Who gets the money?

[jasonb56]

with Pitt and Syracuse each dropping 7.5 million, TCU throwing in 5 million and WVU giving (not sure if true) 20 million... How does the 40 million break down? Does USF benefit at all?

SHOW ME THE MONEY!!

Go Bulls...

[jvwvu]

USF will not get compensated "PAID" from this $40 million, also $40 million is not necessarily all cash either, probably only around $20mil cash. This will stay in the BE coffers to pay for the marketing and salaries of BE, then be operating funds. Now alot of this money will be used to pay the "loans" from the schools that have kept the BE viable instead of collecting revenues when services rendered, ie WVU in Orange Bowl and Final Four.

The BE collects the revenue and distributes the money to the schools, over the years WVU was owed about $7 million prior to leaving the BE. Their $20 million = $2.5 million payment initially to BE, then the agreement was that the BE "wrote off" owed money to WVU ~$7.5 mil, then WVU paid $2.5 million and Big 12 loaned/gave WVU $10 million to pay BE to leave.

I assume that the $7.5 million that Cuse and Pitt will act the same way, some being money owed to them by BE being wrote off and some being a cash payout. Also with Pitt and Cuse they may play this year and not get the revenues instead of doing an all cash payout right now.

Edited July 19, 2012 by jvwvu

[Skingraft]

So I'm not getting a check?

[jvwvu]

So I'm not getting a check?

Its in the mail.

[mviusa]

USF will not get compensated "PAID" from this $40 million, also $40 million is not necessarily all cash either, probably only around $20mil cash. This will stay in the BE coffers to pay for the marketing and salaries of BE, then be operating funds. Now alot of this money will be used to pay the "loans" from the schools that have kept the BE viable instead of collecting revenues when services rendered, ie WVU in Orange Bowl and Final Four.

The BE collects the revenue and distributes the money to the schools, over the years WVU was owed about $7 million prior to leaving the BE. Their $20 million = $2.5 million payment initially to BE, then the agreement was that the BE "wrote off" owed money to WVU ~$7.5 mil, then WVU paid $2.5 million and Big 12 loaned/gave WVU $10 million to pay BE to leave.

I assume that the $7.5 million that Cuse and Pitt will act the same way, some being money owed to them by BE being wrote off and some being a cash payout. Also with Pitt and Cuse they may play this year and not get the revenues instead of doing an all cash payout right now.

Are you an English professor at WVU?

[dabull80]

USF will not get compensated "PAID" from this $40 million, also $40 million is not necessarily all cash either, probably only around $20mil cash. This will stay in the BE coffers to pay for the marketing and salaries of BE, then be operating funds. Now alot of this money will be used to pay the "loans" from the schools that have kept the BE viable instead of collecting revenues when services rendered, ie WVU in Orange Bowl and Final Four.

The BE collects the revenue and distributes the money to the schools, over the years WVU was owed about $7 million prior to leaving the BE. Their $20 million = $2.5 million payment initially to BE, then the agreement was that the BE "wrote off" owed money to WVU ~$7.5 mil, then WVU paid $2.5 million and Big 12 loaned/gave WVU $10 million to pay BE to leave.

I assume that the $7.5 million that Cuse and Pitt will act the same way, some being money owed to them by BE being wrote off and some being a cash payout. Also with Pitt and Cuse they may play this year and not get the revenues instead of doing an all cash payout right now.

Its not cash ? Really - what is it then M&Ms. Of course it is cash however you get it be it being paid or not paying someone else. The "write-off" is being done by the schools leaving not the BE. The BE gets the money. You trying to tell me that the BE is taking 40 million for operating expenses ? That is laughable.

If somehow it makes you feel better that WV won't write a check for their leaving that is fine but the money is real and it cost them 20 million.

[smazza]

DOESNT seem anyone here has an answer

[jasonb56]

DOESNT seem anyone here has an answer

Just seems to me that if you have 40 million come in, USF (and other BE schools) should see some monetary compensation...

[Mama_Bull]

Jeff Scherdin â€@Scherdin16

@gregauman will USF see any of this buyout $$$ ?

14h Greg Auman â€@gregauman

@Scherdin16 Checking on details, but Big East will put $15 million from Pitt and Syracuse into revenue pool for remaining member schools.

5:23 PM - 18 Jul 12 via Twitter for iPhone · Details

[jvwvu]

Jeff Scherdin â€@Scherdin16

@gregauman will USF see any of this buyout $$$ ?

14h Greg Auman â€@gregauman

@Scherdin16 Checking on details, but Big East will put $15 million from Pitt and Syracuse into revenue pool for remaining member schools.

5:23 PM - 18 Jul 12 via Twitter for iPhone · Details

How much of the $15 million from Pitt and Cuse is cash (hard currency, check included) that is going back into revenue pool for remaining members and how much is write of, (how much does the BE currently owe Pitt and Cuse for revenue sharing at this time)?

Because the $20 million from WVU was only $12.5 million in hard currency and $7.5million in monetary value in accounting numbers.

Edited July 19, 2012 by jvwvu