To the AAC in order to leave league on July 2014 according to the AAC and McMurphy

(11-13-2013 02:35 PM)Cubanbull Wrote:  To the AAC in order to leave league on July 2014 according to the AAC and McMurphy

Here us the link

http://www.courier-journal.com/article/2...Conference

$11 million plus approximately $18.5 million in left over NCAA credits.

Damn divorce is expensive.

http://www.cardchronicle.com/2013/11/13/...uly-1-2014

According to ESPN.com's Brett McMurphy, Louisville has agreed to pay a total of $11 million to the AAC so that it can part ways without issue. The agreement guarantees that Louisville's league transition will take place without the same court proceedings and appearances that have plagued conference realignment for the past few years.

I was 100% wrong on this one. I thought for sure UofL would wait and pay whatever Rutgers paid but it looks like Jurich decided to just settle things without waiting or involving the courts.

wonder how much each team gets and if newbies like ECU, Tulsa, Tulane get any?

(11-13-2013 02:39 PM)adcorbett Wrote:  $11 million plus approximately $18.5 million in left over NCAA credits.

Damn divorce is expensive.

I know UfoL wants to be diplomatic about leaving, but why did they agree to pay more than Pitt and Syracuse?

Tom Jurich:

"I'm glad to have been able to work face-to-face with Mike Aresco to reach a fair settlement for us to depart the league a year early. All of us at the University of Louisville appreciate what the former Big East and American Athletic Conference have done for us and I see greatness ahead for the league under Mike's leadership."

Mike Aresco

“I am pleased to announce this agreement and pleased that Tom Jurich and I worked together in a spirit of friendship to complete it. I have great respect and admiration for Tom and for the manner in which Louisville conducted itself in our negotiations. We wish Louisville the best and appreciate what they have meant to our conference.”

It's expensive but glad we're not going out with lawsuits and hatred.

If all sides are happy so be it...this settles any of the stuff that Dr. Ramsey put out last Friday.

(11-13-2013 02:40 PM)Knights_of_UCF Wrote:  wonder how much each team gets and if newbies like ECU, Tulsa, Tulane get any?

Since Louisville announced the split PRIOR to the entry of Memphis, Houston, SMU, and UCF---Im going to guess that it gets distributed in the same 60-40 split as the rest of the realignment fund.

60% USF, UConn, Cincy

40% everyone else, with a slight advantage to schools here longer.

Few other tidbits:

http://louisville.rivals.com/content.asp?CID=1574632

Sources told CardinalSports.com that Louisville's previous two $2.5 million payments will be included in the AAC exit fee. Louisville will pay $1.5 million per year in 2014-17 to settle their account with the AAC.

[...]

Rutgers and the AAC are still in negotiations for Rutgers move to the Big Ten. Boise State and the American Conference are set to enter a jury trial on July 1, 2014 to try to determine the proper exit fee for the Broncos.

West Virginia's messy divorce from the Big East ended up costing the program more than $20 million in exit and lawyer fees. Louisville's total will be $11 million.

[...]

Sources also told CardinalSports.com that Louisville's deal with the AAC was reduced in price because Louisville's willingness to work with the league to keep the dispute out of the courts.

So it looks like Louisville has already paid almost half their exit fee. The rest will be paid out over a multi-year period.

(11-13-2013 02:43 PM)CollegeCard Wrote:  Tom Jurich:

"I'm glad to have been able to work face-to-face with Mike Aresco to reach a fair settlement for us to depart the league a year early. All of us at the University of Louisville appreciate what the former Big East and American Athletic Conference have done for us and I see greatness ahead for the league under Mike's leadership."

Mike Aresco

“I am pleased to announce this agreement and pleased that Tom Jurich and I worked together in a spirit of friendship to complete it. I have great respect and admiration for Tom and for the manner in which Louisville conducted itself in our negotiations. We wish Louisville the best and appreciate what they have meant to our conference.”

It's expensive but glad we're not going out with lawsuits and hatred.

So, why was it so easy to work out a deal with Louisville, but we have a lawsuit with Rutgers? Does Rutgers just sign on for the same deal and withdraw the law suit?

(11-13-2013 02:41 PM)Lloyd64 Wrote:  

(11-13-2013 02:39 PM)adcorbett Wrote:  $11 million plus approximately $18.5 million in left over NCAA credits.

Damn divorce is expensive.

I know UfoL wants to be diplomatic about leaving, but why did they agree to pay more than Pitt and Syracuse?

I think the contracts were re-negotiated after Pitt and Cuse announced they were leaving and the exit fee was increased.

I think it's a fair price to pay. The Big East / AAC was very good to us, and I'm glad Jurich is negotiating this our exit professionally.

(11-13-2013 02:43 PM)Maize Wrote:  If all sides are happy so be it...this settles any of the stuff that Dr. Ramsey put out last Friday.

This may be why Ramsey said what he did. He didn't want to step on any toes when a deal was practiacally done.

(11-13-2013 02:46 PM)Attackcoog Wrote:  

(11-13-2013 02:43 PM)CollegeCard Wrote:  Tom Jurich:

"I'm glad to have been able to work face-to-face with Mike Aresco to reach a fair settlement for us to depart the league a year early. All of us at the University of Louisville appreciate what the former Big East and American Athletic Conference have done for us and I see greatness ahead for the league under Mike's leadership."

Mike Aresco

“I am pleased to announce this agreement and pleased that Tom Jurich and I worked together in a spirit of friendship to complete it. I have great respect and admiration for Tom and for the manner in which Louisville conducted itself in our negotiations. We wish Louisville the best and appreciate what they have meant to our conference.”

It's expensive but glad we're not going out with lawsuits and hatred.

So, why was it so easy to work out a deal with Louisville, but we have a lawsuit with Rutgers? Does Rutgers just sign on for the same deal and withdraw the law suit?

In short... I think the three main points may be:
1) Leadership at Louisville vs at Rutgers
2) Rutgers feels that they have somehow been wronged
3) Louisville has the money to pay and be done with it, Rutgers lacks cash and is desperate to try and lower the departure amount, even though it may end up costing more in attorney fees, etc than if they just settled.

Kudos to Jurich and Louisville for not dragging this through the mud like West Virginia and Rutgers. It sucks you're leaving, but at least you're leaving with class.

(11-13-2013 02:44 PM)Attackcoog Wrote:  

(11-13-2013 02:40 PM)Knights_of_UCF Wrote:  wonder how much each team gets and if newbies like ECU, Tulsa, Tulane get any?

Since Louisville announced the split PRIOR to the entry of Memphis, Houston, SMU, and UCF---Im going to guess that it gets distributed in the same 60-40 split as the rest of the realignment fund.

60% USF, UConn, Cincy

40% everyone else, with a slight advantage to schools here longer.

Not sure if this matters, but Louisville's departure was AFTER those teams were added to the conference but before Tulsa. It was prior to all but Temple actually playing in the BE/AAC, but after they were invited. ECU and Tulane were added as the replacement for Rutgers, and the (likely) loss of one more, but they were all added before Louisville was added to the ACC save for Tulsa.

But I am not sure how that figures into the equation.

It's nice to see an amicable separation, even though I'll miss the UC-Louisville rivalry. BB and FB were always great games, played with a lot of emotion. 5 Dec should be electric!

Who knows what the future holds for both teams - we may meet again.

(11-13-2013 02:50 PM)anothertigerfan Wrote:  Kudos to Jurich and Louisville for not dragging this through the mud like West Virginia and Rutgers. It sucks you're leaving, but at least you're leaving with class.

The BIG EAST/American has done a lot for Louisville..it gave us the platform to really take off...Myself contrary to some belief on this board I am and many UofL Fans are supporters of the league and wish it will.

(11-13-2013 02:53 PM)adcorbett Wrote:  

(11-13-2013 02:44 PM)Attackcoog Wrote:  

(11-13-2013 02:40 PM)Knights_of_UCF Wrote:  wonder how much each team gets and if newbies like ECU, Tulsa, Tulane get any?

Since Louisville announced the split PRIOR to the entry of Memphis, Houston, SMU, and UCF---Im going to guess that it gets distributed in the same 60-40 split as the rest of the realignment fund.

60% USF, UConn, Cincy

40% everyone else, with a slight advantage to schools here longer.

Not sure if this matters, but Louisville's departure was AFTER those teams were added to the conference but before Tulsa. It was prior to all but Temple actually playing in the BE/AAC, but after they were invited. ECU and Tulane were added as the replacement for Rutgers, and the (likely) loss of one more, but they were all added before Louisville was added to the ACC save for Tulsa.

But I am not sure how that figures into the equation.

Im not really sure either. I am assuming the Lousiville and Rutgers exit fees were being included as an asset in the Big East/AAC divorce settlement. The AAC then met to figure out how to disperse that settlement cash. The 60%-40% split I described was how they did it. Im assuming this is just part of that wad of cash--but who knows for sure....

(11-13-2013 02:55 PM)Maize Wrote:  

(11-13-2013 02:50 PM)anothertigerfan Wrote:  Kudos to Jurich and Louisville for not dragging this through the mud like West Virginia and Rutgers. It sucks you're leaving, but at least you're leaving with class.

The BIG EAST/American has done a lot for Louisville..it gave us the platform to really take off...Myself contrary to some belief on this board I am and many UofL Fans are supporters of the league and wish it will.

I wish both Rutgers and Louisville were staying. They make it better league---but when an opportunity like the B1G or ACC knocks, you have to answer. No hard feelings here. We all know how this works.