Dec 13, 2012, 7:48 PM EDT
The question now is, simply, how?
The presidents of the seven schools conducted a teleconference with Big East commissioner Mike Aresco on Thursday morning. The presidents are expected to issue a statement on their schools’ future in the next 24 to 48 hours.
According to the report from USA Today, the basketball schools have two options. The first is that they can leave as a group, and while that would prevent them from having to pay any exit fees, it would forfeit their share of the exit fees from the schools that have already left the conference, the NCAA tournament win-shares and their right to the Big East “brand”.
The other option?
Well, that’s where things could get crazy:
The Catholic schools could vote to dissolve the league. With seven votes out of 10 being cast (Connecticut, South Florida and Cincinnati are the others), the Catholic schools would have the two-thirds majority to pass that measure.
Once that is done, the outstanding bills of the league would be paid and the assets would then be divided among the 10 members. But everything else disappears including the current agreements in place with football and basketball, naming rights for each conference and the issue of spots in the new football system of playoffs and bowl games and the NCAA tournament spot that is guaranteed to the Big East tournament champion.
(UPDATE: Well, maybe not:
Big East hoops schools can't dissolve league, sources told @espn. Can leave as group w/out paying exit fees, but must wait 27 months—
Brett McMurphy (@McMurphyESPN) December 14, 2012
I can’t keep up.)
If you’re a lawyer, you might want to try and get yourself connected with whatever firm the Big East and the Catholic 7 schools hire.
Because regardless of how this plays out, the legal fees generated while the schools fight over who gets what money will be enormous.
I should have gone to law school.
Jul 30, 2014, 8:17 PM EDT
The Bulldogs succeeded in keeping a talented in-state product home.
Jul 30, 2014, 7:12 PM EDT
Mayo’s decision means that Marquette has to replace its top four scorers from last season.
Jul 30, 2014, 6:51 PM EDT
Just over a month after landing a junior college guard, the Rebels have their second commit in the Class of 2015.
Jul 30, 2014, 5:00 PM EDT
UCLA is holding out hope that John Wooden Court can be salvaged, but if not they’ll have time to replace it.
Jul 30, 2014, 3:12 PM EDT
Larrier is the best recruit that Shaka Smart has landed at VCU.
Jul 30, 2014, 12:51 PM EDT
After averaging 16.0 points per game as a freshman, the South Plains College guard is looking to become a better lead guard guard as a sophomore.
Jul 30, 2014, 11:39 AM EDT
It’s Dayton’s third commitment from the Class of 2015
Jul 30, 2014, 11:02 AM EDT
Oregon is now left with just nine scholarship players, only two of whom saw significant minutes last season.
Jul 30, 2014, 10:00 AM EDT
Coggins will be heading back closer to his Southern California home
Jul 30, 2014, 9:25 AM EDT
Rising sophomore forward Duncan Robinson played his freshman year at Williams College in Williamstown, Massachusetts, but could be on the move for next season.
Jul 29, 2014, 10:14 PM EDT
UCLA reopened Pauley Pavilion in 2012 after $136 million worth of renovations.
Jul 29, 2014, 8:34 PM EDT
The UCLA campus became flooded on Tuesday afternoon.
Jul 29, 2014, 8:30 PM EDT
Mike Krzyzewski is entering his 40th season as a head coach.
Jul 29, 2014, 6:45 PM EDT
Doug Wojcik has been investigated twice by the College of Charleston.
Jul 29, 2014, 6:15 PM EDT
Cal told The Sporting News that he couldn’t leave behind the guys that decided to return to school. Do you buy it?
Jul 29, 2014, 5:22 PM EDT
A former UK coach gave his listeners some new details about Willie Cauley-Stein’s injury.
Jul 29, 2014, 4:27 PM EDT
Malik Monk is a dream come true for the mixtape makers.
Jul 29, 2014, 3:46 PM EDT
And now they’re considering selling it at football games.
Jul 29, 2014, 1:50 PM EDT
The Bruins will be tested by the time Pac-12 play rolls around.
Jul 29, 2014, 11:55 AM EDT
Chad Frazier was arrested back in April.
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