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.
Sep 1, 2014, 9:45 PM EDT
Kwe Parker is one of the best dunkers in all of basketball and he shows why in this new mixtape.
Sep 1, 2014, 8:20 PM EDT
Arizona State has given head coach Herb Sendek an extension.
Sep 1, 2014, 6:55 PM EDT
East Carolina is on the board in 2015.
Sep 1, 2014, 5:28 PM EDT
A five-star 2015 forward cut his list to five schools on Monday.
Sep 1, 2014, 4:20 PM EDT
Indiana will have to remain patient with a freshman that is currently battling an ankle injury.
Sep 1, 2014, 2:20 PM EDT
You need a very understanding wife to get away with this.
Sep 1, 2014, 2:20 PM EDT
Tennessee has one scholarship left available for 2015.
Sep 1, 2014, 12:54 PM EDT
Find out why Saint Louis and Missouri are on the list along with the likes of Arizona, Kentucky, Duke and Kansas.
Sep 1, 2014, 12:30 PM EDT
Izzo spoke on the phone with the caddie for 15 minutes.
Sep 1, 2014, 11:39 AM EDT
Bolden is a 6-foot-9 center from Texas
Aug 31, 2014, 11:43 PM EDT
The second team All-MAC selection scored eight points in Senegal’s win over Puerto Rico.
Aug 31, 2014, 10:25 PM EDT
Bruce Weber now has three verbal commitments in the Class of 2015.
Aug 31, 2014, 9:05 PM EDT
5-foot-11 point guard Glynn Watson becomes Nebraska’s second 2015 commitment.
Aug 31, 2014, 8:02 PM EDT
Slender forward Brandon Ingram is one of the best perimeter prospects in the Class of 2015.
Aug 31, 2014, 6:20 PM EDT
Tennessee is on the board in 2015 due to the addition of a versatile 6-foot-5 forward.
Aug 31, 2014, 5:23 PM EDT
Roy Williams challenged his players in the Bahamas, and the accepted it on Saturday afternoon.
Aug 31, 2014, 3:39 PM EDT
Malik Newman is the No. 3 overall recruit, according to Rivals.
Aug 31, 2014, 1:35 PM EDT
The Robinson brothers are the first two commits in Quinnipiac’s Class of 2015.
Aug 31, 2014, 12:00 PM EDT
The Cougars have been without a head coach since Aug. 5.
Aug 31, 2014, 10:17 AM EDT
Bruce Pearl has landed five commitments in 10 days.
- Five-star 2015 forward cuts his list to five schools 0
- Top talent in 2016 announces a top ten 2
- North Carolina athletic director Bubba Cunningham comments on Rashad McCants situation 1
- College Basketball Talk’s Recruiting Roundup 0
- Former Michigan center discusses hasty departure for the NBA (VIDEO) 0
- Five-star 2015 center trims list to five 1
- College of Charleston coaching search takes another turn 0