It’s really official now…
BIG EAST CONFERENCE, SYRACUSE UNIVERSITY REACH AGREEMENT
ON SYRACUSE DEPARTURE FROM THE BIG EAST
PROVIDENCE, R.I. — The Big East Conference and Syracuse University today announced that both organizations have reached an agreement on Syracuse’s departure from the Big East and move to the Atlantic Coast Conference. Under the terms of the agreement reached between the Big East and Syracuse, the Big East members will vote, in accordance with the Big East’s bylaws, to terminate Syracuse’s membership in the Big East effective July 1, 2013, at which point Syracuse will join the ACC. In addition to other consideration, Syracuse will make a total cash payment to the Big East of $7.5 million.
“This closes a chapter and opens a new one filled with exciting possibilities for the Big East’s future. With the recent addition of eight schools to the Big East, the future for the Conference has never been brighter,” said Joe Bailey, Big East Interim Commissioner.
Dr. Daryl Gross, Director of Athletics for Syracuse University, said: “We look forward to the new academic and athletic partnerships and the extraordinary competitive opportunities that membership in the ACC offers. We are excited about both our final season in the Big East and our long-term future with the ACC.”
-BIG EAST-
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5 Responses to Big East-Syracuse To Part Ways July 1 2013
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Wonderful for them. Too bad UConn is stuck in this dying league.
Adios Orange. Got out while the gettin’ was good.
Exciting possibilities for the Big East??? Here’s hoping
Correct me if I’m wrong, but I thought the exit fee after adding addition teams was supposed to jump to $10 million. $7.5 million seems like pocket change. I thought it was going to me more in the range of $12 to $15 million for leaving earlier than the 27 month notice.
I could be wrong but I believe the $10 million exit fee was voted on after ‘Cuse announced they were leaving. So, any discussions with them would start with the $5 million exit fee and 27 month waiting period. That amount does seem a little low though. I suppose Pitt will get out for about the same.