST up reply actions
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