Catholic 7 to keep all NCAA tourney money

[Aughnanure]

Brett McMurphy ‏@McMurphyESPN

Catholic 7 to keep all NCAA tourney $; legal fees/consultants will cost Big East $15M sources tell @ESPN

[TallTitan34]

SOLID!

[Marqus Howard]

That's incorrect. The (old) Big East is keeping the money.

This link was attached to the end of the tweet:

http://espn.go.com/college-sports/story/_/id/9019093/big-east-football-schools-keep-close-110-million-league-split-according-report

[JakeBarnes]

That's incorrect. The (old) Big East is keeping the money.

This link was attached to the end of the tweet:

http://espn.go.com/college-sports/story/_/id/9019093/big-east-football-schools-keep-close-110-million-league-split-according-report

The so-called Catholic 7, which is expected to add at least two more members before it begins competition in the 2013-14 school year, is made up of Georgetown, St. John's, Villanova, Seton Hall, Providence, Marquette and DePaul. Butler, Xavier and Creighton also will join the league, which will begin play in 2013, sources told McMurphy.

The new Big East has a television deal from Fox waiting for it, though it still needs to hire a commissioner and set up a league office.

As part of the Catholic 7 schools' exit agreement with the Big East, the schools will keep all of their NCAA tournament units, sources told McMurphy

Nope, tourney shares are kept.

[marquette20]

That's incorrect. The (old) Big East is keeping the money.

This link was attached to the end of the tweet:

http://espn.go.com/college-sports/story/_/id/9019093/big-east-football-schools-keep-close-110-million-league-split-according-report

Reading is a key to life
You are wrong trying to prove someone else wrong

As part of the Catholic 7 schools' exit agreement with the Big East, the schools will keep all of their NCAA tournament units, sources told McMurphy

[LastWarrior]

So Creighton is the 10th member?  Nice!!

[🏀]

So Creighton is the 10th member?  Nice!!

Sources say. Awesome.

Dayton sleeps easy tonight knowing they won't have to join the inferior C7 and continue their reign of terror over the A10.

[Marqus Howard]

Nope, tourney shares are kept.

My mistake.

[MUMountin]

This is great--now we just need MU, G'town, and Nova* to make some good runs this year to set us up nicely for the new conference.

[chapman]

Nothing wrong with this deal for the C7 - name, tournament venue, the credits they earned, and a bit of cash.  And it's much less depressing watching road games on television in packed gyms in Cincinnati, Indy, and Omaha instead of four fans in attendance in Tampa or north Jersey. 

[JakeBarnes]

My mistake.

No worries. None of these writers do a very good job separating the LEAST from the C7 when they make those sentences.  Either way, feels like we're making out pretty well here. Can't wait for the league to be announced officially!

[Marqus Howard]

No worries. None of these writers do a very good job separating the LEAST from the C7 when they make those sentences.  Either way, feels like we're making out pretty well here. Can't wait for the league to be announced officially!

Absolutely. This deal almost sounds too good to be true.

[drewm88]

Anyone know what the shares are worth? By my count, here's what we're looking at for the new conference:

2009:
Butler - 64
MU - 32
Xavier - 16
Villanova - 4

2010:
MU - 64
Georgetown - 64
Villanova - 32
Xavier - 16
Butler - 2

2011:
Villanova - 64
Xavier - 64
Georgetown - 64
St. John's - 64
MU - 16
Butler - 2

2012:
Creighton - 32
Georgetown - 32
MU - 16
Xavier - 16

Obviously, we don't know how they'll split the shares in the new BE, but how do we do it currently?

[Silkk the Shaka]

Sources say. Awesome.

Dayton sleeps easy tonight knowing they won't have to join the inferior C7 and continue their reign of terror over the A10.

Joining a new conference at this juncture would only avert much-needed focus from the path to the A10 12th seed.  Bigger fish to fry.

[Marqus Howard]

Anyone know what the shares are worth? By my count, here's what we're looking at for the new conference:

I don't know how we split them currently, but each team earns 1 unit by making the tournament and earn 1 additional unit for each round they advance. I think each unit is worth about $250,000 but it varies.

[Dawson Rental]

Anyone know what the shares are worth? By my count, here's what we're looking at for the new conference:

2009:
Butler - 64
MU - 32
Xavier - 16
Villanova - 4

2010:
MU - 64
Georgetown - 64
Villanova - 32
Xavier - 16
Butler - 2

2011:
Villanova - 64
Xavier - 64
Georgetown - 64
St. John's - 64
MU - 16
Butler - 2

2012:
Creighton - 32
Georgetown - 32
MU - 16
Xavier - 16

Obviously, we don't know how they'll split the shares in the new BE, but how do we do it currently?

I'm very skeptical that Xavier or Butler will be allowed to bring any of their past NCAA shares (including any they earn this year) with them to the new league.  The C7 were in a unique situation.  When Marquette left Conference USA, we left behind all of our tournament shares.  I'm sure that that will be the case for any schools leaving conferences to join the C7.

[drewm88]

Good point, Murs. Wasn't thinking.

Meanwhile, I found Benny's post from last year explaining the finances.
http://www.muscoop.com/index.php?topic=32345.0

[drewm88]

Did some rough math as to what we still have coming to us (the C7) for tournament shares. This is based on Benny's info (see link above). He estimated that a 2012 share was worth $242k. I'm making them all $250k for the sake of easier math. So this will overstate it.

2008:
MU - 32 ($500k/year, 1 year left) $500k
Georgetown - 32 $500 k
Villanova - 16 $750 k
Total - $1.75m

2009:
MU - 32 $1m ($500k/year x 2 years)
Villanova - 4 $2.5 m
Total: $3.5 m

2010:
MU - 64 $750k ($250k/year x 3 years)
Georgetown - 64 $750k
Villanova - 32 $1.5m
Total: $3m

2011:
Villanova - 64 $1m ($250k/year x 4 years)
Georgetown - 64 $1m
St. John's - 64 $1m
MU - 16 $3m
Total: $6m

2012:
Georgetown - 32 $2.5m ($500k/year x 5 years)
MU - 16 $3.75m
Total: $6.25m

Grand total: $20.5 million. Remember, that's rounded up a decent amount, but it's safe to say the tourney shares are in excess of $15 million, plus another few million at least from us and Georgetown this year.

Hope my 11:00 math & logic hold up when I look again tomorrow.

Edit: That math didn't hold up. Apparently 1+1+1+3 = 6. Whoops. Adjusted.

[Norm]

This seems to be a pretty good deal with keeping the tournament shares - but the best part might be no Dayton mention as joining the league!

[GGGG]

Grand total: $19.5 million. Remember, that's rounded up a decent amount, but it's safe to say the tourney shares are in excess of $15 million, plus another few million at least from us and Georgetown this year.

So they are using the tourney share money to set up the new conference, plus have some left over, plus they keep about $1.5M each from the BE, get the FOX contract starting next year, avoided all exit fees, get the BE name and the MSG location.

Honestly, this has worked out better than I ever thought it would!

[Chili]

I'm very skeptical that Xavier or Butler will be allowed to bring any of their past NCAA shares (including any they earn this year) with them to the new league.  The C7 were in a unique situation.  When Marquette left Conference USA, we left behind all of our tournament shares.  I'm sure that that will be the case for any schools leaving conferences to join the C7.

Xavier has a sweetheart deal with the A10 where they get to keep all (or almost all) of the tournament shares they generate. This was meant to keep them happy so they were not the workhorse feeding the mouth's of the bottom feeders.

[chapman]

Also not sure what Creighton's deal is in the MVC.  Their poster here said they could leave anytime without an exit fee, not sure if they also take their credits from last year and this year.

[Jet915]

Also not sure what Creighton's deal is in the MVC.  Their poster here said they could leave anytime without an exit fee, not sure if they also take their credits from last year and this year.

Exit fee from what I've heard is 50K and we would not be taking our credits with us...

[Dreadman24]

Question is will the conference be considered mid major?

[chapman]

Exit fee from what I've heard is 50K and we would not be taking our credits with us...

Hopefully the remaining MVC schools don't spend the exit fee all in one place.