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.
Mar 28, 2015, 12:52 AM EDT
Get caught up on all of Friday’s NCAA tournament action.
Mar 28, 2015, 12:35 AM EDT
ACC teams went 2-1 Friday night, with Louisville’s win over NC State being the league’s lone defeat.
Mar 28, 2015, 12:27 AM EDT
The schedule for Sunday’s Elite 8 games.
Mar 28, 2015, 12:23 AM EDT
Second straight Elite 8 appearance for Tom Izzo and Co.
Mar 28, 2015, 12:08 AM EDT
No. 1 Duke advanced to the Elite 8 with a win in the South Regional over No. 5 Utah.
Mar 27, 2015, 11:31 PM EDT
This is a pretty nice move from Amile Jefferson.
Mar 27, 2015, 9:58 PM EDT
Wardle spent five seasons as coach at Green Bay.
Mar 27, 2015, 9:47 PM EDT
Will play the winner of Michigan State-Oklahoma.
Mar 27, 2015, 9:39 PM EDT
Caleb Martin’s only two points of the game.
Mar 27, 2015, 9:26 PM EDT
Gonzaga defeated UCLA to advance to the Elite 8 for the first time under head coach Mark Few.
Mar 27, 2015, 9:22 PM EDT
Andy Toole has been with Robert Morris for five seasons.
Mar 27, 2015, 8:53 PM EDT
Nice big man-to-big man pass.
Mar 27, 2015, 8:32 PM EDT
Class of 2015 five-star center Diamond Stone committed during a surprise announcement on Friday night.
Mar 27, 2015, 8:30 PM EDT
UNLV freshman Rashad Vaughn addresses NBA Draft rumors.
Mar 27, 2015, 8:28 PM EDT
One of three assists in the first half for Cat Barber.
Mar 27, 2015, 7:45 PM EDT
Aaron Harrison left Thursday night’s game briefly with a finger injury.
Mar 27, 2015, 6:50 PM EDT
For the second time this month, the Indiana athletic director backed the school’s head coach.
Mar 27, 2015, 6:00 PM EDT
Arizona hasn’t been to the Final Four since 2001, but all involved are focused on Wisconsin and not that streak.
Mar 27, 2015, 5:00 PM EDT
Frazier is projected as a second round pick.
Mar 27, 2015, 5:00 PM EDT
The 6-foot-7 forward has two years of eligibility left.
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