ScottyBuff
Well-Known Member
Yep that is the estimated buyout for CU to withdraw from the Big 12 Conference.
I recently e-mailed the sportswriters at the Denver Post about their articles information about the 2-year notice required by CU to withdraw, as it was contrary to what the published Big 12 bylaws state.
To make a long story short, the articles were all wrong, as one of the writers confirmed to me via e-mail after checking with their Big 12 sources.
In order to withdraw from the Big 12 we would need to give notice by July 1, 2010 with an 80% penalty of the conference revenues we earned during 2009-10 (not yet published) and 80% of the conference revenues we will earn in the 2010-11 season. The best estimates I can come up with is that we should receive a distribution of about $9-10 million from last season from the conference, and thus a $7-$8 million penalty. I would expect a similar number for the upcoming season.
If we wait until January 1, 2011 then we would have to forfeit 90% of those revenues, and if we wait until July 1, 2011 then it would be 100%. If we do not give notice by then, we roll forward into a new 5-year additional term, and would have to wait until two years prior to that term's ending to give proper notice and a face a 50% penalty for those remaining 2 years (notice given by July 1, 2014).
So those are the cold-hard facts about leaving the Big 12. That is money that would need to be reserved and paid prior to moving to the Pac-10, if such an offer existed.
Can we fork over that kind of cash when the politicians squashed a $3 million buyout of our coach? Or do you think there has been a plan in place to make this move for quite a while, and the money is there (as Chris Fowler would say)?
It really is chump change. Each of the 44,341 known CU alumni in Pac-10 states would just have to contribute at least $338.29 a piece! :smile2:
I'm still in favor of going to the Pac-10, but the reality is pretty sobering.
And yes, the penalty would still be in effect if another team left the conference during the same time frame.
I recently e-mailed the sportswriters at the Denver Post about their articles information about the 2-year notice required by CU to withdraw, as it was contrary to what the published Big 12 bylaws state.
To make a long story short, the articles were all wrong, as one of the writers confirmed to me via e-mail after checking with their Big 12 sources.
In order to withdraw from the Big 12 we would need to give notice by July 1, 2010 with an 80% penalty of the conference revenues we earned during 2009-10 (not yet published) and 80% of the conference revenues we will earn in the 2010-11 season. The best estimates I can come up with is that we should receive a distribution of about $9-10 million from last season from the conference, and thus a $7-$8 million penalty. I would expect a similar number for the upcoming season.
If we wait until January 1, 2011 then we would have to forfeit 90% of those revenues, and if we wait until July 1, 2011 then it would be 100%. If we do not give notice by then, we roll forward into a new 5-year additional term, and would have to wait until two years prior to that term's ending to give proper notice and a face a 50% penalty for those remaining 2 years (notice given by July 1, 2014).
So those are the cold-hard facts about leaving the Big 12. That is money that would need to be reserved and paid prior to moving to the Pac-10, if such an offer existed.
Can we fork over that kind of cash when the politicians squashed a $3 million buyout of our coach? Or do you think there has been a plan in place to make this move for quite a while, and the money is there (as Chris Fowler would say)?
It really is chump change. Each of the 44,341 known CU alumni in Pac-10 states would just have to contribute at least $338.29 a piece! :smile2:
I'm still in favor of going to the Pac-10, but the reality is pretty sobering.
And yes, the penalty would still be in effect if another team left the conference during the same time frame.