megadrone
1st String
Posts: 1,306
Joined: Jul 2004
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I Root For: Rutgers
Location: NJ
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RE: Exit fees have to be paid before a move?
(02-13-2014 02:13 PM)Dasville Wrote: Just reading through some of the posts about Rutgers and found a comment that stated that all exit fees have to be paid to the departing conference before joining a new conference. Is that true? Seems like arrangements would at least have to be made wouldn't they? Is Conference revenue subject to garnishment from a team in a different Conference? How about the same Conference? Any information regarding payment plans by WVU since, as far as I know, that has been the largest exit fee paid by a team to a Conference?
The American's by-laws call for 1/2 of the money to be paid when you inform the conference in writing that you're leaving, and the other half paid when you exit. This, like almost anything else, is negotiable.
In Rutgers case, $5mm has already been paid, and the other $6.5mm will be paid over the next 4 years. Terms of the agreement.
(This post was last modified: 02-13-2014 04:26 PM by megadrone.)
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02-13-2014 04:25 PM |
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