Dec 13, 2012, 7:48 PM EST
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 6, 2015, 1:34 AM EST
All of the bubble winners and losers from Thursday.
Mar 5, 2015, 10:23 PM EST
No. 6 Wisconsin is the outright Big Ten champion, and Delaware State’s Kendall Gray went off for 33 points and 30 rebounds.
Mar 5, 2015, 8:34 PM EST
With the NBA and NBPA having different views on the limit, college basketball can only wait and see what happens.
Mar 5, 2015, 7:36 PM EST
The only sure thing at this point is that Perry Ellis won’t be on the floor when the Jayhawks visit No. 15 Oklahoma Saturday.
Mar 5, 2015, 6:44 PM EST
DVSport will handle the video replay technology, with Precision Timing Systems handling the timekeeping.
Mar 5, 2015, 5:38 PM EST
Patrick McCaw has been one of UNLV’s most consistent players this season, but he’ll have to miss Saturday’s game at San Jose State.
Mar 5, 2015, 4:56 PM EST
This situation seems certain to end up in a mess.
Mar 5, 2015, 4:13 PM EST
Both Wisconsin and No. 5 Arizona can wrap up outright conference titles with wins Thursday night.
Mar 5, 2015, 3:45 PM EST
I don’t think any Indiana fans are listening at this point.
Mar 5, 2015, 3:14 PM EST
Man, this is a serious blow.
Mar 5, 2015, 2:31 PM EST
After winning yet another regular season title, Gonzaga looks to win its third consecutive WCC tournament crown.
Mar 5, 2015, 2:05 PM EST
I’ve been asked the question enough. Here are the answers.
Mar 5, 2015, 2:00 PM EST
The CAA will be the nations most wide-open conference tournament.
Mar 5, 2015, 12:00 PM EST
Can Wofford reach their second straight NCAA tournament?
Mar 5, 2015, 10:57 AM EST
Josh Speidel is still in the hospital as he deals with a serious brain injury stemming from a car accident last month.
Mar 5, 2015, 10:23 AM EST
This is nasty.
Mar 5, 2015, 9:51 AM EST
The catch: None of them were actually seniors.
Mar 5, 2015, 8:53 AM EST
These eight teams can steal an automatic bid in conferences that will get at-large bids.
Mar 5, 2015, 1:22 AM EST
Neither the Panthers nor the Tigers did themselves any favors Wednesday night, with Pittsburgh’s home loss being the costlier of the two defeats.
Mar 4, 2015, 11:59 PM EST
All of Wednesday’s relevant bubble info can be found right here.
- Bubble Banter: Davidson with a big win, Stanford in trouble, and … VCU? 0
- Justin Anderson out this weekend after undergoing appendectomy 0
- West Coast Conference Tournament Preview and Postseason Awards 0
- Film Session: Who can actually beat Kentucky and why 0
- Potential NCAA tournament bid thieves bubble teams should be rooting against 2
- Bubble Banter: Why LSU losing is bad news for Texas A&M 2
- Bonzie Colson continues hot streak as No. 12 Notre Dame wins at No. 16 Louisville 2
- College Basketball Talk’s Latest Top 25: How far will Wisconsin and Gonzaga fall? (26)
- You Make the Call: Was Texas guard Isaiah Taylor fouled on this drive? (16)
- Mike Krzyzewski refuses comment on Rasheed Sulaimon sexual assault allegations (11)
- Bracketology: Villanova takes ahold of the fourth No. 1 seed (9)
- Bracketology: Kentucky reigns and March arrives (8)