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.
Apr 22, 2014, 11:08 PM EDT
The UTEP coach is now a candidate to replace Frank Haith at Missouri.
Apr 22, 2014, 10:10 PM EDT
Virginia got its fourth commit on Tuesday night.
Apr 22, 2014, 9:09 PM EDT
A look back on UConn’s second title in four years.
Apr 22, 2014, 8:05 PM EDT
The Southern coach is receiving a contract extension.
Apr 22, 2014, 7:15 PM EDT
Loyd is converting from point guard to wide receiver.
Apr 22, 2014, 6:30 PM EDT
The Bulls announced the fifth departure this spring.
Apr 22, 2014, 5:45 PM EDT
Austin will leave Waco after two seasons.
Apr 22, 2014, 5:00 PM EDT
Andrew Wiggins is the most searched athlete in two states, according to a recent study.
Apr 22, 2014, 4:04 PM EDT
Ron Hunter is loading up on talented transfers
Apr 22, 2014, 2:43 PM EDT
Auburn will accept the punishment that has been given to Pearl by the NCAA.
Apr 22, 2014, 1:57 PM EDT
Kentucky is still waiting for a decision from four players.
Apr 22, 2014, 1:18 PM EDT
Darius is the younger brother of former Illini guard Brandon Paul.
Apr 22, 2014, 11:52 AM EDT
The ACC schedule is what happens when leagues get too big.
Apr 22, 2014, 10:55 AM EDT
Ivan Rabb is the best big man in a loaded class of bigs, according to Rivals.
Apr 22, 2014, 9:53 AM EDT
K.J. McDaniels might win an NBA dunk contest one day.
Apr 22, 2014, 9:40 AM EDT
Cauley-Stein will be out for a couple of months.
Apr 21, 2014, 11:54 PM EDT
Indiana assistant coach and recruiting coordinator Kenny Johnson is moving on to Louisville.
Apr 21, 2014, 10:33 PM EDT
Tennessee found its man on Monday night as the Vols hired Southern Miss coach Donnie Tyndall.
Apr 21, 2014, 9:46 PM EDT
LSU freshman forward Jordan Mickey is still deciding whether or not to enter the 2014 NBA Draft.
Apr 21, 2014, 8:53 PM EDT
Duke landed an impact transfer on Monday with Rice big man Sean Obi.
- Auburn will not appeal Bruce Pearl’s show-cause penalty 2
- Kentucky freshman Julius Randle has formally declared for the NBA Draft 0
- ACC’s league schedule highlights the flaws of massive power conferences 4
- Report: Tennessee hires Southern Miss coach Donnie Tyndall 1
- Rice transfer Sean Obi commits to Duke 1
- Adam Silver says raising NBA’s age limit a top priority 6
- NCAA council aims to change immediate eligibility waiver policy 0
- #UMassUnited: Thousands show to support Derrick Gordon during Westboro Baptist Church protest (18)
- Reports: Missouri’s Frank Haith agrees to take the Tulsa job (11)
- Jabari Parker is headed to the NBA (9)
- Report: New Mexico State’s Sim Bhullar to enter 2014 NBA Draft (7)
- Adam Silver says raising NBA’s age limit a top priority (7)