Big East Catholic 7 has $$$ to spare

CBS Sports.com reported on Friday that the Big East Catholic 7 would be splitting more than $60 million in assets according to documents obtained.

Nice story. But we’ve heard it before.

Here’s the lead to a Post by A Jerseyguy.com in December about what the Catholic 7 were planning. AsĀ  Annie Savoy said in Bull Durham, “You can look it up.”

According to sources in the Big East, the 7 Catholic schools who announced on Saturday that they were leaving–DePaul, Marquette, Seton Hall, Providence, Georgetown, Villanova and St. John’s–and the three remaining FBS schools–Connecticut, South Florida and Cincinnati–will split a pot that includes more than $60 million in assets compiled from exit fees and the highly profitable “units” handed out by the NCAA to schools that perform in the lucrative NCAA basketball tournament.

© Copyright 2013 Mark, All rights Reserved. Written For: A Jersey Guy
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5 comments for “Big East Catholic 7 has $$$ to spare

  1. Chris Columbo
    February 1, 2013 at 10:12 pm

    It was helpful that the CBS reporters were able to get the communications via Freedom of information etc. What I found most interesting(and not totally unexpected) was Notre Dame’s efforts to weasel out of their own contract and the Big East taking a firm hand with respect to that. I have read the Big East By Laws carefully and it appears as if the Catholic 7 and leftover 3 are in a decent position with respect to the remaining assets. Catholic 7 has the right to dissolve but a compromise is a better deal as that will ensure the remainder of the exit fees are collected. The Big East breakup actually is a financial benefit to most everyone involved. All those that left got better TV deals, conferences. The new entries are getting an up grade and the three that stay get a consolation prize until they can improve their on the field fortunes and move on. Temple is getting a bit of the shaft in that I don’t think they are completely part of the exit fees.Of course the fans and Big East tradition are losing. However the new residual over time will develop it’s own rivalry and tradition. It will be different for sure and in the early days relevant only to the schools involved . For now though it is the best available financial deal. Aresco needs to push the settlement though, as the Big 12 is not going to lay low for long.

  2. js
    February 1, 2013 at 10:37 pm

    The big question I have about the Big East is will Cincinnati and UConn get the call up anytime soon? If they do move on would the league dissolve?

    I am actually excited to see what the TV deal will be but I wonder if this conference will never make it to 2015 because of the Big Ten and the Big 12 expansion.

    • fin
      February 2, 2013 at 8:17 pm

      I think former CUSA schools will start their own conference if they have to, but July 1st cannot come quick enough in that regard.

  3. fin
    February 2, 2013 at 8:20 pm

    I saw the story about tulane’s football stadium mummies…Makes me feel a little happier w/ Tulane. Worth reading if you want to google the story.

  4. Big Shot Bob
    February 2, 2013 at 9:18 pm

    Seton Hall- Providence=Yawn. C2 or 3 is more like it. Will TV pay the rights to show all the empty seats at St.John’s,Depaul,Providence and Seton Hall games. If fans of these schools don’t really care, do you think anyone else does? This league is dreaming in thinking it will be a new power. It looks more like the MAAC.

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